This chapter discusses pricing strategies and concepts. It begins by explaining how the internet affects pricing through individualization and interactivity. It then covers the economics of pricing including demand curves, costs, and profit maximization. The chapter explores basic strategies like everyday low pricing and promotions. It also examines dynamic strategies such as auctions and algorithms. Additionally, the chapter discusses responding to competitor price changes, implementing prices across customer relationships, and concludes with an example of pricing on eBay.
This chapter discusses pricing strategy and management. It covers pricing considerations such as price elasticity of demand, product-line pricing, and estimating the profit impact of price changes. Pricing strategies such as full-cost pricing, variable-cost pricing, and new-offering pricing strategies like skimming and penetration pricing are also examined. The chapter emphasizes that price is a key determinant of profits and that pricing errors can undermine other marketing activities.
The document summarizes pricing considerations and approaches. It identifies internal factors like costs, organizational structure, and objectives, as well as external factors like demand, competition, and perceptions of value. It contrasts three general pricing approaches: cost-based pricing which adds a markup to costs; value-based pricing which considers customer perceived value; and competition-based pricing which matches competitors' prices.
1. The document discusses various factors that affect pricing decisions for businesses, including costs, competition, the product life cycle, demand, and perceptions of quality.
2. It describes different pricing objectives like profit maximization, market share goals, and status quo pricing. It also covers cost-based strategies like markup pricing and break-even analysis.
3. New technologies like the internet and yield management systems can impact pricing by increasing price transparency, stimulating variable demand, and optimizing profits from limited capacity.
There are several factors that companies consider when setting prices for their products and services. These include internal factors like costs, marketing objectives, and external factors like competition and demand. Dynamic pricing allows sellers to change prices depending on individual customers and market conditions using approaches like cost-plus, value-based, competition-based, and product line pricing. Companies also use promotional pricing strategies like discounts, allowances, and segmented pricing to attract customers.
This document discusses various considerations for pricing decisions and strategies. It covers topics such as pricing objectives, analyzing demand curves, cost-based pricing, competition-based pricing, differential pricing strategies, product line pricing, psychological pricing techniques, and adjusting prices. Key factors that influence pricing decisions are identified, such as costs, demand, competition, target markets, and product life cycles. Different pricing strategies like price skimming, penetration pricing, and bundling are also explained.
This document discusses developing pricing strategies and programs. It covers understanding pricing, setting prices, adapting prices, and initiating and responding to price changes. Some key points include:
- Pricing must be consistent with a firm's marketing strategy and target markets. Price is determined by costs, demand, competitors, and consumer psychology.
- Technologies like the internet have increased price transparency and consumer power. Consumers actively process various price information and signals.
- Firms estimate costs, demand, and analyze competitors to determine an appropriate pricing method and final price. Methods include markup, target return, and value-based pricing.
- Prices must be adapted based on location, time of year, product life cycle stage,
The document discusses various pricing strategies and concepts related to pricing decisions based on market structure. It covers pricing under perfect competition, monopoly, oligopoly and monopolistic competition. Some key points discussed include setting price based on marginal revenue and marginal cost, price discrimination strategies, factors that influence pricing objectives and steps to determine prices.
The document discusses various principles of pricing, including:
1) Pricing is the assignment of value for a good or service that customers must pay to acquire it. Price captures some of the value created and is an important marketing lever.
2) Non-monetary costs like time, convenience and psychological factors influence customer perceptions of value and must be considered in pricing.
3) Developing pricing strategies requires understanding demand, costs, competitors and evaluating the business environment. Common strategies include cost-based, demand-based, yield management and competition-based approaches.
This chapter discusses pricing strategy and management. It covers pricing considerations such as price elasticity of demand, product-line pricing, and estimating the profit impact of price changes. Pricing strategies such as full-cost pricing, variable-cost pricing, and new-offering pricing strategies like skimming and penetration pricing are also examined. The chapter emphasizes that price is a key determinant of profits and that pricing errors can undermine other marketing activities.
The document summarizes pricing considerations and approaches. It identifies internal factors like costs, organizational structure, and objectives, as well as external factors like demand, competition, and perceptions of value. It contrasts three general pricing approaches: cost-based pricing which adds a markup to costs; value-based pricing which considers customer perceived value; and competition-based pricing which matches competitors' prices.
1. The document discusses various factors that affect pricing decisions for businesses, including costs, competition, the product life cycle, demand, and perceptions of quality.
2. It describes different pricing objectives like profit maximization, market share goals, and status quo pricing. It also covers cost-based strategies like markup pricing and break-even analysis.
3. New technologies like the internet and yield management systems can impact pricing by increasing price transparency, stimulating variable demand, and optimizing profits from limited capacity.
There are several factors that companies consider when setting prices for their products and services. These include internal factors like costs, marketing objectives, and external factors like competition and demand. Dynamic pricing allows sellers to change prices depending on individual customers and market conditions using approaches like cost-plus, value-based, competition-based, and product line pricing. Companies also use promotional pricing strategies like discounts, allowances, and segmented pricing to attract customers.
This document discusses various considerations for pricing decisions and strategies. It covers topics such as pricing objectives, analyzing demand curves, cost-based pricing, competition-based pricing, differential pricing strategies, product line pricing, psychological pricing techniques, and adjusting prices. Key factors that influence pricing decisions are identified, such as costs, demand, competition, target markets, and product life cycles. Different pricing strategies like price skimming, penetration pricing, and bundling are also explained.
This document discusses developing pricing strategies and programs. It covers understanding pricing, setting prices, adapting prices, and initiating and responding to price changes. Some key points include:
- Pricing must be consistent with a firm's marketing strategy and target markets. Price is determined by costs, demand, competitors, and consumer psychology.
- Technologies like the internet have increased price transparency and consumer power. Consumers actively process various price information and signals.
- Firms estimate costs, demand, and analyze competitors to determine an appropriate pricing method and final price. Methods include markup, target return, and value-based pricing.
- Prices must be adapted based on location, time of year, product life cycle stage,
The document discusses various pricing strategies and concepts related to pricing decisions based on market structure. It covers pricing under perfect competition, monopoly, oligopoly and monopolistic competition. Some key points discussed include setting price based on marginal revenue and marginal cost, price discrimination strategies, factors that influence pricing objectives and steps to determine prices.
