Fixed and variable costs, competition, opportunity cost, demand, and supply all affect pricing. Direct competition refers to businesses selling similar products, while indirect competition sells dissimilar products. Price competition uses price to attract customers, while non-price competition uses other factors. Demand depends on factors like utility, price, advertising, fashion, and consumer needs/wants. Supply is affected by costs of production, price, demand, profit goals, competition, and technology. Elasticity of demand, economic conditions, regulations, distribution channels, and company objectives also impact price.
What is Pricing Strategy and what are the objectives and factors affecting the Pricing Strategy.
There are Certain types of Pricing Strategies as well. Each and every strategy has its own affect on the product and services offered by an organization.
What is Pricing Strategy and what are the objectives and factors affecting the Pricing Strategy.
There are Certain types of Pricing Strategies as well. Each and every strategy has its own affect on the product and services offered by an organization.
Environmental influences on pricing decisions are discussed like currency fluctuations, exchange rat clauses, effect of inflation , government policies, competition etc.
Environmental influences on pricing decisions are discussed like currency fluctuations, exchange rat clauses, effect of inflation , government policies, competition etc.
WTO & Trade Issues - International Pricing.pptxDiksha Vashisht
The price of the product for domestic and export purposes shall be calculated in somewhat different manner. There are various methods of pricing the product in international market. Exporter may follow any method to calculate price. But before that he must be able to identify competitor’s price.
Great tips, resources, best practices and how-to's on Internet Marketing and Interactive Media esp. on how they affect products to plan launch and grow a wildly successful business.
The goal of the Intel Engage Community is to mobilize and inspire a community of educators to collaborate, discuss topics of concern, share ideas, online resources and strategies to transform the K-12 classroom
Learn the benefits of collaborating with a global community and how professional Learning Communities can provide the support for teachers to take charge of their personal professional learning.
Model Attribute Check Company Auto PropertyCeline George
In Odoo, the multi-company feature allows you to manage multiple companies within a single Odoo database instance. Each company can have its own configurations while still sharing common resources such as products, customers, and suppliers.
The Roman Empire A Historical Colossus.pdfkaushalkr1407
The Roman Empire, a vast and enduring power, stands as one of history's most remarkable civilizations, leaving an indelible imprint on the world. It emerged from the Roman Republic, transitioning into an imperial powerhouse under the leadership of Augustus Caesar in 27 BCE. This transformation marked the beginning of an era defined by unprecedented territorial expansion, architectural marvels, and profound cultural influence.
The empire's roots lie in the city of Rome, founded, according to legend, by Romulus in 753 BCE. Over centuries, Rome evolved from a small settlement to a formidable republic, characterized by a complex political system with elected officials and checks on power. However, internal strife, class conflicts, and military ambitions paved the way for the end of the Republic. Julius Caesar’s dictatorship and subsequent assassination in 44 BCE created a power vacuum, leading to a civil war. Octavian, later Augustus, emerged victorious, heralding the Roman Empire’s birth.
Under Augustus, the empire experienced the Pax Romana, a 200-year period of relative peace and stability. Augustus reformed the military, established efficient administrative systems, and initiated grand construction projects. The empire's borders expanded, encompassing territories from Britain to Egypt and from Spain to the Euphrates. Roman legions, renowned for their discipline and engineering prowess, secured and maintained these vast territories, building roads, fortifications, and cities that facilitated control and integration.
The Roman Empire’s society was hierarchical, with a rigid class system. At the top were the patricians, wealthy elites who held significant political power. Below them were the plebeians, free citizens with limited political influence, and the vast numbers of slaves who formed the backbone of the economy. The family unit was central, governed by the paterfamilias, the male head who held absolute authority.
Culturally, the Romans were eclectic, absorbing and adapting elements from the civilizations they encountered, particularly the Greeks. Roman art, literature, and philosophy reflected this synthesis, creating a rich cultural tapestry. Latin, the Roman language, became the lingua franca of the Western world, influencing numerous modern languages.
