The document discusses developing pricing strategies and programs. It addresses how consumers evaluate prices, how companies should initially set prices and adapt prices over time. A company should set prices by selecting objectives, estimating demand and costs, analyzing competitors, and choosing a pricing method. They must also determine when to change prices in response to costs or competitors. There are various strategies for adapting prices for different contexts and responding to competitive challenges through price or quality adjustments.
pricing involves the customer demand schedule, the cost function, and competitors’ prices. The question is how should a company integrate cost-, demand-, and competition-based pricing considerations? In setting a price the firm, for example Kodak, will have to consider the following cost-, demand-, and competition-based pricing decisions:
In this presentation, we will discuss the role and perception of pricing, factors that influences pricing decisions and pricing strategies.
To know more about Welingkar School’s Distance Learning Program and courses offered, visit:
http://www.welingkaronline.org/distance-learning/online-mba.html
This is useful for educators and learners of MBA, which is made in lucid style for easier understanding and to be a handy tool before exams or while teaching.
pricing involves the customer demand schedule, the cost function, and competitors’ prices. The question is how should a company integrate cost-, demand-, and competition-based pricing considerations? In setting a price the firm, for example Kodak, will have to consider the following cost-, demand-, and competition-based pricing decisions:
In this presentation, we will discuss the role and perception of pricing, factors that influences pricing decisions and pricing strategies.
To know more about Welingkar School’s Distance Learning Program and courses offered, visit:
http://www.welingkaronline.org/distance-learning/online-mba.html
This is useful for educators and learners of MBA, which is made in lucid style for easier understanding and to be a handy tool before exams or while teaching.
This document reviews best practice in pricing processes to provide a reference against which current practices and proposals can be tested. Our objectives have been: to research the attributes of world-class pricing through publications and academic sources; to investigate how these attributes are applied in practice to products and services; to assess pricing processes in successful businesses.
In recent years a new attitude toward pricing has emerged. Deregulation and international free trade agreements have increased competition. Price promotion has eroded the power of brand loyalty. Pricing has assumed greater importance to most businesses.
As markets increasingly assume a global dimension, customers can more easily compare prices between one region or country and another, using the internet or a fax machine. They can often locate the same product, or an
acceptable substitute, from another source. Customers are more demanding and fickle, and their expectations increasingly difficult to fulfil.
Price inflation in western economies is now at its lowest for decades. Price increases are no longer accepted without protest from customers, if at all.
The Chairman of General Electric has predicted the onset of the ‘Value Decade’. Global price competition will strengthen because of: reduced product differentiation; global over-capacity for production; significantly diminished trade barriers; efficient information and distribution systems; providing customers with easy access to the prices of suppliers; a growing lack of customers’ loyalty to individual suppliers. Choice will be increasingly driven by price.
This is a challenging scenario that reinforces the need for an integrated strategy and concerted managerial action on pricing.
Pricing processes have lagged behind developments in the market place. They are often characterised by internal conflict between accountants wishing to maximise profit per unit and marketing specialists who seek to maximise
throughput. They are also affected by the potential for strained relations with good customers.
Some companies have downsized their operations to a level where diminishing returns cause them to question the benefits of continuing to focus upon reducing costs. As they switch their attention from cost cutting to adding
value, pricing naturally assumes increased weight in the marketing mix.
We have found many companies reluctant to discuss their own processes.
Some may wish to avoid betraying a lack of sophistication.
Pricing In Marketing - UNIT-5 & 6-PRICING.pptetebarkhmichale
The law of attraction is the most powerful force in the universe. If you work against it, it can only bring you pain and misery. Successful people know this but have kept it hidden from the lower class for centuries because they did not want to share their wealth. The universal law of attraction is simple. We attract whatever we choose to give our attention to. If we focus on bad things, we will attract more bad things. But the minute you stop focusing on bad and focus on good, you change the pattern and now good things start coming your way.
If we knew the law of attraction and applied it in our lives daily, we would have so much power and control that it would be scary. We could have what we wanted, and when we wanted it. We would have total control of our lives. If you think of yourself as a powerful attractor, you will attract more of what you want in your life, simply by thinking about it, then acting on it. But there is one ingredient you cannot leave out or the law of attraction won't work.