The document discusses various principles of pricing, including:
1) Pricing is the assignment of value for a good or service that customers must pay to acquire it. Price captures some of the value created and is an important marketing lever.
2) Non-monetary costs like time, convenience and psychological factors influence customer perceptions of value and must be considered in pricing.
3) Developing pricing strategies requires understanding demand, costs, competitors and evaluating the business environment. Common strategies include cost-based, demand-based, yield management and competition-based approaches.
The document discusses various pricing strategies used by companies based on market structure and competitive environment. It describes the key characteristics and pricing approaches for perfect competition, monopoly, oligopoly and monopolistic competition. Specific strategies covered include penetration pricing, market skimming, value pricing, loss leaders, psychological pricing, price discrimination, discounts and allowances.
The document discusses various factors that influence pricing decisions. It explains that pricing is important for both economic allocation of resources and business revenue/profits. Pricing objectives can be profit-oriented like profit maximization, or sales-oriented like market share. Price is determined by demand and supply forces in the market. Other factors like production costs, competition, the product lifecycle stage, distribution channels, promotions, customer demands, and quality perceptions also impact price.
1. The document discusses various concepts related to developing pricing strategies and programs, including price-quality inferences, price endings, price cues, steps in setting price, types of costs, and methods for selecting a pricing method.
2. It provides examples of pricing objectives such as maximum market skimming, where companies introducing new technologies set high initial prices that are lowered over time, as Sony did with its early HDTVs.
3. The document reviews key considerations for setting prices, such as estimating costs (including fixed, variable, and semi-variable costs), determining demand, and analyzing competitors' price mixes.
This document discusses various concepts related to pricing strategies. It covers 6 main learning outcomes:
1) The importance of pricing decisions to businesses and the economy. Price determines revenue and profit.
2) Different pricing objectives businesses may have like profit maximization, sales maximization, or maintaining status quo prices.
3) How demand influences price determination. The interaction of supply and demand curves establishes the equilibrium price.
4) Yield management systems which use software to adjust prices and maximize profits by filling unused capacity.
5) Cost-oriented pricing strategies like markup pricing, break-even pricing, and profit maximization pricing that relate price to a business's costs.
6) Other factors that influence
VideoEgg is an online video advertising company founded in 2004 by three Yale graduates. It delivers ads to social media, video, and gaming sites. VideoEgg created AdFrames that allow users to roll over ads to watch sponsored content. Unlike traditional CPM or CPC models, VideoEgg charges advertisers $0.75 per user roll over, splitting the fee with content sites. This innovative pricing scheme differs from standard online advertising models.
Here are the key pricing strategies being used by the companies mentioned:
- Walmart likely uses markup pricing, where they set prices by adding a standard markup percentage to the cost of each product category. This allows them to consistently mark up prices across thousands of stock keeping units in a straightforward way.
- The general retailer in the target return pricing example is setting prices using a target return approach, where they calculate the price needed to achieve a desired profit percentage given projected sales volumes.
- Value pricing strategies like everyday low pricing (EDLP) are being used by companies like Costco that aim to attract loyal customers by offering consistently low prices on quality products. Their business model prioritizes low margins but high volumes.
-
This document discusses various factors that companies consider when setting prices, including costs, demand, competitors, and objectives. It outlines different pricing strategies such as cost-based pricing, value-based pricing, competition-based pricing, product-mix pricing, discount pricing, and geographical pricing. Price is an important variable that is impacted by internal company factors as well as external market forces.
This document discusses pricing strategies and considerations. It covers:
1) Assessing customer value perceptions and price sensitivities using methods like economic value analysis and conjoint analysis.
2) Identifying optimal pricing structures like quantity discounts, bundle pricing, and mixed bundling.
3) Considering competitive reactions and using techniques like price signaling, asymmetric pricing, and game theory.
4) Monitoring transaction prices and assessing customer emotional responses to pricing like reference prices and perceptions of fairness.
This document discusses pricing strategy and management. It covers analyzing pricing situations, selecting pricing strategies, and determining specific prices and policies. Key aspects include analyzing customer price sensitivity, competitors, and costs. Pricing strategies include skimming, penetration, and being at, above, or below competition. Determining specific prices considers costs, demand, and pricing in action. Policies manage pricing structure and discounts. Special situations involve pricing across segments, channels, and a product's life cycle.
This document provides class notes on pricing strategies from chapters 13 and 14. It defines pricing and discusses the importance of pricing decisions. It covers factors that affect pricing like costs, demand, and competition. It also outlines different pricing approaches like cost-oriented, demand-oriented, and competitive-oriented pricing. Specific pricing strategies are explained like price discrimination, price skimming, and yield management. The notes provide examples and diagrams to illustrate key concepts in setting and adjusting price levels.
Kmart once dominated the discount retail market but lost market share to competitors like Walmart. Kmart tried repositioning itself as a value retailer but this led to a price war with Walmart that Kmart failed to win. Kmart was forced into bankruptcy and closed about a third of its stores. The document discusses various pricing strategies companies use for new and existing products, including market skimming, market penetration, product line pricing, and segmented pricing. It also covers how companies adjust prices in response to competitors and changing market conditions.
"Product Pricing strategy" @ the 11th Prod.active meetupprodactive
Pricing strategy": Key pricing principles and methods, how should a company adapt prices to meet varying circumstances and opportunities? What do consumer perception has to do with all the above?
The document discusses various pricing strategies and factors that influence pricing decisions. It covers concepts like price elasticity, costs, competitors' prices, and consumer psychology. Some key pricing strategies mentioned are penetration pricing, market skimming, value pricing, going rate pricing, cost-plus pricing, and differentiated pricing. The document also discusses initiating and responding to price changes, including how companies may react to competitors lowering or raising their prices.
Seventh seminar for my Managing Marketing Processes course in the MGM program at the Stockholm School of Economics, http://www.hhs.se/EDUCATION/MSC/MSCGM/Pages/default.aspx
This document discusses various pricing strategies and considerations for new and existing products. It covers approaches for pricing new products like market skimming versus market penetration. It also addresses pricing a product mix to maximize profits and ways to adjust prices for different customer segments or situations. Additional topics include initiating price changes, responding to competitors' pricing, and prohibited pricing practices according to public policy.
