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Pricing in marketing Management

this covers following topics Meaning objectives policies setting price steps methods strategy

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MARKETING MANAGEMENT
FR
Meaning
• PRICE - The amount of money
for which something is buy or
sell.
• PRICING – The method of
determining the value, a
producer will get in the
exchange off goods &
services.
FRPRICING OBJECTIVES
Objectives
Profit-related
Maximize the
profit
High ROI
Sales-related
Increase in
market share
Increase sales
Competition-
related
Keep
competitors
away
Achieve quality
leadership
Customer-
related
Satisfy
customers
Win confidence
of customers
Others
Price stability
Survival &
Growth
FRPRICING POLICIES
Flexible
price
One price
Prestige
price
Odd/Even
price
Multiple-
price
Bundle
Price
lining
FRSETTING THE PRICE STEPS
Select the pricing
objective
Determine demand Estimate costs
Analysis competitors
price mix
Select the price
method
Select the final price
FRPRICING METHODS
PRICING
METHODS
Mark-up
Pricing
Perceived-
value pricing
Going-rate
pricing
Sealed-Bid
pricing
Target-return
pricing
Break-even
pricing

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Pricing in marketing Management