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The presentation discusses different pricing strategies for products and services. It argues that price should reflect the total cost of production rather than perceived value, which can be risky and unfair. The presentation provides examples of companies that use cost-based pricing, including Coal India, Big Bazaar, and Jindal Steel. It acknowledges some disadvantages of focusing only on costs but concludes that cost-based pricing is more ethical and fair to customers.
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How should a company set prices initially for products or services?
A company must set an initial price for new products or when entering new markets. There is a 5-step process: 1) Select a pricing objective like survival, maximum profit, or market share. 2) Determine demand through price sensitivity and demand curves. 3) Estimate costs like fixed, variable, and average costs. 4) Analyze competitors' prices and offers. 5) Select a pricing method like markup or target-return pricing and consider costs, competition, and customer value to set the final price. The main strategies are selecting the objective, determining demand, estimating costs, analyzing competition, selecting a method, and setting the final price.
Pricing Strategies
Companies must consider laws governing fair pricing practices when setting prices. These laws address issues like price fixing, predatory pricing, and unfair discrimination within and across distribution channels. Price fixing involves competitors agreeing on prices, while predatory pricing undercuts rivals. Unfair discrimination occurs when sellers charge different prices to similar customers. Laws also regulate requiring retail prices and deceptive advertising of price savings.
Determinants of price
There are internal and external factors that determine price. Internal factors include marketing objectives, costs, and organizational considerations. External factors include market demand, competition, economic conditions, and government actions. When setting price, companies consider costs, value to customers, competition, and promotional strategies. The optimal pricing strategy depends on the product, market conditions, and business objectives.
Factors Affecting Price
The document describes different types of market structures: perfect competition where many buyers and sellers transact standardized products at a single market price; monopoly where a single seller dominates the market and can set a profit-maximizing price; monopolistic competition where many firms offer similar but differentiated products giving them some monopolistic power; and oligopoly where a small number of large firms control the market and can influence prices. It also mentions factors like costs of production, customer demand in response to price, distribution costs, and existing market competition that influence business pricing and promotion decisions.
How should a company respond to a competitor's price change
A firm facing a competitor's price cut must consider several factors in determining their response: the product life cycle stage, their portfolio, the competitor's intentions and resources, market price and quality sensitivity, their own cost structure, alternative opportunities, and whether the market is homogeneous or non-homogeneous. In a homogeneous market, the firm can lower costs, enhance their product, or match the price if beneficial. In a non-homogeneous market, the firm must understand the competitor's intent, whether the price change is temporary, and how it may impact their market share and profits as well as how other companies may respond.
How should a company respond to competitors price change?
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Pricing strategies1
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.
Porter’s Five Forces Model of Competitive Analysis
The document provides an overview of Porter's Five Forces analysis framework. It describes the five competitive forces as threats of new entry, power of suppliers, power of buyers, threat of substitutes, and competitive rivalry. For each force, it outlines factors that determine the degree of competitive pressure, and provides examples of how each force applies to industries like fast food, automotive manufacturing, and telecommunications. The purpose of Porter's model is to help companies assess the competitive environment of an industry in order to develop effective business strategies.
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How should a company set prices initially for products or services?
A company must set an initial price for new products or when entering new markets. There is a 5-step process: 1) Select a pricing objective like survival, maximum profit, or market share. 2) Determine demand through price sensitivity and demand curves. 3) Estimate costs like fixed, variable, and average costs. 4) Analyze competitors' prices and offers. 5) Select a pricing method like markup or target-return pricing and consider costs, competition, and customer value to set the final price. The main strategies are selecting the objective, determining demand, estimating costs, analyzing competition, selecting a method, and setting the final price.
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Pricing strategies1
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.
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The document discusses five approaches to setting price objectives for non-profit organizations: surplus maximization, cost recovery, market size maximization, social equity, and market disincentivization. It provides details on each approach, including pros and cons. For example, cost recovery focuses on covering operating costs but can hinder expansion. Market size maximization sets low prices to attract more customers but risks customers perceiving the product as low quality. The document also discusses "a la carte" pricing and provides examples of how the SPCA of Wake County could implement various forms of a la carte pricing for their services and programs.
