4. ACKNOWLEDGMENT Raining outside, cool breeze, having sips of tea; while sitting in window.It was the best scenario to motivate me but THE MOTIVATION came from the affection and courage blessed by ------.although it was a hard task but ------- guided us so well that all went seamless!! Bundles of thanks to -------- and I want to relate this effort to --------.
5. Pricing strategy Introduction: Price is one of four major elements of marketing mix.It is very important strategic issue because it is related to product positioning.
6. kinds of pricing strategy Cost plus pricing: Setting a price by adding a fixed amount or percentage to the cost of making the product. Penetration pricing : Setting a very low price to gain as many sales as possible. Price skimming: Setting a high price before other competitors come into the market. Predatory pricing: Setting a very low price to knock out all the other competition. Competitor pricing: Setting a price based on competitors prices. Price discrimination: Setting different prices for the same good, but to different markets e.g. peak and off peak mobile phone calls.
7. price skimming attempts to skim the cream of the top of the market by setting a high price and selling to those customers who are less price sensitive. this strategy mainly PURSUE the objective of PROFIT MAXIMIZATION IS MOST APPROPRIATE WHEN: Demand is expected to relatively inelastic means customers are not highly price sensitive. Products is an innovation or new in that market. PRICE SKIMMING PRICE SKIMMING For example: mobilink was charging premium prices .
8. Penetration pricing Pursue the objective of quantity maximization by means of low price. it is most appropriate when Demand is expected highly elastic There is threat of impending competition Product is not an innovation or new technology