The document discusses setting prices for products and services. It describes establishing pricing goals, choosing a pricing strategy like price skimming, penetration pricing or status quo pricing. It also covers fine-tuning prices using discounts, geographic pricing and other tactics. The document discusses legal and ethical constraints on pricing. It describes using product line pricing and adjusting pricing strategies during inflation and recession through cost-oriented or demand-oriented tactics.
This document discusses the role of strategic pricing for product managers. It begins by covering the need for strategic pricing to anticipate market changes rather than just reacting. It then discusses basic economic concepts for pricing like estimating demand curves and revenue maximization. It also covers common pricing techniques like cost-based, customer-based, and market-based pricing. The document emphasizes that value-based, proactive, and profit-driven strategies are most effective. It provides steps for identifying customer value drivers, estimating economic value, and using techniques like conjoint analysis to understand willingness to pay. Finally, it discusses the key role of product managers in collaborating across functions to define value propositions and drive strategic pricing based on market and customer insights.
11th Cairo Marketing Club (Pricing Strategies) by Dr.Ahmed Hany 31-3-2018Mahmoud Bahgat
11th Cairo Marketing Club (Pricing Strategies) by Dr.Ahmed Hany 31-3-2018
*#Mahmoud_Bahgat*
*#Marketing_Club*
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The document outlines 10 key concepts for developing effective pricing strategies and programs. It discusses how pricing is an integral part of the marketing mix and involves both buyers and sellers. Pricing should be based on a company's clear objectives and must always respond to changes in the market and competitors. Successful pricing employs different methods, is not solely focused on the lowest price, uses differentiation, and can be boosted by advertising. Price increases also require careful management to avoid alienating customers.
This document discusses various pricing strategies that can be used when setting prices. It defines price and identifies factors to consider like good value pricing and value added pricing. It then covers different pricing strategies such as market skimming pricing, market penetration pricing, product line pricing, optional product pricing, captive product pricing, product bundle pricing, discount and allowance pricing, segmented pricing, psychological pricing, promotional pricing, geographical pricing, and dynamic pricing. An example of dynamic pricing using airline ticket prices is provided.
This document provides an overview of key concepts in statistics for management including data collection methods, primary and secondary data, sampling techniques, measures of central tendency, measures of dispersion, probability theory, probability distributions, the normal distribution, and hypothesis testing. It defines primary and secondary data collection methods. It also describes probability sampling techniques like simple random sampling, stratified sampling, and cluster sampling as well as non-probability techniques. Key concepts around measures of central tendency like the mean, median and mode are explained. The document also covers variance, standard deviation, and the normal distribution. It concludes with defining the null and alternative hypotheses.
Demo presentation SVPISTM Sampling and scales.pptxPradeep513562
This document discusses research methodology concepts including sampling techniques, scales of measurement, and validity and reliability. It describes common sampling techniques like simple random sampling, stratified sampling, and cluster sampling. It explains that probability sampling allows results to be generalized while nonprobability sampling does not. Various scales of measurement are outlined including nominal, ordinal, interval, and ratio scales. The key difference between reliability and validity is explained - reliability refers to consistency of measurement and validity refers to measuring what was intended.
The document discusses various pricing strategies used by companies based on market structure and competitive environment. It describes the key characteristics and pricing approaches for perfect competition, monopoly, oligopoly and monopolistic competition. Specific strategies covered include penetration pricing, market skimming, value pricing, loss leaders, psychological pricing, price discrimination, discounts and allowances.
The document discusses various factors that influence pricing decisions. It explains that pricing is important for both economic allocation of resources and business revenue/profits. Pricing objectives can be profit-oriented like profit maximization, or sales-oriented like market share. Price is determined by demand and supply forces in the market. Other factors like production costs, competition, the product lifecycle stage, distribution channels, promotions, customer demands, and quality perceptions also impact price.
1. The document discusses various concepts related to developing pricing strategies and programs, including price-quality inferences, price endings, price cues, steps in setting price, types of costs, and methods for selecting a pricing method.
2. It provides examples of pricing objectives such as maximum market skimming, where companies introducing new technologies set high initial prices that are lowered over time, as Sony did with its early HDTVs.
3. The document reviews key considerations for setting prices, such as estimating costs (including fixed, variable, and semi-variable costs), determining demand, and analyzing competitors' price mixes.
This document discusses various concepts related to pricing strategies. It covers 6 main learning outcomes:
1) The importance of pricing decisions to businesses and the economy. Price determines revenue and profit.
2) Different pricing objectives businesses may have like profit maximization, sales maximization, or maintaining status quo prices.
3) How demand influences price determination. The interaction of supply and demand curves establishes the equilibrium price.
4) Yield management systems which use software to adjust prices and maximize profits by filling unused capacity.
5) Cost-oriented pricing strategies like markup pricing, break-even pricing, and profit maximization pricing that relate price to a business's costs.
6) Other factors that influence
VideoEgg is an online video advertising company founded in 2004 by three Yale graduates. It delivers ads to social media, video, and gaming sites. VideoEgg created AdFrames that allow users to roll over ads to watch sponsored content. Unlike traditional CPM or CPC models, VideoEgg charges advertisers $0.75 per user roll over, splitting the fee with content sites. This innovative pricing scheme differs from standard online advertising models.
Here are the key pricing strategies being used by the companies mentioned:
- Walmart likely uses markup pricing, where they set prices by adding a standard markup percentage to the cost of each product category. This allows them to consistently mark up prices across thousands of stock keeping units in a straightforward way.
- The general retailer in the target return pricing example is setting prices using a target return approach, where they calculate the price needed to achieve a desired profit percentage given projected sales volumes.
- Value pricing strategies like everyday low pricing (EDLP) are being used by companies like Costco that aim to attract loyal customers by offering consistently low prices on quality products. Their business model prioritizes low margins but high volumes.
-
This document discusses various factors that companies consider when setting prices, including costs, demand, competitors, and objectives. It outlines different pricing strategies such as cost-based pricing, value-based pricing, competition-based pricing, product-mix pricing, discount pricing, and geographical pricing. Price is an important variable that is impacted by internal company factors as well as external market forces.