Roman architecture and engineering achievements were monumental. They perfected the arch, vault, and dome, constructing enduring structures like the Colosseum, Pantheon, and aqueducts. These engineering marvels not only showcased Roman ingenuity but also served practical purposes, from public entertainment to water supply.
Acetabularia Information For Class 9 .docxvaibhavrinwa19
Acetabularia acetabulum is a single-celled green alga that in its vegetative state is morphologically differentiated into a basal rhizoid and an axially elongated stalk, which bears whorls of branching hairs. The single diploid nucleus resides in the rhizoid.
Embracing GenAI - A Strategic ImperativePeter Windle
Artificial Intelligence (AI) technologies such as Generative AI, Image Generators and Large Language Models have had a dramatic impact on teaching, learning and assessment over the past 18 months. The most immediate threat AI posed was to Academic Integrity with Higher Education Institutes (HEIs) focusing their efforts on combating the use of GenAI in assessment. Guidelines were developed for staff and students, policies put in place too. Innovative educators have forged paths in the use of Generative AI for teaching, learning and assessments leading to pockets of transformation springing up across HEIs, often with little or no top-down guidance, support or direction.
This Gasta posits a strategic approach to integrating AI into HEIs to prepare staff, students and the curriculum for an evolving world and workplace. We will highlight the advantages of working with these technologies beyond the realm of teaching, learning and assessment by considering prompt engineering skills, industry impact, curriculum changes, and the need for staff upskilling. In contrast, not engaging strategically with Generative AI poses risks, including falling behind peers, missed opportunities and failing to ensure our graduates remain employable. The rapid evolution of AI technologies necessitates a proactive and strategic approach if we are to remain relevant.
Synthetic Fiber Construction in lab .pptxPavel ( NSTU)
Synthetic fiber production is a fascinating and complex field that blends chemistry, engineering, and environmental science. By understanding these aspects, students can gain a comprehensive view of synthetic fiber production, its impact on society and the environment, and the potential for future innovations. Synthetic fibers play a crucial role in modern society, impacting various aspects of daily life, industry, and the environment. ynthetic fibers are integral to modern life, offering a range of benefits from cost-effectiveness and versatility to innovative applications and performance characteristics. While they pose environmental challenges, ongoing research and development aim to create more sustainable and eco-friendly alternatives. Understanding the importance of synthetic fibers helps in appreciating their role in the economy, industry, and daily life, while also emphasizing the need for sustainable practices and innovation.
Instructions for Submissions thorugh G- Classroom.pptxJheel Barad
This presentation provides a briefing on how to upload submissions and documents in Google Classroom. It was prepared as part of an orientation for new Sainik School in-service teacher trainees. As a training officer, my goal is to ensure that you are comfortable and proficient with this essential tool for managing assignments and fostering student engagement.
2024.06.01 Introducing a competency framework for languag learning materials ...Sandy Millin
http://sandymillin.wordpress.com/iateflwebinar2024
Published classroom materials form the basis of syllabuses, drive teacher professional development, and have a potentially huge influence on learners, teachers and education systems. All teachers also create their own materials, whether a few sentences on a blackboard, a highly-structured fully-realised online course, or anything in between. Despite this, the knowledge and skills needed to create effective language learning materials are rarely part of teacher training, and are mostly learnt by trial and error.
Knowledge and skills frameworks, generally called competency frameworks, for ELT teachers, trainers and managers have existed for a few years now. However, until I created one for my MA dissertation, there wasn’t one drawing together what we need to know and do to be able to effectively produce language learning materials.
This webinar will introduce you to my framework, highlighting the key competencies I identified from my research. It will also show how anybody involved in language teaching (any language, not just English!), teacher training, managing schools or developing language learning materials can benefit from using the framework.
The French Revolution, which began in 1789, was a period of radical social and political upheaval in France. It marked the decline of absolute monarchies, the rise of secular and democratic republics, and the eventual rise of Napoleon Bonaparte. This revolutionary period is crucial in understanding the transition from feudalism to modernity in Europe.