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Surveys a number of essential issues related to pricing and public policy in market economies. Begins with a brief review of the price-determination process in competitive markets, then examines a range of topics involving pricing and public policy in monopoly and oligopoly markets. Includes a number of graphs that illustrate the relationship between costs, demand, price, efficiency, and profitability under various market conditions.
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how real-world companies price their products.
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Competitors and competition ~ industry and competitive analysis
This document summarizes key points from Chapter 8 of the textbook "Economics of Strategy" regarding competitors and competition. It defines direct and indirect competitors and outlines approaches for identifying competitors, including based on product characteristics, use occasions, geography, and empirical methods. It also discusses different market structures like perfect competition, monopoly, monopolistic competition, and oligopoly, and contrasts outcomes under Cournot and Bertrand models of oligopoly.
factors affecting Pricing
The document outlines several key factors that affect pricing decisions, including marketing objectives, competition, costs, and product characteristics. It also discusses different pricing methods such as cost-based pricing, market-oriented pricing, and competitive bidding. When introducing new products, the document notes that companies may use price skimming or penetration pricing strategies. It finally covers various pricing policies including discounts, transfer pricing, geographic pricing, and leasing options.
Mb0042 managerial economics
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Send your semester & Specialization name to our mail id :
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How should a company respond to a competitor's price change
This document discusses factors to consider when responding to a competitor's price change, including the product's life cycle stage, its importance to the company's portfolio, and the competitor's intentions and resources. It advises that in homogeneous markets, companies should find ways to enhance their product or meet price reductions only if it benefits the industry. For non-homogeneous markets, the document suggests determining why the competitor changed prices, if the change is temporary or permanent, and considering the impact on the company's market and profits of not responding, as well as likely responses from competitors to different reaction strategies.
Business Objectives and Pricing Strategies
In this short revision video we look at a range of business objectives and how they affect the price that might be charged to consumers.
Key revision points:
Objectives often driven by managerial motives
Interdependent behaviour in an oligopoly - firms must consider the likely reactions of rivals
Most businesses are satisficers rather than maximisers
Regulatory interventions do matter e.g. price capping
More firms now use big data to drive revenues
Consumers are increasingly sensitive to issues surrounding fair / ethical pricing
Low bargaining power of suppliers 2014
This document discusses the bargaining power that suppliers have over restaurants and strategies for restaurants to counter that power. It begins by defining bargaining power as the ability to influence prices. It then notes that when suppliers have bargaining power, they can charge higher prices, lower quality, or control availability. The document lists conditions when supplier groups are powerful. It discusses how monopolistic suppliers threaten restaurant success. Finally, it provides strategies for restaurants to develop alternative suppliers and increase their own bargaining power such as joining cooperatives, monitoring prices, and keeping tight inventory.
Seliecting pricing policy
The document discusses several key points to consider when selecting pricing policies:
1) Determine the pricing objective such as profit maximization, market penetration, or maintaining quality leadership.
2) Estimate demand by analyzing factors like price sensitivity and developing demand curves.
3) Estimate costs such as fixed, variable, and average costs using approaches like experience curves.
4) Analyze competitors' costs, prices, and offers to understand the competitive landscape.
5) Select a pricing method then determine the final price based on objectives, costs, demand, and competitors.
Porter five forces of strategic analysis
This document summarizes Michael Porter's Five Forces model of strategic analysis. The five competitive forces that determine the profitability and attractiveness of an industry are: the bargaining power of suppliers, the bargaining power of customers, the threat of new entrants, the threat of substitutes, and the threat of existing competition. Each force is influenced by several factors that must be analyzed internally regarding a company's resources and externally regarding industry conditions. The model provides a framework for analyzing an industry's structure to determine where power lies and how a company can gain competitive advantages.