This document discusses pricing strategies and considerations. It covers:
1) Assessing customer value perceptions and price sensitivities using methods like economic value analysis and conjoint analysis.
2) Identifying optimal pricing structures like quantity discounts, bundle pricing, and mixed bundling.
3) Considering competitive reactions and using techniques like price signaling, asymmetric pricing, and game theory.
4) Monitoring transaction prices and assessing customer emotional responses to pricing like reference prices and perceptions of fairness.
This document discusses pricing strategy and management. It covers analyzing pricing situations, selecting pricing strategies, and determining specific prices and policies. Key aspects include analyzing customer price sensitivity, competitors, and costs. Pricing strategies include skimming, penetration, and being at, above, or below competition. Determining specific prices considers costs, demand, and pricing in action. Policies manage pricing structure and discounts. Special situations involve pricing across segments, channels, and a product's life cycle.
This document provides class notes on pricing strategies from chapters 13 and 14. It defines pricing and discusses the importance of pricing decisions. It covers factors that affect pricing like costs, demand, and competition. It also outlines different pricing approaches like cost-oriented, demand-oriented, and competitive-oriented pricing. Specific pricing strategies are explained like price discrimination, price skimming, and yield management. The notes provide examples and diagrams to illustrate key concepts in setting and adjusting price levels.
Kmart once dominated the discount retail market but lost market share to competitors like Walmart. Kmart tried repositioning itself as a value retailer but this led to a price war with Walmart that Kmart failed to win. Kmart was forced into bankruptcy and closed about a third of its stores. The document discusses various pricing strategies companies use for new and existing products, including market skimming, market penetration, product line pricing, and segmented pricing. It also covers how companies adjust prices in response to competitors and changing market conditions.
"Product Pricing strategy" @ the 11th Prod.active meetupprodactive
Pricing strategy": Key pricing principles and methods, how should a company adapt prices to meet varying circumstances and opportunities? What do consumer perception has to do with all the above?
The document discusses various pricing strategies and factors that influence pricing decisions. It covers concepts like price elasticity, costs, competitors' prices, and consumer psychology. Some key pricing strategies mentioned are penetration pricing, market skimming, value pricing, going rate pricing, cost-plus pricing, and differentiated pricing. The document also discusses initiating and responding to price changes, including how companies may react to competitors lowering or raising their prices.
Seventh seminar for my Managing Marketing Processes course in the MGM program at the Stockholm School of Economics, http://www.hhs.se/EDUCATION/MSC/MSCGM/Pages/default.aspx
This document discusses various pricing strategies and considerations for new and existing products. It covers approaches for pricing new products like market skimming versus market penetration. It also addresses pricing a product mix to maximize profits and ways to adjust prices for different customer segments or situations. Additional topics include initiating price changes, responding to competitors' pricing, and prohibited pricing practices according to public policy.
The document discusses setting prices for products and services. It describes establishing pricing goals, choosing a pricing strategy like price skimming, penetration pricing or status quo pricing. It also covers fine-tuning prices using discounts, geographic pricing and other tactics. The document discusses legal and ethical constraints on pricing. It describes using product line pricing and adjusting pricing strategies during inflation and recession through cost-oriented or demand-oriented tactics.
This document discusses the role of strategic pricing for product managers. It begins by covering the need for strategic pricing to anticipate market changes rather than just reacting. It then discusses basic economic concepts for pricing like estimating demand curves and revenue maximization. It also covers common pricing techniques like cost-based, customer-based, and market-based pricing. The document emphasizes that value-based, proactive, and profit-driven strategies are most effective. It provides steps for identifying customer value drivers, estimating economic value, and using techniques like conjoint analysis to understand willingness to pay. Finally, it discusses the key role of product managers in collaborating across functions to define value propositions and drive strategic pricing based on market and customer insights.
11th Cairo Marketing Club (Pricing Strategies) by Dr.Ahmed Hany 31-3-2018Mahmoud Bahgat
11th Cairo Marketing Club (Pricing Strategies) by Dr.Ahmed Hany 31-3-2018
*#Mahmoud_Bahgat*
*#Marketing_Club*
للاشتراك في نادي التسويق بالشرق الاوسط
*If you are a Marketer now*
To Join our whatsapp &Monthly Meeting in Middle East Cities
Send me ur data on Whatsap
00966569654916
*Fill ur data here as speaker or member*
https://lnkd.in/efkTE7T
Join now
*Marketing Club Facebook Page*
https://lnkd.in/gm4c4hD
*Marketing Club Facebook Group*
https://lnkd.in/gX-5au5
*Egyptian Pharmacists Society Facebook Page*
https://lnkd.in/fucnv_5
•••••••••••••••••••••••••••••
*#Mahmoud_Bahgat*
00966568654916
لخدمات التسويق والدعاية والاعلان
*#Legendary_ADLAND*
Complete Marketing Solutions
*www.TheLegendary.info*
•••••••••••••••••••••••••••••
للحصول على اقامة او شركة في اوروبا
*#Legendary_Europe*
Europe Companies & Residency
*www.LegendaryEurope.Net*
•••••••••••••••••••••••••••••
*Contact Bahgat*
M.Bahgat@TheLegendary.Info
The document outlines 10 key concepts for developing effective pricing strategies and programs. It discusses how pricing is an integral part of the marketing mix and involves both buyers and sellers. Pricing should be based on a company's clear objectives and must always respond to changes in the market and competitors. Successful pricing employs different methods, is not solely focused on the lowest price, uses differentiation, and can be boosted by advertising. Price increases also require careful management to avoid alienating customers.
This document discusses various pricing strategies that can be used when setting prices. It defines price and identifies factors to consider like good value pricing and value added pricing. It then covers different pricing strategies such as market skimming pricing, market penetration pricing, product line pricing, optional product pricing, captive product pricing, product bundle pricing, discount and allowance pricing, segmented pricing, psychological pricing, promotional pricing, geographical pricing, and dynamic pricing. An example of dynamic pricing using airline ticket prices is provided.