When we think of an object in our mind, we then send that image to our hearts and act on it with emotion. A formula makes this easy to follow: TFAR (Thoughts, Feelings, Actions, and Results) When we take necessary action, the universe shows up and gives us the results we wanted.
The law of attraction works by performing three steps. And these steps must be done for the process to work. These steps are:
1. Getting clear. You must know what it is you want or else you won’t get it. The universe won’t know what you are asking for, so how can it deliver?
2. Vibrate to the level of energy corresponding to what you want. If you want something and you think about it, feel it, and act on it, you must keep that level of energy going until you achieve the results you are after.
3. Attract what you want like a magnet. If you focus on what you want but don’t allow it to come into your life, it won’t. You have to be willing to accept it and acknowledge it. Then when you act, it will occur.
Whatever you do during the course of a day, whatever thoughts you think about, you are attracting. If you use it every day, regularly, and practice it this way, you will eventually find that it becomes a habit that you will subconsciously practice.
You may not believe it, but the steps you need to take are easy. But you must do them, believe in them, and believe in yourself, or they will not work. Are you ready to get tuned into the universe and get clear? Can you work in harmony with the laws of the universe and become successful?
If so here are the steps you need to follow:
1. Get clear. You must know exactly what it is you want. If you are in doubt, vague, or too general, you won’t get anywhere. You must know exactly what it is you want first. Only then will you be able to focus and concentrate on that thought?
2. Visualize what you want and vibrate to it. You must form a mental image in your mind so you can see it as if you had it in your possession. For women, you can do the
Mastering Local SEO for Service Businesses in the AI Era is tailored specifically for local service providers like plumbers, dentists, and others seeking to dominate their local search landscape. This session delves into leveraging AI advancements to enhance your online visibility and search rankings through the Content Factory model, designed for creating high-impact, SEO-driven content. Discover the Dollar-a-Day advertising strategy, a cost-effective approach to boost your local SEO efforts and attract more customers with minimal investment. Gain practical insights on optimizing your online presence to meet the specific needs of local service seekers, ensuring your business not only appears but stands out in local searches. This concise, action-oriented workshop is your roadmap to navigating the complexities of digital marketing in the AI age, driving more leads, conversions, and ultimately, success for your local service business.
Key Takeaways:
Embrace AI for Local SEO: Learn to harness the power of AI technologies to optimize your website and content for local search. Understand the pivotal role AI plays in analyzing search trends and consumer behavior, enabling you to tailor your SEO strategies to meet the specific demands of your target local audience. Leverage the Content Factory Model: Discover the step-by-step process of creating SEO-optimized content at scale. This approach ensures a steady stream of high-quality content that engages local customers and boosts your search rankings. Get an action guide on implementing this model, complete with templates and scheduling strategies to maintain a consistent online presence. Maximize ROI with Dollar-a-Day Advertising: Dive into the cost-effective Dollar-a-Day advertising strategy that amplifies your visibility in local searches without breaking the bank. Learn how to strategically allocate your budget across platforms to target potential local customers effectively. The session includes an action guide on setting up, monitoring, and optimizing your ad campaigns to ensure maximum impact with minimal investment.
Mastering Multi-Touchpoint Content Strategy: Navigate Fragmented User JourneysSearch Engine Journal
Digital platforms are constantly multiplying, and with that, user engagement is becoming more intricate and fragmented.
So how do you effectively navigate distributing and tailoring your content across these various touchpoints?
Watch this webinar as we dive into the evolving landscape of content strategy tailored for today's fragmented user journeys. Understanding how to deliver your content to your users is more crucial than ever, and we’ll provide actionable tips for navigating these intricate challenges.
You’ll learn:
- How today’s users engage with content across various channels and devices.
- The latest methodologies for identifying and addressing content gaps to keep your content strategy proactive and relevant.
- What digital shelf space is and how your content strategy needs to pivot.
With Wayne Cichanski, we’ll explore innovative strategies to map out and meet the diverse needs of your audience, ensuring every piece of content resonates and connects, regardless of where or how it is consumed.
Core Web Vitals SEO Workshop - improve your performance [pdf]Peter Mead
Core Web Vitals to improve your website performance for better SEO results with CWV.
