PRESENTATION ON MARKET RESEARCH AND
METHODS OF PRICING AND ITS PROCESS
PRESENTED BY
N.N.V. Krishna kanth
I MBA
ALIET
Objective of ppt is to learn the
following :
• Definition and meaning of market research
• Importance of Marketing Informa...
• Definition:
According to Philip Kotler, ‘Marketing research is a
systematic problem analysis, model building and fact
fi...
6.5
The Marketing Information System
• Assessing information needs:
– Objective is to make better marketing decisions
– Mu...
Developing Information
• Internal data:
– Information collected, stored within the
organization
– Internal databases
– Sou...
The Marketing Research Process
• Marketing research:
– Systematic design, collection, analysis, and reporting
– Data relev...
• Defining the problem and research objectives:
– Exploratory research
– Descriptive research
– Causal research
• Developi...
• Secondary data sources:
• Business data
– CNN
– Marketing journals
– Trade publications
– General business magazines
• P...
Contact Methods
Mail Telephone Personal Online
Flexibility Poor Good Excellent Good
Quantity of data collected Good Fair E...
What is a Price?
• Price: the amount of money charged for a product or service, or the
sum of values exchanged for the ben...
PRICE =
• One of the important ‘P’ in the marketing mix is price. Price may be
defined as exchange of goods and services i...
Internal Factors Affecting Pricing Decisions
• Marketing objectives:
– Survival
– Current profit
maximization
– Market sha...
Costs
• Fixed costs: costs that do not vary with production
• Variable costs: costs that vary directly with the level of p...
External Factors Affecting Pricing Decisions
• Types of markets:
– Pure competition
– Monopolistic competition
– Oligopoli...
Types of Pricing Strategy
Penetration
Skimming
Bundling
Value
Multiple
Premium
Leadership
• Market penetration pricing: setting a low price for a new
product to attract a large number of buyers and achieve a
larg...
• Multiple pricing: Discounts are provided by the organization to those
individuals who buy a larger quantity. For example...
Selecting the pricing objective
Determinging Demand
Estimating Cost
Analysing Competitors Costs, Price and Offers
Selectin...
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Presentation on market research and methods of pricing

  1. 1. PRESENTATION ON MARKET RESEARCH AND METHODS OF PRICING AND ITS PROCESS PRESENTED BY N.N.V. Krishna kanth I MBA ALIET
  2. 2. Objective of ppt is to learn the following : • Definition and meaning of market research • Importance of Marketing Information System • Marketing research process • Methods of pricing and its process
  3. 3. • Definition: According to Philip Kotler, ‘Marketing research is a systematic problem analysis, model building and fact finding for the purpose of important, decision making and controlling the marketing of goods and services. • Meaning: Research means a systematic and objective investigation of a subject or a problem in order to discover relevant information or principles. When applied to solving marketing problems, it is known as marketing research.
  4. 4. 6.5 The Marketing Information System • Assessing information needs: – Objective is to make better marketing decisions – Must consider needs of all users – Balance information wants with needs and feasibility (and costs) of offering it • Developing information: – Internal data – Marketing intelligence – Marketing research
  5. 5. Developing Information • Internal data: – Information collected, stored within the organization – Internal databases – Source from different departments • Marketing intelligence: – Systematic collection and analysis – Publicly available information – About competitors and market developments
  6. 6. The Marketing Research Process • Marketing research: – Systematic design, collection, analysis, and reporting – Data relevant to a specific marketing situation – Facing the organization – Multi-step process – Can be done by company personnel or contracted to outside companies
  7. 7. • Defining the problem and research objectives: – Exploratory research – Descriptive research – Causal research • Developing the research plan: – Secondary data – Primary data
  8. 8. • Secondary data sources: • Business data – CNN – Marketing journals – Trade publications – General business magazines • Primary data collection: – Observational research – Survey (descriptive) research – Single-source data systems – Experimental research – Focus group interviewing – Online (Internet) marketing research • Government data: Industry Strategies Securities and Exchange Commission • Internet data: CyberAtlas Internet Advertising Bureau Jupiter Media Metrix
  9. 9. Contact Methods Mail Telephone Personal Online Flexibility Poor Good Excellent Good Quantity of data collected Good Fair Excellent Good Control of interviewer effect Excellent Fair Poor Fair Control of sample Fair Excellent Fair Poor Speed of data collection Poor Excellent Good Excellent Response rate Poor Good Good Good Cost Good Fair Poor Excellent
  10. 10. What is a Price? • Price: the amount of money charged for a product or service, or the sum of values exchanged for the benefits of having or using the product or service – Fixed pricing – Dynamic pricing – Only marketing mix element that produces revenue • Pricing best practices: – Develop a 1% pricing mindset – Consistently deliver more value – Price strategically, not opportunistically – Know your competition – Make pricing a process
  11. 11. PRICE = • One of the important ‘P’ in the marketing mix is price. Price may be defined as exchange of goods and services in terms of money. Quality of money received by the seller Quality of goods and serices rendered received by they buyer
  12. 12. Internal Factors Affecting Pricing Decisions • Marketing objectives: – Survival – Current profit maximization – Market share leadership – Product quality leadership • Marketing mix strategy: – Price should be consistent with other mix elements – Target costing – Non-price positions
  13. 13. Costs • Fixed costs: costs that do not vary with production • Variable costs: costs that vary directly with the level of production • Total costs: sum of fixed and variable costs
  14. 14. External Factors Affecting Pricing Decisions • Types of markets: – Pure competition – Monopolistic competition – Oligopolistic competition – Pure monopoly • Competition: – Consumers will compare – High margins attract competition – Benchmarking costs
  15. 15. Types of Pricing Strategy Penetration Skimming Bundling Value Multiple Premium Leadership
  16. 16. • Market penetration pricing: setting a low price for a new product to attract a large number of buyers and achieve a large market share • Market skimming pricing: setting a high price to skim maximum revenues layer by layer from the segments willing to pay the high price • Price Bundling: Organization sells the related products at a single price. It is a kind of packaged deal for the customers. For example: McDonalds offering happy meal as a part of price bundling strategy.
  17. 17. • Multiple pricing: Discounts are provided by the organization to those individuals who buy a larger quantity. For example, if a person buys one piece of shirt, he might get it at 500/- but on buying 3 pieces of shirt, he might get it at 1250/-, there by getting a discount of 250/-. • Value pricing: A customer perceives a product as a group of utilities that can provide him total satisfaction. Therefore, the prices should be fixed according to the customer’s perception. In most of the cases, lower prices are established. • Leadership pricing: This is a style of pricing in which one organization becomes dominant in the matter either because of its operations or by generating customer loyalty. It becomes the leader and sets up the price and the other follows it. This is mainly undertaken in a situation of oligopoly. • Premium pricing: This is a pricing strategy under which different prices are charged for different versions of the same product. For example, the same model of a car has different versions like LXI, VDI, etc., and different prices are charged for all of them.
  18. 18. Selecting the pricing objective Determinging Demand Estimating Cost Analysing Competitors Costs, Price and Offers Selecting a pricing method Selecting the final price PROCESS OF PRICING

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