This document provides an overview of key concepts in statistics for management including data collection methods, primary and secondary data, sampling techniques, measures of central tendency, measures of dispersion, probability theory, probability distributions, the normal distribution, and hypothesis testing. It defines primary and secondary data collection methods. It also describes probability sampling techniques like simple random sampling, stratified sampling, and cluster sampling as well as non-probability techniques. Key concepts around measures of central tendency like the mean, median and mode are explained. The document also covers variance, standard deviation, and the normal distribution. It concludes with defining the null and alternative hypotheses.
Demo presentation SVPISTM Sampling and scales.pptxPradeep513562
This document discusses research methodology concepts including sampling techniques, scales of measurement, and validity and reliability. It describes common sampling techniques like simple random sampling, stratified sampling, and cluster sampling. It explains that probability sampling allows results to be generalized while nonprobability sampling does not. Various scales of measurement are outlined including nominal, ordinal, interval, and ratio scales. The key difference between reliability and validity is explained - reliability refers to consistency of measurement and validity refers to measuring what was intended.
This document provides guidance on creating compelling research manuscripts. It discusses identifying quality research publications and constructing the structure of a research article. It outlines the typical sections of a research paper like introduction, literature review, methodology, results, and discussion. It also addresses title, abstract, conclusions, and future research. Instructional methods include lectures and demonstrations. The document recommends resources like reference managers and academic databases. It emphasizes writing clearly and concisely while avoiding plagiarism.
This document provides an overview of organizational behavior including its objectives, outcomes, major contributing disciplines, and evolution. The objectives are to understand individual and group behavior, apply OB knowledge to business, and develop better workplace relationships. Regarding evolution, the document discusses the classical approach focusing on efficiency, the neo-classical approach emphasizing human relations, and the modern approach combining classical and social science concepts. Major disciplines influencing OB include psychology, sociology, social psychology, anthropology, and political science.
This document discusses who conducts business research and the research process. It provides examples of syndicated data providers, specialty business research firms, communication agencies, consultants, and trade associations that conduct business research. It describes why studying business research is important and defines business research. The document outlines the research process including problem discovery and definition, determining the unit of analysis, and methods of research such as descriptive, correlational, experimental, exploratory, and explanatory research. It discusses classifying research based on application and logic. Finally, it covers the research stages from clarifying the research question to reporting results.
The document discusses identifying and defining research problems. It provides information on:
1) What constitutes a research problem - it is an issue or concern that an investigator presents and justifies studying to address a management issue.
2) How to identify a research problem - this involves searching for problems, reading about the topic, taking notes, seeking advice, and keeping the topic interesting.
3) The importance of clearly defining the research problem so the research yields useful information for management and addresses the core issue. A well-defined problem guides the research process.
The document defines key concepts related to sampling, including population, sample, sampling methods, and errors. It discusses different types of sampling methods like probability sampling (simple random sampling, stratified sampling, cluster sampling) and non-probability sampling (convenience sampling, judgement sampling). It also explains sampling frame, sampling frame error, random sampling error, and non-response error that can occur in sampling. The document provides steps involved in conducting a sample survey from defining the target population to selecting the sampling technique and sample size.
15 Qualitative Research Methods Overview.pptPradeep513562
This document provides an overview of qualitative research methods, including definitions of qualitative research, distinctions from quantitative research, philosophical foundations, different approaches, and when to use qualitative research. It discusses how qualitative research focuses on meanings, experiences, and interpretations. While there is no single definition, qualitative research generally uses naturalistic and interpretive approaches to understand peoples' social worlds from their perspectives.
This chapter discusses new digital media and how marketers use various media channels. It describes different types of media including broadcast, print, narrowcast, and pointcast. It also covers social media, blogs, online communities and how companies can build communities. The chapter discusses search engine optimization and paid search marketing. It provides examples of how companies measure the effectiveness of online advertising campaigns.
This document outlines the Tamil Nadu Transparency in Tenders Act and Rules which provide transparency in public procurement in Tamil Nadu. It defines procuring entities, categories and types of procurement contracts. It describes the roles of Tender Inviting and Accepting Authorities and the tendering process including notice, evaluation, acceptance and special provisions. The objective is to regulate procedures for inviting and accepting tenders in a transparent manner.
The document discusses key concepts in measurement including scales, validity, and reliability. It defines scales as a series of items arranged according to value for quantification. There are four main types of scales: nominal, ordinal, interval, and ratio. Validity refers to a scale measuring what it intends to measure and is classified into face, content, criterion, and construct validity. Reliability is the degree to which a scale yields consistent results and is measured through internal consistency and test-retest methods. Accuracy in measurement depends on both validity and reliability.
This document discusses measurement scales and how to establish the reliability and validity of measurement instruments. It describes the four main types of scales - nominal, ordinal, interval, and ratio - and provides examples of each. Rating scales and ranking scales are presented as two categories for developing attitudinal scales. The document emphasizes the importance of establishing the goodness of measures through item analysis and testing the reliability and validity of instruments.
This document defines key concepts in research including variables, constructs, propositions, and hypotheses. It explains that concepts are generalized ideas about objects, while constructs are concepts measured by multiple variables. Propositions make statements relating concepts, and hypotheses are testable statements about relationships between variables. The document also discusses different types of variables like independent and dependent variables, and different types of reasoning used in research like deductive and inductive reasoning.
This document discusses ethical issues and security challenges related to information technology. It covers topics like computer crime, hacking, privacy, censorship, cyberlaw, and strategies for improving security such as encryption, firewalls, biometrics, and fault tolerant systems. The document provides examples and definitions to explain these concepts over several pages. It also includes two case studies and questions to help readers apply the concepts.
This document provides an overview of data resource management and database concepts. It discusses the business value of data resource management and the advantages of a database management approach over traditional file processing. It also defines key database terms and concepts such as data warehouses and data mining. Different database structures like hierarchical, network, relational, and multidimensional models are explained. The document concludes with a discussion of the database development process and three case studies on data resource management.
This document provides an overview of database concepts and types of databases. It discusses the advantages of database management over traditional file processing, including reduced data redundancy and improved data integration and standardization. The document also describes several types of databases, including operational databases, distributed databases, external databases, hypermedia databases, data warehouses, and the use of data mining.