CWV Topics include:
- Understanding the latest Core Web Vitals including the significance of LCP, INP and CLS + their impact on SEO
- Optimisation techniques from our experts on how to improve your CWV on platforms like WordPress and WP Engine
- The impact of user experience and SEO
Everyone knows the power of stories, but when asked to come up with them, we struggle. Either we second guess ourselves as to the story's relevance, or we just come up blank and can't think of any. Unlocking Everyday Narratives: The Power of Storytelling in Marketing will teach you how to recognize stories in the moment and to recall forgotten moments that your audience needs to hear.
Key Takeaways:
Understand Why Personal Stories Connect Better
How To Remember Forgotten Stories
How To Use Customer Experiences As Stories For Your Brand
AI-Powered Personalization: Principles, Use Cases, and Its Impact on CROVWO
In today’s era of AI, personalization is more than just a trend—it’s a fundamental strategy that unlocks numerous opportunities.
When done effectively, personalization builds trust, loyalty, and satisfaction among your users—key factors for business success. However, relying solely on AI capabilities isn’t enough. You need to anchor your approach in solid principles, understand your users’ context, and master the art of persuasion.
Join us as Sarjak Patel and Naitry Saggu from 3rd Eye Consulting unveil a transformative framework. This approach seamlessly integrates your unique context, consumer insights, and conversion goals, paving the way for unparalleled success in personalization.
Most small businesses struggle to see marketing results. In this session, we will eliminate any confusion about what to do next, solving your marketing problems so your business can thrive. You’ll learn how to create a foundational marketing OS (operating system) based on neuroscience and backed by real-world results. You’ll be taught how to develop deep customer connections, and how to have your CRM dynamically segment and sell at any stage in the customer’s journey. By the end of the session, you’ll remove confusion and chaos and replace it with clarity and confidence for long-term marketing success.
Key Takeaways:
• Uncover the power of a foundational marketing system that dynamically communicates with prospects and customers on autopilot.
• Harness neuroscience and Tribal Alignment to transform your communication strategies, turning potential clients into fans and those fans into loyal customers.
• Discover the art of automated segmentation, pinpointing your most lucrative customers and identifying the optimal moments for successful conversions.
• Streamline your business with a content production plan that eliminates guesswork, wasted time, and money.
In this presentation, Danny Leibrandt explains the impact of AI on SEO and what Google has been doing about it. Learn how to take your SEO game to the next level and win over Google with his new strategy anyone can use. Get actionable steps to rank your name, your business, and your clients on Google - the right way.
Key Takeaways:
1. Real content is king
2. Find ways to show EEAT
3. Repurpose across all platforms
Digital Commerce Lecture for Advanced Digital & Social Media Strategy at UCLA...Valters Lauzums
E-commerce in 2024 is characterized by a dynamic blend of opportunities and significant challenges. Supply chain disruptions and inventory shortages are critical issues, leading to increased shipping delays and rising costs, which impact timely delivery and squeeze profit margins. Efficient logistics management is essential, yet it is often hampered by these external factors. Payment processing, while needing to ensure security and user convenience, grapples with preventing fraud and integrating diverse payment methods, adding another layer of complexity. Furthermore, fulfillment operations require a streamlined approach to handle volume spikes and maintain accuracy in order picking, packing, and shipping, all while meeting customers' heightened expectations for faster delivery times.
Amid these operational challenges, customer data has emerged as an important strategy. By focusing on personalization and enhancing customer experience from historical behavior, businesses can deliver improved website and brand experienced, better product recommendations, optimal promotions, and content to meet individual preferences. Better data analytics can also help in effectively creating marketing campaigns, improving customer retention, and driving product development and inventory management.
Innovative formats such as social commerce and live shopping are beginning to impact the digital commerce landscape, offering new ways to engage with customers and drive sales, and may provide opportunity for brands that have been priced out or seen a downturn with post-pandemic shopping behavior. Social commerce integrates shopping experiences directly into social media platforms, tapping into the massive user bases of these networks to increase reach and engagement. Live shopping, on the other hand, combines entertainment and real-time interaction, providing a dynamic platform for showcasing products and encouraging immediate purchases. These innovations not only enhance customer engagement but also provide valuable data for businesses to refine their strategies and deliver superior shopping experiences.