For more information, visit-www.vavaclasses.com
2. What is price?
The amount
charged to
customers in
exchange for
goods and
services.
3. Fixed Costs Variable Costs
Costs that remain
constant over a period
of time regardless of
sales volume.
Costs that vary based
on sales volume or
changes in business
needs.
• Insurance
• Rent/Mortgage
• Salaries
• Depreciation
• Commissions
• Advertising
• Office Supplies
• Utilities
4. Competition – A
rivalry between
two or more
businesses for
scarce
consumer
dollars.
Direct Competition –
Competition between
businesses that have
similar formats and
sell similar products.
Direct
Competition
• Coke & Pepsi
• Nike & Reebok
• Hilton &
Marriott
Indirect Competition
– Competition
between businesses
that have dissimilar
formats and sell
dissimilar products.
Indirect
Competition
• Movie theatre &
Mall
• Airline & cruise
line
Classifications
of Competition
5. The option that is
given up when a
consumer chooses
one product/service
over another.
If someone chooses
airline travel instead of
a cruise, the
opportunity cost is not
taking the cruise.
6. Price Competition Non-Price Competition
A competitive strategy in which
businesses use price as a means to
attract customers. The marketer
assumes that all things being equal,
the customer will choose the
product with the lowest price
A competitive strategy in which
businesses use factors other than
price as a means to attract
customers.
Example: Walmart’s primary
competition focus is offering their
products at lower prices than their
competitors.
Example: A marketer who cannot
compete with lower prices might use
product quality, customer services,
and business image to attract
customers.
Two Major Types of Competition
7. Demand
• The number of products consumers
are willing to buy at a given time and
at a given price.
Supply
• The number of products
manufacturers are willing to produce
at a given time and at a given price.
8. Utility –
how useful
is the
product.
Price – the
more
expensive,
the less
demand
Advertising –
making
public aware
increases
demand.
Personal selling –
explaining the
features and
benefits to a
customer to
stimulate demand
Fashion –
the product
in style
Display –
seeing what
the product
looks like or
how it
performs
Consumer
wants/needs –
is the
product/service a
necessity or just
a desire?
Factors that Affect
Demand
9. “Factors that Affect Supply
Cost of production Will affect how much a producers supplies
Price The more expensive the less that may be suppl
Consumer demand The more demand, the more supplied
Profit goals How much does the business want to make
Competition Is there any, if so price and supply are importan
Government controls May affect supply if government has quotas or r
New Technology Could increase supply or create a better produc
10. Factors that Affect Price
Elastic Demand
• A product is said to
have elastic demand if
demand for the product
is sensitive to a change
in price.
• Non-essential products
such as entertainment,
specialty foods, fashion
Inelastic Demand
• A product is said to
have inelastic demand
if demand for the
product is not sensitive
to a change in price.
These products are
usually considered
necessities to the
customer.
• Gasoline, milk, bread,
and electricity
Economic Conditions
• Economic health
affects price by
affecting consumer
buying power.
Consumers who
experience changes
(positively or
negatively) in their
buying power alter their
spending habits in
response to those
changes. An individual
who is laid off from
his/her job will not tend
to spend a great deal
of money on non-
essential items due to
the uncertainty of
his/her economic
future.
11. Factors that Affect Price
Government
regulations
• Aside from federal and
state laws that prohibit
unfair pricing
techniques, labor laws,
environmental
regulations, and tax
policy can have an
effect on how a
business owner has to
price products
Channel Members
• The intermediaries in a
channel of distribution
all charge a fee for
their services. These
fees are affected by the
same factors that affect
retail price. As a result,
channel members’
price changes reach
the consumer by
affecting the cost of
products to
businesses.
Company
Objectives/Strategies
• An organization whose
sole objective is to
survive the first critical
year of business will
look at price planning
completely differently
from an organization
whose goal is to
remain the market
leader. Price planners
must examine the
objectives and
strategies of the
company and consider
all of the various
elements that combine
to make a business
successful.