Industry analysis (2)
The document analyzes industry structure and competition. It discusses Porter's five forces model, which examines the competitive environment through the threat of new entrants, bargaining power of suppliers and buyers, threat of substitutes, and rivalry among existing competitors. The five forces determine industry profitability and attractiveness. Industries with high barriers to entry, limited substitutes, and fragmented competition are generally more profitable. The document also provides an example analysis of competition in the airline industry in North America using Porter's five forces framework.
Porter's five forces model marketing
Porter's Five Forces model analyzes five competitive forces that shape an industry: 1) rivalry among existing competitors, 2) threat of new entrants, 3) bargaining power of suppliers, 4) bargaining power of buyers, and 5) threat of substitute products. The model helps businesses understand the profitability and attractiveness of an industry sector by identifying its weaknesses and strengths. Analyzing these competitive forces can help companies improve their profitability by adjusting their strategy accordingly.
Porter's Five Forces Model
Porter's five forces framework analyzes competition within an industry by considering five competitive forces: the threat of new entrants, the threat of substitutes, the bargaining power of buyers, the bargaining power of suppliers, and rivalry among existing competitors. The five forces determine the profitability and attractiveness of an industry. An unattractive industry has forces that drive down overall profitability. Porter's five forces model originated from the work of Michael Porter at Harvard University.
Influences of Poter’s five forces model in an industry
Porter’s Five Forces model is a powerful management tool for analyzing the current industry profitability and attractiveness by using the outside-in perspective. Within the last decades, the model has attracted some criticism because of the developing Internet economy. Due to an increasing significance of Digitalization, Globalization and Deregulation, the industry structure of the ‘Old Economy’ changed fundamentally. The ‘New Economy’ is not comparable with the ‘Old Economy’, which is the basis of the Five Forces model. Moreover the last decades have shown that Information Technology became more and more important. Nowadays Technology is one of the most important drivers for change and not only important for the implementation of change. Today new technology is one of the most important drivers for change. Furthermore Porter also couldn’t take the growing significance of ‘Government Deregulation’ into account. In 1979 the government was able to regulate the market by defining and enforcing “property rights and the rules of competition”. In the past 20 years, governmental influence on industries decreased steadily. Therefore the most of the concerned industries (airlines, communication, or banking industry) were able and constrained to search for alternatives and to structure their business in a new way.
Forces that Shape our Company Strategy
The document discusses Porter's four competitive forces that can harm business success: savvy customers, powerful suppliers, aspiring entrants, and substitute offerings. It defines each force and provides examples. The document also discusses ways for companies to deal with and overcome these forces, such as standardizing parts to reduce supplier power, expanding services to counter customer power, differentiating products to temper price wars, escalating costs to deter new entrants, and offering better value to limit substitutes.
Pricing Ppt
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.
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The document discusses five approaches to setting price objectives for non-profit organizations: surplus maximization, cost recovery, market size maximization, social equity, and market disincentivization. It provides details on each approach, including pros and cons. For example, cost recovery focuses on covering operating costs but can hinder expansion. Market size maximization sets low prices to attract more customers but risks customers perceiving the product as low quality. The document also discusses "a la carte" pricing and provides examples of how the SPCA of Wake County could implement various forms of a la carte pricing for their services and programs.
Note on Pricing and Public Policy
Surveys a number of essential issues related to pricing and public policy in market economies. Begins with a brief review of the price-determination process in competitive markets, then examines a range of topics involving pricing and public policy in monopoly and oligopoly markets. Includes a number of graphs that illustrate the relationship between costs, demand, price, efficiency, and profitability under various market conditions.
Pricing in Economics
This document discusses market pricing decisions and market structures using Porter's model. It covers the key market structures of perfect competition, monopoly, monopolistic competition, and oligopoly. For each structure, it examines how firms make output and pricing decisions based on factors like demand elasticity, costs, and competitors' actions. It also analyzes the implications of each market structure for public interest, including impacts on prices, output, innovation, and resource allocation. Non-price competition strategies like advertising and product development are also briefly discussed.
Pricing Policy in Marketing
Pricing is one of the most important elements of the marketing mix, as it is the only mix, which generates a turnover for the organization.