The e-commerce sector is evolving rapidly, and businesses that effectively manage operational challenges and implement innovative strategies are best positioned for long-term success.
For too many years marketing and sales have operated in silos...while in some forward thinking companies, the two organizations work together to drive new opportunity development and revenue. This session will explore the lessons learned in that beautiful dance that can occur when marketing and sales work together...to drive new opportunity development, account expansion and customer satisfaction.
No, this is not a conversation about MQLs and SQLs. Instead we will focus on a framework that allows the two organizations to drive company success together.
The session includes a brief history of the evolution of search before diving into the roles technology, content, and links play in developing a powerful SEO strategy in a world of Generative AI and social search. Discover how to optimize for TikTok searches, Google's Gemini, and Search Generative Experience while developing a powerful arsenal of tools and templates to help maximize the effectiveness of your SEO initiatives.
Key Takeaways:
Understand how search engines work
Be able to find out where your users search
Know what is required for each discipline of SEO
Feel confident creating an SEO Plan
Confidently measure SEO performance
Mastering Local SEO for Service Businesses in the AI Era is tailored specifically for local service providers like plumbers, dentists, and others seeking to dominate their local search landscape. This session delves into leveraging AI advancements to enhance your online visibility and search rankings through the Content Factory model, designed for creating high-impact, SEO-driven content. Discover the Dollar-a-Day advertising strategy, a cost-effective approach to boost your local SEO efforts and attract more customers with minimal investment. Gain practical insights on optimizing your online presence to meet the specific needs of local service seekers, ensuring your business not only appears but stands out in local searches. This concise, action-oriented workshop is your roadmap to navigating the complexities of digital marketing in the AI age, driving more leads, conversions, and ultimately, success for your local service business.
Key Takeaways:
Embrace AI for Local SEO: Learn to harness the power of AI technologies to optimize your website and content for local search. Understand the pivotal role AI plays in analyzing search trends and consumer behavior, enabling you to tailor your SEO strategies to meet the specific demands of your target local audience. Leverage the Content Factory Model: Discover the step-by-step process of creating SEO-optimized content at scale. This approach ensures a steady stream of high-quality content that engages local customers and boosts your search rankings. Get an action guide on implementing this model, complete with templates and scheduling strategies to maintain a consistent online presence. Maximize ROI with Dollar-a-Day Advertising: Dive into the cost-effective Dollar-a-Day advertising strategy that amplifies your visibility in local searches without breaking the bank. Learn how to strategically allocate your budget across platforms to target potential local customers effectively. The session includes an action guide on setting up, monitoring, and optimizing your ad campaigns to ensure maximum impact with minimal investment.
The Secret to Engaging Modern Consumers: Journey Mapping and Personalization
In today's digital landscape, understanding the customer's journey and delivering personalized experiences are paramount. This masterclass delves into the art of consumer journey mapping, a powerful technique that visualizes the entire customer experience across touchpoints. Attendees will learn how to create detailed journey maps, identify pain points, and uncover opportunities for optimization. The presentation also explores personalization strategies that leverage data and technology to tailor content, products, and experiences to individual customers. From real-time personalization to predictive analytics, attendees will gain insights into cutting-edge approaches that drive engagement and loyalty.
Key Takeaways:
Current consumer landscape; Steps to mapping an effective consumer journey; Understanding the value of personalization; Integrating mapping and personalization for success; Brands that are getting It right!; Best Practices; Future Trends
When most people in the industry talk about online or digital reputation management, what they're really saying is Google search and PPC. And it's usually reactive, left dealing with the aftermath of negative information published somewhere online. That's outdated. It leaves executives, organizations and other high-profile individuals at a high risk of a digital reputation attack that spans channels and tactics. But the tools needed to safeguard against an attack are more cybersecurity-oriented than most marketing and communications professionals can manage. Business leaders Leaders grasp the importance; 83% of executives place reputation in their top five areas of risk, yet only 23% are confident in their ability to address it. To succeed in 2024 and beyond, you need to turn online reputation on its axis and think like an attacker.
Key Takeaways:
- New framework for examining and safeguarding an online reputation
- Tools and techniques to keep you a step ahead
- Practical examples that demonstrate when to act, how to act and how to recover
2. www.linkedin.com/in/maylin-calva
• How do consumers process and evaluate prices?