This chapter discusses the research proposal. The purpose of a research proposal is to present the research question and its importance, discuss related past research, and suggest the necessary data. All research has a sponsor that provides funding, either a company or academic institution. Developing a proposal allows the researcher to plan steps, serve as a guide, and estimate time and budgets. Proposals can be internal or external and range from exploratory to large-scale professional studies costing millions. The proposal should be structured into modules that are tailored for the intended audience. Key modules include an executive summary, problem statement, research objectives, literature review, importance, design, analysis, results, qualifications, budget, schedule, and appendices.
Google launched in 1998 with an innovative search strategy that ranked results based on popularity and keywords. It now performs over a billion searches per day across many languages and countries. Google generates most of its revenue from advertising on its sites. It offers many products including search, advertising, applications and enterprise products. The document discusses how companies like Google develop products online, focusing on attributes, branding, support services and labeling to create value for customers. It provides examples of how Google and other companies have built their brands and launched new products online over time.
The document outlines various topics related to online distribution channels and e-business models. It describes the three major functions of a distribution channel as transactional, logistical, and facilitating. It then explains the different types of online channel intermediaries and models, including brokers, agents, online retailing/e-commerce, m-commerce, and social commerce. It also discusses how the Internet is affecting channel length and functions.
The document discusses the importance of using analytics and data-driven decision making in businesses. It argues that relying solely on intuition and experience can be limiting, while incorporating analytics provides benefits such as understanding customer behaviors, predicting market shifts, and improving efficiency. The document also outlines key factors ("THE ANALYTICAL DELTA") that are necessary for successfully implementing analytics initiatives, including accessible high-quality data, enterprise-wide support and leadership, clear strategic targets, and sufficient analytical talent.
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This presentation is a curated compilation of PowerPoint diagrams and templates designed to illustrate 20 different digital transformation frameworks and models. These frameworks are based on recent industry trends and best practices, ensuring that the content remains relevant and up-to-date.
Key highlights include Microsoft's Digital Transformation Framework, which focuses on driving innovation and efficiency, and McKinsey's Ten Guiding Principles, which provide strategic insights for successful digital transformation. Additionally, Forrester's framework emphasizes enhancing customer experiences and modernizing IT infrastructure, while IDC's MaturityScape helps assess and develop organizational digital maturity. MIT's framework explores cutting-edge strategies for achieving digital success.
These materials are perfect for enhancing your business or classroom presentations, offering visual aids to supplement your insights. Please note that while comprehensive, these slides are intended as supplementary resources and may not be complete for standalone instructional purposes.
Frameworks/Models included:
Microsoft’s Digital Transformation Framework
McKinsey’s Ten Guiding Principles of Digital Transformation
Forrester’s Digital Transformation Framework
IDC’s Digital Transformation MaturityScape
MIT’s Digital Transformation Framework
Gartner’s Digital Transformation Framework
Accenture’s Digital Strategy & Enterprise Frameworks
Deloitte’s Digital Industrial Transformation Framework
Capgemini’s Digital Transformation Framework
PwC’s Digital Transformation Framework
Cisco’s Digital Transformation Framework
Cognizant’s Digital Transformation Framework
DXC Technology’s Digital Transformation Framework
The BCG Strategy Palette
McKinsey’s Digital Transformation Framework
Digital Transformation Compass
Four Levels of Digital Maturity
Design Thinking Framework
Business Model Canvas
Customer Journey Map
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This PowerPoint compilation offers a comprehensive overview of 20 leading innovation management frameworks and methodologies, selected for their broad applicability across various industries and organizational contexts. These frameworks are valuable resources for a wide range of users, including business professionals, educators, and consultants.
Each framework is presented with visually engaging diagrams and templates, ensuring the content is both informative and appealing. While this compilation is thorough, please note that the slides are intended as supplementary resources and may not be sufficient for standalone instructional purposes.
This compilation is ideal for anyone looking to enhance their understanding of innovation management and drive meaningful change within their organization. Whether you aim to improve product development processes, enhance customer experiences, or drive digital transformation, these frameworks offer valuable insights and tools to help you achieve your goals.
INCLUDED FRAMEWORKS/MODELS:
1. Stanford’s Design Thinking
2. IDEO’s Human-Centered Design
3. Strategyzer’s Business Model Innovation
4. Lean Startup Methodology
5. Agile Innovation Framework
6. Doblin’s Ten Types of Innovation
7. McKinsey’s Three Horizons of Growth
8. Customer Journey Map
9. Christensen’s Disruptive Innovation Theory
10. Blue Ocean Strategy
11. Strategyn’s Jobs-To-Be-Done (JTBD) Framework with Job Map
12. Design Sprint Framework
13. The Double Diamond
14. Lean Six Sigma DMAIC
15. TRIZ Problem-Solving Framework
16. Edward de Bono’s Six Thinking Hats
17. Stage-Gate Model
18. Toyota’s Six Steps of Kaizen
19. Microsoft’s Digital Transformation Framework
20. Design for Six Sigma (DFSS)
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3. Pricing — Today’s Objectives
Objectives will be to:
Discuss how the 2Is affect pricing strategy
Discuss the economics of pricing
Explore basic, dynamic and advanced pricing strategies
Examine strategic responses to competitor price cuts
Review the pricing process
Discuss the implementation of pricing levers across the four relationship
stages
4. How the 2Is Affect Pricing Strategy
Economics of Pricing
Basic, Dynamic and Advanced Pricing Strategies
Strategic Responses to Competitor Price Cuts
Pricing Process
Implementation of Pricing Levers Across the Four Relationship Stages
EBay Example
Conclusion
Chapter 8: Pricing
5. Chapter 8: Pricing
How the 2Is Affect Pricing Strategy
Economics of Pricing
Basic, Dynamic and Advanced Pricing Strategies
Strategic Responses to Competitor Price Cuts
Pricing Process
Implementation of Pricing Levers Across the Four Relationship Stages
EBay Example
Conclusion
6. Exhibit 8.1: The Effects of the 2Is on
Pricing
Easy to convey prices to
individuals
Allows more targeted price
promotions
Different websites cater to
different segments
Dynamic pricing sites can
keep individuals informed
Allows a larger buying and
selling community
Facilitates dynamic pricing
strategies
Allows prices to be changed
easily
Allows consumers to easily
check prices
Easier to understand and
measure consumers’ reactions
to price promotions
Easier to receive customer
feedback on price, understand
customers’ willingness to pay,
and implement price-
discrimination strategies
Individualization Interactivity
Pricing
8. Will the Internet Commoditize Prices?
The Internet Will Lead to Price
Commoditization
The Internet Will Not
Commoditize Prices
The Internet makes vast amounts of
information available to consumers.