Factors affecting pricing
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.
how real-world companies price their products.
This document discusses different pricing strategies used by companies, including price skimming, penetration pricing, and geographical pricing. Price skimming involves setting a high initial price for new products to target less price-sensitive customers. Penetration pricing aims to maximize sales volume by lowering prices for products entering established markets. Geographical pricing accounts for differences in cost of living across markets. The apparel industry faces tradeoffs between high and low prices to attract budget, value, or luxury shoppers. Companies must consider factors like demand elasticity, production costs, and competition when selecting the appropriate pricing strategy.
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factors affecting Pricing
The document outlines several key factors that affect pricing decisions, including marketing objectives, competition, costs, and product characteristics. It also discusses different pricing methods such as cost-based pricing, market-oriented pricing, and competitive bidding. When introducing new products, the document notes that companies may use price skimming or penetration pricing strategies. It finally covers various pricing policies including discounts, transfer pricing, geographic pricing, and leasing options.
Mb0042 managerial economics
Dear students get fully solved assignments
Send your semester & Specialization name to our mail id :
“ help.mbaassignments@gmail.com ”
or
Call us at : 08263069601
(Prefer mailing. Call in emergency )
How should a company respond to a competitor's price change
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In this short revision video we look at a range of business objectives and how they affect the price that might be charged to consumers.
Key revision points:
Objectives often driven by managerial motives
Interdependent behaviour in an oligopoly - firms must consider the likely reactions of rivals
Most businesses are satisficers rather than maximisers
Regulatory interventions do matter e.g. price capping
More firms now use big data to drive revenues
Consumers are increasingly sensitive to issues surrounding fair / ethical pricing
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1) Determine the pricing objective such as profit maximization, market penetration, or maintaining quality leadership.
2) Estimate demand by analyzing factors like price sensitivity and developing demand curves.
3) Estimate costs such as fixed, variable, and average costs using approaches like experience curves.
4) Analyze competitors' costs, prices, and offers to understand the competitive landscape.
5) Select a pricing method then determine the final price based on objectives, costs, demand, and competitors.
Porter five forces of strategic analysis
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The document discusses Porter's four competitive forces that can harm business success: savvy customers, powerful suppliers, aspiring entrants, and substitute offerings. It defines each force and provides examples. The document also discusses ways for companies to deal with and overcome these forces, such as standardizing parts to reduce supplier power, expanding services to counter customer power, differentiating products to temper price wars, escalating costs to deter new entrants, and offering better value to limit substitutes.
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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.
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“Porter’s five forces model is an analysis tool that uses five forces to determine the profitability of an industry and shape a firm’s competitive strategy”[1]
“It is a framework that classifies and analyzes the most important forces affecting the intensity of competition in an industry and its profitability level.”
A firm pursuing a cost-leadership strategy attempts to gain a competitive advantage primarily by reducing its economic costs below its competitors.
If cost-leadership strategies can be implemented by numerous firms in an industry, or if no firms face a cost disadvantage in imitating a cost-leadership strategy, then being a cost leader does not generate a sustained competitive advantage for a firm. The ability of a valuable cost-leadership competitive strategy to generate a sustained competitive advantage depends on that strategy being rare and costly to imitate.
Price
1. The document discusses various pricing objectives, methods, strategies, and considerations for setting prices. The key objectives discussed are survival pricing, maximizing current profits, maximizing market share, market skimming, and achieving product quality leadership.
2. Multiple factors influence pricing decisions, including costs, customer demand, competition, and the company's pricing policies. Different pricing methods are used in different market situations, like cost-plus pricing, target return pricing, and going rate pricing.
3. Adopting final prices requires considering impacts on other marketing activities, distribution channels, competitors, and regulations. A pricing structure is generally used that accounts for various customer segments, purchase conditions, and locations.
Lean pricing startups
Why is this book so important? One of the biggest lessons I have learned within the startup landscape is that even though pricing, together with the business model, remains by far the lever that most impacts revenue, the subject is a sensitive one.