• How should a company set prices initially for
products or services?
• How should a company adapt prices to meet
varying circumstances and opportunities?
• When should a company initiate a price change?
• How should a company respond to a
competitor’s price challenge?
Outine and Objective:
The Price is Right?
4. www.linkedin.com/in/maylin-calva
The internet and the Price:
When the Price is Wrong
1. Determine costs and take traditional industry
margins
2. Failure to revise price to capture market
changes
3. Independently pricing of the rest of the
marketing mix
4. Failure to diversify price portfolio (product
item, market segment, distribution channels,
and purchase occasion)
And how to make it right:
6. The internet and the Price:
Consumer and Price
1. Fair price
2. Typical price
3. Last price paid
4. Upper-bound price
How to read Customer mind:
www.linkedin.com/in/maylin-calva
7. The internet and the Price:
Consumer and Price
1. Lower-bound price
2. Competitor prices
3. Expected future price
4. Usual discounted price
How to read Customer mind:
www.linkedin.com/in/maylin-calva
8. The internet and the Price:
Consumer and Price
1. Lower-bound price
2. Competitor prices
3. Expected future price
4. Usual discounted price
How to read Customer mind:
www.linkedin.com/in/maylin-calva
9. The internet and the Price:
Customer and Price
Tiers in Pricing
www.linkedin.com/in/maylin-calva
10. Understanding Pricing:
Making the Price Right
Steps to make a right pricing:
1 Select the price objective
2 Determine demand
3. Estimate costs
4. Analyze competitor price mix
5. Select pricing method
6. Select final price
www.linkedin.com/in/maylin-calva
11. (1) Selecting the Pricing Objective
Making the Price Right
Steps to make a right pricing:
1. Survival
2. Maximum current profit
3. Maximum market share
4. Maximum market skimming
5. Product-quality leadership
www.linkedin.com/in/maylin-calva
12. (2) Determining Demand
Making the Price Right
Steps to make a right pricing:
1. Price sensitivity
2. Estimate demand curves
3. Price elasticity of demand
www.linkedin.com/in/maylin-calva
13. (2) Determining Demand
Making the Price Right
Figure 14.1 Inelastic and Elastic Demand
www.linkedin.com/in/maylin-calva
14. (2) Determining Demand
Making the Price Right
1. The product is more distinctive
2. Buyers are less aware of substitutes
3. Buyers cannot easily compare the quality of substitute
4. Expenditure is a smaller part of buyer’s total income
5. Expenditure is small compared to the total cost
6. Part of the cost is paid by another party
7. Product is used with previously purchased assets
8. Product is assumed to have high quality and prestige
9. Buyers cannot store the product
www.linkedin.com/in/maylin-calva
15. (3) Estimating Cost
Making the Price Right
1. Types of costs
2. Accumulated production
3. Activity-based cost accounting
4. Target costing
www.linkedin.com/in/maylin-calva
16. (3) Estimating Cost
Making the Price Right
Figure 14.2 Cost Per Unit at Different Levels of Production
www.linkedin.com/in/maylin-calva
17. (3) Estimating Cost
Making the Price Right
Cost Terms and Production
1. Fixed costs
2. Variable costs
3. Total costs
4. Average cost
5. Cost at different levels of production
www.linkedin.com/in/maylin-calva
18. (3) Estimating Cost
Making the Price Right
Cost per Unit as a Function of Accumulated Production
www.linkedin.com/in/maylin-calva
21. (4) Analyzing Competitors Cost
Making the Price Right
The Three Cs Model for Price-Setting
www.linkedin.com/in/maylin-calva
22. (5) Selecting Price Model
Making the Price Right
1. Markup pricing
2. Target-return pricing
3. Perceived-value pricing
4. Value pricing
5. Going-rate pricing
6. Auction-type pricing
www.linkedin.com/in/maylin-calva
23. (5) Selecting Price Model
Making the Price Right
Break-Even Chart for Determining Target-Return
Price and Break-Even Volume
www.linkedin.com/in/maylin-calva
24. (5) Selecting Price Model
Making the Price Right
www.linkedin.com/in/maylin-calva
25. (5) Selecting Price Model
Making the Price Right
Auction-Type Pricing
English
Dutch
Sealed-Bid
www.linkedin.com/in/maylin-calva
26. (5) Selecting the Final Price
Making the Price Right
•Impact of other marketing activities
•Company pricing policies
•Gain-and-risk sharing pricing
