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Developing pricing strategies and programs marketing
- 1. DEVELOPING PRICING STRATEGIES AND PROGRAMS Oleh : M. Hilman Azhari 335971 Prima P W 346423 Nurida Sandy K 346425
- 2. Understanding Pricing Synonyms for Pricing • Rent • Tuition • Fee • Fare • Rate • Toll • Premium • Honorarium • Special assessment • Bribe • Dues • Salary • Commission • Wage • Tax
- 3. A Changing Pricing Environment • Get instant price comparisons from thousands of vendors • Name their price and have it met • Get products free • Monitor customer behavior and tailor offers to individuals • Give certain customers access to special prices • Negotiate prices in online auctions and exchanges or even in person how the internet allows sellers to discriminate between buyers and buyers to discriminate between sellers Buyers can : Sellers can :
- 4. How Companies Price Common Pricing Mistakes • Determine costs and take traditional industry margins • Failure to revise price to capitalize on market changes • Setting price independently of the rest of the marketing mix • Failure to vary price by product item, market segment, distribution channels, and purchase occasion
- 5. Consumer Psychology and Pricing • Reference prices • Price-quality inferences • Price endings
- 6. Table 14.1 Possible Consumer Reference Prices Fair price” Typical price Last price paid Upper-bound price Lower-bound price Competitor prices Expected future price Usual discounted price
- 7. Setting The Price 1. Selecting the Pricing Objective 2. Determining Demand 3. Estimating Costs 4. Analyzing Competitor’s Costs, Prices, and Offers 5. Selecting a Pricing Method 6. Selecting the Final Price
- 8. Step 1: Selecting the Pricing Objective Survival Maximum current profit Maximum market share Maximum market skimming Product – quality leadership
- 9. Step 2: Determining Demand Price sensitivity Estimate demand curves Price elasticity of demand
- 10. Step 3: Estimating Costs • Types of costs • Accumulated production • Activity-based cost accounting • Target costing
- 11. Step 4 : Analyzing Competitor’s Costs, Prices, and Offers
- 12. Step 5 : Selecting a Pricing Method • Markup Pricing • Target-Return Pricing • Perceived-Value Pricing • Value-Pricing • Going-Rate Pricing • Auction-Type Pricing
- 13. Step 6 : Selecting the Final Price • Impact of other marketing activities • Company pricing policies • Gain-and-risk sharing pricing • Impact of price on other parties
- 14. Adapting The Price • Geographical Pricing • Price Discount and Allowances • Promotional Pricing • Differentiated Pricing
- 15. Geographical Pricing • Pricing varies by location
- 16. Price Discount and Allowances • Discount • Quantity discount • Functional discount • Seasonal discount • Allowance
- 17. Promotional Pricing • Loss-leader pricing • Special-event pricing • Cash rebates • Low-interest financing • Longer payment terms • Warranties and service contracts • Psychological discounting
- 18. Differentiated Pricing • Customer-segment pricing • Product-form pricing • Image pricing • Channel pricing • Location pricing • Time pricing
- 19. Initiating and Responding to Price Changes Initiating Price Cuts • Low-quality trap • Fragile-market-share trap • Shallow-pockets trap • Price-war trap
- 20. Initiating Price Cuts • Low-quality trap • Fragile-market-share trap • Shallow-pockets trap • Price-war trap
- 21. Initiating Price Increases • Delayed quotation pricing • Escalator clauses • Unbundling • Reduction of discounts
- 22. Responding to Competitor’s Price Changes Three possible respons to low-cost competitors are : 1. Further differentiate the product or service 2. Introduce a low-cost venture 3. Reinvent as a low-cost player
- 24. SAMSUNG