As a result, markets will become
more efficient, and differences in
products and pricing will decrease
Consumers on the Internet are not
restricted by geography when
making their purchases, so they are
free to choose among a wider
range of providers and may switch
more frequently
On the Internet, providers have
difficulty differentiating their
products; they find it hard to
compete on anything but price
Even if all else is equal, brand will
still command a premium
Providers are able to differentiate
their offerings by bundling
products and services; consumers
will place a premium on attractive
"bundles"
The Internet makes it possible for
consumers to create their own
products and bundles
The Internet offers consumers a
new convenient purchasing
experience that they are willing to
pay for
Point-Counterpoint
9. Chapter 8: Pricing
How the 2Is Affect Pricing Strategy
Economics of Pricing
Basic, Dynamic and Advanced Pricing Strategies
Strategic Responses to Competitor Price Cuts
Pricing Process
Implementation of Pricing Levers Across the Four Relationship Stages
EBay Example
Conclusion
11. Exhibit 8.4: Key Variables That Affect
Demand Curve Slope and Position
Price
Quantity
Price Price
Substitute
Offerings / Prices
Complementary
Offerings / Prices
Income
Market Size
Taste
Substitute
Offerings / Prices
Complementary
Offerings / Prices
Income
Market Size
Taste
12. Exhibit 8.5: Extremes of Demand
Curve Slopes & Degrees of Flexibility
No Pricing Flexibility Complete Pricing Flexibility
Price
Quantity Quantity
(a) (b)
13. Chapter 8: Pricing
How the 2Is Affect Pricing Strategy
Economics of Pricing
Basic, Dynamic and Advanced Pricing Strategies
Strategic Responses to Competitor Price Cuts
Pricing Process
Implementation of Pricing Levers Across the Four Relationship Stages
EBay Example
Conclusion
14. Exhibit 8.6: Hi-Lo vs. EDLP vs.
Retail/Outlet
Hi-Lo EDLP
Product prices high
most of the time
Occasionally, prices
are set low
(generally lower
than prices at EDLP
retailers)
Everyday prices are
set low (generally
lower than the high
price in Hi-Lo
strategy)
Occasionally, EDLP
prices are
discounted
(generally not lower
than low prices in Hi-
Lo strategy)
Retail/Outlet
Regular prices at
retail stores (prices
rarely discounted at
retail stores)
Merchandise
discounted at outlet
stores
15. Exhibit 8.7: Promotional Low-Cost
Pricing
Promotiona
l Pricing
Trial Loss Leader
Benefits
of Rapid
Acceptance
Switching
Costs
Well-Known
Brands
Staples
Seasonal/
Holiday/
Special-Demand
Items
16. Exhibit 8.8: Fairness in Pricing
Past prices
Close substitute prices
Context or purchase
environment
Market clearing price
much higher than some
well-established
reference price
Ongoing pecuniary
relationship between
buyer and seller
Key Components of
Reference Price
Environments in
Which to Consider
Underpricing
(Fairness Pricing)
When there is an ongoing
relationship between
buyers and sellers
When the seller has
significant market power
over buyers
When Fairness Is
Important
17. Exhibit 8.9: Effects of the Internet on
Dynamic Pricing
Decreased Menu Costs
(Prices can be easily changed)
Interactivity
(Easy for buyers and
sellers to interact and
negotiate prices)
Effects of the
Internet on
Dynamic Pricing
18. Exhibit 8.10: Dynamic Pricing
English
Reverse-Price English
Dutch
First Price Sealed-Bid
(Priceline Version)
Exchanges
Dynamic
Pricing
Auctions
19. Exhibit 8.11: Priceline Auction
Process
Consumer
submits non-
refundable bid
Priceline
checks if any of
its participating
airlines are
willing to offer
roundtrip flight
at bid price or
lower
Checks airline’s
seat availability
Priceline
accepts or
rejects bid
20. Exhibit 8.12: Price Discrimination
First Degree — Charge
consumers exactly what they
are willing to pay for product
(e.g., 1–1 price haggling)
Second Degree — Charge
consumers exactly what they
are willing to pay for first unit
of good as well as additional
units (e.g., volume pricing)
Third Degree — Divide
consumers into distinct
segments, charging different
prices to different segments
(e.g., movie-theater pricing)
Price
Discrimination
21. Consumer’s Demand for
Electronic Music
Value of . . .
First Single: $6.00
Second Single: $5.00
Third Single: $4.00
Fourth Single: $3.00
Fifth Single: $2.00
Sixth Single: $1.00
Seventh Single: $0.50
Production cost of a single: $1.50
Buy first three singles at $4 per single
After three singles have been purchased, buy two
additional singles for $2 each
$4 is “left on the table” (consumer was willing to pay $20
for five songs)
– Revenue: $16
– Profit: $8.50
A flat subscription fee of $12.50 can be charged.
In addition to the flat subscription fee, a fee of $1.50
per single can be charged.
Given its demand schedule, the consumer is willing to
pay the subscription fee and purchase five singles at
$1.50 per single; recall that the consumer values the
five singles at $20
– Total Revenue: $20
– Total Profit: $12.50
Economically speaking, it is optimal to use a flat fee
subscription model only when the marginal cost of
producing the good is equal to zero
Exhibit 8.13: Volume Discounts and
Two-Part Pricing Simple Volume Discount Pricing Plan
Two-Part Pricing
22. Financial
News
Legal
News
Current
News
Value Bundle
E-Information’s
Price
$3,000 $1,500 $1,250 $5,000
Company A’s
Valuation
$3,000 $1,500 $500
Company B’s
Valuation
$3,000 $750 $1,250
Company C’s
Valuation
$3,250 $1,000 $500
Strategy Net Result
Company A: Purchases value bundle. Implicitly pays $1,500 for legal news,
$500 for current news.