•Impact of price on other parties
www.linkedin.com/in/maylin-calva
27. (5) Selecting the Final Price
Making the Price Right
Geographical Pricing
•Pricing varies by location
www.linkedin.com/in/maylin-calva
28. (5) Selecting the Final Price
Making the Price Right
Price Discounts and Allowances
1. Discount
2. Quantity discount
3. Functional discount
4. Seasonal discount
5. Allowance
www.linkedin.com/in/maylin-calva
29. (5) Selecting the Final Price
Making the Price Right
Promotional Pricing Tactics
1. Loss-leader pricing
2. Special-event pricing
3. Cash rebates
4. Low-interest financing
5. Longer payment terms
6. Warranties and service contracts
7. Psychological discounting
www.linkedin.com/in/maylin-calva
30. (5) Selecting the Final Price
Making the Price Right
Differentiated Pricing
1. Customer-segment pricing
2. Product-form pricing
3. Image pricing
4. Channel pricing
5. Location pricing
6. Time pricing
7. Yield pricing
www.linkedin.com/in/maylin-calva
31. (5) Selecting the Final Price
Making the Price Right
Traps in Price Cutting Strategies
1. Low-quality trap
2. Fragile-market-share trap
3. Shallow-pockets trap
4. Price-war trap
www.linkedin.com/in/maylin-calva
32. (5) Selecting the Final Price
Making the Price Right
Should We Raise Prices?
www.linkedin.com/in/maylin-calva
33. (5) Selecting the Final Price
Making the Price Right
Methods for Increasing Prices
1. Delayed quotation pricing
2. Escalator clauses
3. Unbundling
4. Reduction of discounts
www.linkedin.com/in/maylin-calva
34. (5) Selecting the Final Price
Making the Price Right
1. Maintain price
2. Maintain price and add value
3. Reduce price
4. Increase price and improve quality
5. Launch a low-price fighter line
Brand Leader Responses to Competitive Price Cuts
www.linkedin.com/in/maylin-calva
37. Summary
1. How do consumers process and evaluate prices?
Price remains a critical element of marketing.
It is the only element that produces revenue.
Pricing decisions are due to changing economic
and technological environment.
38. Summary
2. How should a company set prices initially for products or
services? A company follows a (6) six step procedure.
(1) It selects its pricing objectives.
(2)It estimates the demand curve, the probable quantities
(3) It will sell at each possible price.
(4)It estimates how its costs vary at different levels of
output, at different levels of accumulated production
experience and for differentiated marketing offer.
(5) It examines competitors costs, prices and offers.
(6) It selects a pricing method and it selects the final price
www.linkedin.com/in/maylin-calva
39. Summary
3. How should a company adapt prices to meet varying
circumstances and opportunities?
Companies usually a set pricing structure that reflects
variations in geographical demand and costs,
market segment requirements, purchase timing,
order levels and other factors. There are 4 price-
adaptation strategies available:
(1) geographical pricing,
(2) price discounts and allowances
(3) promotional pricing
(4) discriminatory pricing.
www.linkedin.com/in/maylin-calva
40. Summary
4. When should a company initiate a price change?
Firms often need to change their prices. A price decrease
might be brought about by excess plant capacity,
declining market share, a desire to dominate the
market through lower costs or economic recession
A price increase might be brought about by cost inflation
or over demand. Companies must carefully manage
customer perceptions when raising price.
www.linkedin.com/in/maylin-calva
41. Summary
5. How should a company respond to a competitor’s price
challenge?
Firms often need to change their prices. A price decrease
might be brought about by excess plant capacity,
declining market share, a desire to dominate the
market through lower costs or economic recession
A price increase might be brought about by cost inflation
or over demand. Companies must carefully manage
customer perceptions when raising price.
www.linkedin.com/in/maylin-calva
42. Summary
6. How should a company respond to a competitor’s
price challenge?
Companies must anticipate competitor price changes
and prepare contingent responses. A number of
responses are possible in terms of maintaining or
changing price or quality
www.linkedin.com/in/maylin-calva