Pricing is a strong — but often underused — tool available to capture a share of value created for customers
Pricing is one of the biggest challenges that startup face. The book is a practical toolkit that positively influences the pricing strategies of startups. It reveals insights in the different pricing methods and tactics used by successful companies.
Pricing In Marketing - UNIT-5 & 6-PRICING.ppt
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
How To Choose The Right Price For Your Product Or Service PowerPoint Presenta...
Use How To Choose The Right Price For Your Product Or Service PowerPoint Presentation Slides to create a visually-sound presentation. This PPT theme helps you in showcasing and setting the selling price of a company product. Consolidate all the elements required to construct an effective pricing plan. Employ this well-structured PowerPoint slideshow to portray what determines the price of a product. Our PPT template is ideal for demonstrating how to calculate the price of a product. Elucidate premium pricing, economy pricing, psychology pricing, penetration pricing, price skimming, and anchor pricing. Utilize this PowerPoint presentation to educate the audience about the basics of how to price a product for retail. Shed light on bundle pricing, value pricing, promotional pricing, cost-based pricing, and loss leader pricing using PPT slideshow. Showcase how pricing of products and services is carried out. Illustrate the law of demand or subscription pricing model by utilizing the impactful visuals of our PowerPoint theme. Cover aspects like dynamic pricing model, pricing options, and three-tier pricing strategy by downloading this PPT presentation. https://bit.ly/3dw3DJg
Strategy DevelopmentWeek 3Objectives Week 3Devel.docx
Strategy Development
Week 3
Objectives Week 3Develop strategic objectives.
Create organizational objectives and goals.
Articulate value proposition, key activities, resources, and channels to market.
Quote……
“Successful business strategy is about actively shaping the game you play, not just playing the game you find.”
Adam M. Brandenburger and Barry J. Nalebuff
Quote……
“The essence of strategy lies in creating tomorrow’s competitive advantage faster than competitors mimic the ones you posses today”
Gary Hamel and C.K. Prahalad
Quote……
“Competitive strategy is about being different. It means deliberately choosing to perform activities differently or to perform different activities than rivals to deliver a unique mix of value”.
—Michael E. Porter
Quote……
“Winners in business play rough and don’t apologize for it. The nicest part of playing hardball is watching your competitors squirm”
—George Stalk, Jr., and Rob Lachenauer”
Long-Term ObjectivesStrategic managers recognize that short-run profit maximization is rarely the best approach to achieving sustained corporate growth and profitability.Strategic decision makers confronts:
Should they eat the seeds to improve the near-term profit picture and make large dividend payments through cost-saving measures such as laying off workers during periods of slack demand, selling off inventories, or cutting back on research and development?
Or should they sow the seeds in the effort to reap long-term rewards by reinvesting profits in growth opportunities, committing resources to employee training, or increasing advertising expenditures?
Long-Term ObjectivesTo achieve long-term prosperity, strategic planners commonly establish long-term objectives in seven areas: Profitability Competitive PositionEmployee RelationsTechnological Leadership Productivity – In-OutEmployee DevelopmentPublic Responsibility
Qualities of Long-Term ObjectivesWhat distinguishes a good objective from a bad one? What qualities of an objective improve its chances of being attained?There are five criteria that should be used in preparing long-term objectives:
Flexible
Measurable
Motivating
Suitable
Understandable
The Balanced ScorecardThe balanced scorecard is a set of measures that are directly linked to the company’s strategy
Developed by Robert S. Kaplan and David P. Norton, it directs a company to link its own long-term strategy with tangible goals and actions.
The scorecard allows managers to evaluate the company from four perspectives:
financial performance
customer knowledge
internal business processes
learning and growth
The Balance Scorecard
The Balance Scorecard
The Balance ScorecardPerspectiveObjectiveKPIGoal for 2014FinanceBecome industry Cost Leader% Reduction in Cost per Unit20%Utilization of AssetsUtilization Rate7%Increase Market ShareMarket Share30%CustomerCustomer Retention% Retention 75%On Time Delivery% of On Time Delivery90%Zero Defects% of Good Quality.