Company B: Purchases value bundle. Implicitly pays $750 for legal news,
$1,250 for current news.
Company C: Purchases financial news. Pays more ($3,250 vs. $3,000) for
financial news relative to Companies A and B.
Exhibit 8.15: E-Information’s Mixed-
Bundling Strategy
23. Exhibit 8.16: Frenzy Pricing
Frenzy
Pricing
Demand
Uncertainty
Efficient
Selling
Method
Fairness
Signal
of
Quality
Marketing
24. Chapter 8: Pricing
How the 2Is Affect Pricing Strategy
Economics of Pricing
Basic, Dynamic and Advanced Pricing Strategies
Strategic Responses to Competitor Price Cuts
Pricing Process
Implementation of Pricing Levers Across the Four Relationship Stages
EBay Example
Conclusion
25. Competitor Price Cuts
Financial Trouble
Decreasing prices may be a
desperate attempt to raise cash,
or signal to competitors an
interest in being acquired
Attempting to Become
an Industry Leader
Decreasing prices is sometimes
a show of strength to indicate
that a firm is doing well enough to
withstand the lower prices
Signaling Displeasure Over
a Competitor’s Strategy
A firm can use a price cut to
punish a competitor for a change
in its strategy
Typical motives for
price cutting:
26. Responding to Competitor
Price Cuts
Enhance
Value Proposition
General Price
Cut
Cross
Parry
Targeted
Price Cut
Fighter
Brand
Battle
Justify Price
Differential
Exhibit 8.17: Responding to
Competitor Price Cuts
27. Chapter 8: Pricing
How the 2Is Affect Pricing Strategy
Economics of Pricing
Basic, Dynamic and Advanced Pricing Strategies
Strategic Responses to Competitor Price Cuts
Pricing Process
Implementation of Pricing Levers Across the Four Relationship Stages
EBay Example
Conclusion
30. Exhibit 8.21: Estimate Competitor
Response
Select potential prices
Game out
competitors reactions
Estimate revised price
• Pick at least three
potential prices
• Must be prices that the
firm could actually
charge
• Do industry research to
brief managers before
game
• Construct a scenario-
planning exercise
• Use a multiperiod
game for best results
• Use game results to
estimate both the firm’s
final price as well as
competitors’ price points
31. Exhibit 8.24: Pricing Strategy
Framework
Hi-Lo Pricing
Everyday Low
Pricing
No Pricing
Flexibility
Price at market
Corporate Mandate
Target return pricing
Target profit return
High Initial Demand
Fairness pricing
Bundling
Frenzy pricing
Price discrimination
over time
Correlated Demand
Bundling
Volume discount
pricing
Two-part pricing
Dynamic Pricing
English auction
Reverse English
auction
Dutch auction
(regular and eBay
type)
First price sealed-bid
auction (regular and
Priceline type)
Reverse first price
sealed-bid auction
Group buying
Electronic exchange
Price as
Marketing Strategy
Prestige
Sign of quality
Promotional
Select Retail Pricing
Strategy
Select Pricing Strategy
32. Chapter 8: Pricing
How the 2Is Affect Pricing Strategy
Economics of Pricing
Basic, Dynamic and Advanced Pricing Strategies
Strategic Responses to Competitor Price Cuts
Pricing Process
Implementation of Pricing Levers Across the Four Relationship
Stages
EBay Example
Conclusion
34. Chapter 8: Pricing
How the 2Is Affect Pricing Strategy
Economics of Pricing
Basic, Dynamic and Advanced Pricing Strategies
Strategic Responses to Competitor Price Cuts
Pricing Process
Implementation of Pricing Levers Across the Four Relationship Stages
EBay Example
Conclusion
35. Exhibit 8.27: EBay’s Insertion Fee
Scale
Minimum Bid, Opening Value or
Reserve Price
Insertion Fee
$0.01–$9.99 $0.30
$10.00–$24.99 $0.55
$25.00–$49.99 $1.10
$50.00–$199.99 $2.20
$200 and up $3.30
Reserve price auctions carry an additional fee, fully refunded if the item
sells:
Minimum Bid, Opening Value or
Reserve Price
Insertion Fee
$0.01-$24.99 $0.50
$25.00-$199.99 $1.00
$200 and up $2.00
36. Exhibit 8.28: EBay’s Listing Option
Fees
Listing Option Description Fee
Homepage Featured
Item appears in a special featured section
and will most likely be rotated for display on
the eBay homepage
$99.95
Featured Plus!
Item appears in the featured-item section and
in bidder’s search results
$19.95
Highlight
Item listing is highlighted with lavender-
colored band
$5.00
Bold Item listing is displayed in bold $2.00
Gallery
Item listing includes a small picture in the
Gallery (eBay’s miniature picture showcase)
$0.25
Gallery Featured
Item listed in the Gallery will also be featured
at the top of the Gallery in a larger size
$19.95
List in Two
Categories
Item listing appears in two categories,
increasing visibility
Double the insertion and
optional listing fee
10-Day Auction
Duration
Item listed for the longest listing duration
available
$0.10
Buy It Now
Item available for sale instantly to the first
buyer meeting a specified price
$0.05
37. Exhibit 8.29: EBay’s Final Value Fee
Schedule
Final Value Final Value Fee
$0–$25 5.25% of the final value
$25–$100
5.25% of the initial $25 ($1.25) plus 2.75% of the
amount above $25
Over $1,000
5.25% of the initial $25 ($1.25) plus 2.75% of the
initial $25–$1,000 ($24.38) plus 1.5% of the
amount above $1,000
38. Chapter 8: Pricing
How the 2Is Affect Pricing Strategy
Economics of Pricing
Basic, Dynamic and Advanced Pricing Strategies
Strategic Responses to Competitor Price Cuts
Pricing Process
Implementation of Pricing Levers Across the Four Relationship Stages
EBay Example
Conclusion
39. Pricing — Conclusion
Firms have a wide variety of potential pricing strategies and price
points to consider when deciding how to best implement profit-
maximizing strategies.
Firms face multiple pricing decisions including basic, dynamic,
and advanced pricing strategies.
There are a variety of pricing levers for firms to employ in their
pricing strategies. Each stage of the customer relationship has a
set of appropriate pricing levers that should be used.