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Chatper 11 The Pricing Strategy
 

Chatper 11 The Pricing Strategy

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    Chatper 11 The Pricing Strategy Chatper 11 The Pricing Strategy Presentation Transcript

    • The Price Strategy Chapter 11
    • Factors Affecting Price• Costs and Expenses• Supply and Demand• Consumer Perceptions• Competition• Government Regulations• Technological Trends
    • Pricing Objectives• Goals that tell what a marketer wants to achieve through pricing.
    • Return on Marketing Investment (ROMI)• Ratio that tells a business how much it earned as a percentage of the investment it made to earn the money.
    • Price-Fixing• Situation in which a group of competitors gets together and sets (fixes) the price for a specific product; they then all agree to sell that product for the same price.
    • Price Discrimination• Situation in which a company plays favorites by charging lower prices to some companies for the same products.
    • Price Channels RetailerManufacturer Wholesaler Consumer
    • Pricing Techniques
    • Psychological Pricing• Set of pricing techniques used to create an image of a product to entice customers to buy.
    • Discount Pricing• Business that sell to other businesses often use discount pricing.• Discount pricing offers a reduction from the regular or list price of a product.
    • Cash Discount• A reduction in price is offered to retailers who pay their bills promptly. (B2B)
    • Promotional Pricing• A discount is given in exchange for the customers promoting the product. (B2B)
    • Quantity Discount or Bundle Pricing• A discount is given for a large order. (B2B)
    • Prestige Pricing• A technique used in which higher-than- average prices are used to suggest status and prestige to the customer.
    • Seasonal Discount• A discount is given when a retailer buys in advance of the season. (B2B)
    • Calculating Prices
    • List Price• Established price of a product as published in a catalog or on a price tag.
    • Market Price• Actual price you pay for a product, after any discounts or coupons are deducted.
    • MSRP• The retail price that the manufacturer recommends.
    • Unit Pricing• Displaying the price of an item based on a standard unit of measure, such as an ounce or a pound.