Principles of marketing topic 6 price 2021
The document discusses various types of pricing strategies and concepts. It begins by defining key terms like cost, price, and different pricing strategies such as good-value pricing and value-added pricing. It then covers customer value-based pricing, cost-based pricing including incremental cost pricing and break-even analysis. Competitive based pricing and types like pricing at the current rate and closed bid pricing are explained. The document also discusses market skimming and penetration pricing strategies and concludes by summarizing product mix pricing strategies such as product line pricing, optional features pricing, captive product pricing, by-product pricing, and product bundle pricing.
Pricing
This Presentation Includes following Topics:
Factors Affecting Price Decisions, Cost Based Pricing, Value-Based and Competition-Based Pricing, Product Mix Pricing Strategies, Adjusting the Price of the Product, Initiating and Responding to the Price Changes,
Pricing In A Downturn
There are simply some things that all marketers must do during a downturn. In this section we’ll cover the essentials of how to think about pricing, discounting and coupon strategies on a downturn along with some essential discussion on budgets and marketing spending. We’ll review case examples of what leading marketers from all industries have done in recessions and learn from their results.
Pricing strategy
This document outlines various pricing strategies and considerations for setting prices. It discusses determining costs, market research, pricing goals, analyzing competitors, and selecting a pricing strategy. The strategies covered include market skimming, market penetration, premium pricing, loss leader pricing, going rate pricing, tender pricing, price discrimination, promotional pricing, predatory pricing, and target pricing. The document emphasizes understanding costs, market research, and selecting the appropriate strategy to meet pricing objectives and strengthen chances of achieving sales and profit goals.
Business plan ppt babasab patil
The document discusses several key topics related to business planning and entrepreneurship including Michael Porter's five forces model, generic strategies for competitive advantage like cost leadership and differentiation, strategic positioning, critical success factors for different industries, and comparisons of prior and contemporary business environments. It also profiles several social entrepreneurs and women entrepreneurs who have made impacts and introduces concepts like social venture capital.
Competition based pricing
This document discusses various competition-based pricing strategies that companies can use, including price leadership, predatory pricing, penetration pricing, skimming pricing, prestige pricing, price discrimination, and promotional pricing. It notes that price leadership involves a dominant firm setting prices that competitors then follow. Predatory pricing aims to drive out rivals but can be anti-competitive. Penetration pricing uses low initial prices to gain market share, while skimming pricing charges high initial prices for innovative products before competitors enter. The document also outlines advantages and disadvantages of competition-based pricing strategies.
The importance of marketing mix to the Travel, Tourism and Hospitality manage...
The importance of marketing mix to the Travel, Tourism and Hospitality manage...Paul Solaman Srilal 🇱🇰
The document discusses the components of the marketing mix and their importance to the travel, tourism, and hospitality industry. It analyzes pricing strategies and policies related to the industry. The marketing mix, also known as the 8Ps, includes product, price, place, promotion, people, packaging, programming, and partnership. Pricing strategies discussed include those for new product introduction, growth, maturity, and decline stages of the product lifecycle. Factors influencing pricing decisions such as costs, demand, and competition are also examined.Pricing stratergies ppt
The document discusses pricing strategies and objectives. It explains that price is the only element of the marketing mix that generates revenue, while other elements like product, place and promotion result in costs. The key objectives for setting prices include survival, maximizing current profits, gaining maximum market share through penetration pricing, utilizing market skimming for new products, and being a quality leader through premium "affordable luxury" pricing. Firms estimate costs, including fixed, variable and total costs, and determine demand curves through surveys, price experiments and statistical analysis to identify the optimal price point between the price ceiling of demand and price floor of costs.
Pricing - Strategies
The document discusses factors that affect pricing decisions and strategies companies use. It notes that companies should consider consumer psychology and perception of value, not just economics, when setting prices. Price serves as a quality signal when customers cannot judge quality directly. The document also outlines different pricing objectives, methods for determining base prices, and strategies for pricing, promotions, and product variations.
