Price

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Price

  1. 1. Price (4 P’s of marketing) Tooba Zaheer Shaikh 31 July 2008
  2. 2. What is pricing? <ul><li>Pricing is the only component of the marketing mix that generates profit or money for the company, generally called turnover. All the other components are the costs incurred during the production and promotion of the product. </li></ul>
  3. 3. Factors for pricing <ul><li>Fixed and variable costs </li></ul><ul><li>Competition </li></ul><ul><li>Company objectives </li></ul><ul><li>Proposed positioning strategies </li></ul><ul><li>Target group and willingness to pay </li></ul>
  4. 4. Consumer Categories <ul><li>Wealthiest of the wealthy </li></ul><ul><li>Class gone mass </li></ul><ul><li>Mass gone class </li></ul><ul><li>Everyday luxury </li></ul>
  5. 5. Pricing Strategies <ul><li>Penetration Pricing </li></ul><ul><li>Skimming Pricing </li></ul><ul><li>Competition Pricing </li></ul><ul><li>Product Line Pricing </li></ul><ul><li>Bundle Pricing </li></ul><ul><li>Psychological Pricing </li></ul><ul><li>Premium Pricing </li></ul><ul><li>Optional Pricing </li></ul><ul><li>Economy Pricing </li></ul>
  6. 6. A well chosen price <ul><li>Generates profits </li></ul><ul><li>Is affordable by the target consumers </li></ul><ul><li>Represents the product positioning </li></ul><ul><li>Is consistent with other variables in marketing mix </li></ul>

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