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How To Choose The Right Price For Your Product Or Service PowerPoint Presenta...
How To Choose The Right Price For Your Product Or Service PowerPoint Presenta...
Strategy DevelopmentWeek 3Objectives Week 3Devel.docx
Strategy DevelopmentWeek 3Objectives Week 3Devel.docx
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The importance of marketing mix to the Travel, Tourism and Hospitality manage...
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Time and again, the business group has taken up new business ventures, each of which has allowed it to expand its horizons further and reach new heights. Even amidst the Adani CBI Investigation, the firm has always focused on improving its cement business.
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Une évaluation comparable de la performance basée sur le temps d'escale des navires
L'objectif de l'ICPP est d'identifier les domaines d'amélioration qui peuvent en fin de compte bénéficier à toutes les parties concernées, des compagnies maritimes aux gouvernements nationaux en passant par les consommateurs. Il est conçu pour servir de point de référence aux principaux acteurs de l'économie mondiale, notamment les autorités et les opérateurs portuaires, les gouvernements nationaux, les organisations supranationales, les agences de développement, les divers intérêts maritimes et d'autres acteurs publics et privés du commerce, de la logistique et des services de la chaîne d'approvisionnement.
Le développement de l'ICPP repose sur le temps total passé par les porte-conteneurs dans les ports, de la manière expliquée dans les sections suivantes du rapport, et comme dans les itérations précédentes de l'ICPP. Cette quatrième itération utilise des données pour l'année civile complète 2023. Elle poursuit le changement introduit l'année dernière en n'incluant que les ports qui ont eu un minimum de 24 escales valides au cours de la période de 12 mois de l'étude. Le nombre de ports inclus dans l'ICPP 2023 est de 405.
Comme dans les éditions précédentes de l'ICPP, la production du classement fait appel à deux approches méthodologiques différentes : une approche administrative, ou technique, une méthodologie pragmatique reflétant les connaissances et le jugement des experts ; et une approche statistique, utilisant l'analyse factorielle (AF), ou plus précisément la factorisation matricielle. L'utilisation de ces deux approches vise à garantir que le classement des performances des ports à conteneurs reflète le plus fidèlement possible les performances réelles des ports, tout en étant statistiquement robuste.
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MECE (Mutually Exclusive, Collectively Exhaustive) Principle
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Unlock the full potential of the MECE (Mutually Exclusive, Collectively Exhaustive) Principle with this comprehensive PowerPoint deck. Designed to enhance your analytical skills and strategic decision-making, this presentation guides you through the fundamental concepts, advanced techniques, and practical applications of the MECE framework, ensuring you can apply it effectively in various business contexts.
The MECE Principle, developed by Barbara Minto, an ex-consultant at McKinsey, is a foundational tool for structured thinking. Minto is also renowned for the Minto Pyramid Principle, which emphasizes the importance of logical structuring in writing and presenting ideas. This presentation includes a clear explanation of the MECE principle and its significance. It offers a detailed exploration of MECE concepts and categories, highlighting how to create mutually exclusive and collectively exhaustive segments. You will learn to combine MECE with other powerful business frameworks like SWOT, Porter's Five Forces, and BCG Matrix. Discover sophisticated methods for applying MECE in complex scenarios and enhancing your problem-solving abilities. The deck also provides a step-by-step guide to performing thorough and structured MECE analyses, ensuring no aspect is overlooked. Insider tips are included to help you avoid common mistakes and optimize your MECE applications.
The presentation features illustrative examples from various industries to show MECE in action, providing practical insights and inspiration. It includes engaging group activities designed for the practice of the MECE principle, fostering collaborative learning and application. Key takeaways and success factors for mastering the MECE principle and applying it in your professional work are also covered.
The MECE Principle presentation is meticulously designed to provide you with all the tools and knowledge you need to master the MECE principle. Whether you're a business analyst, manager, or strategist, this presentation will empower you to deliver insightful and actionable analysis, drive better decision-making, and achieve outstanding results.
LEARNING OBJECTIVES:
1. Understand the MECE Principle
2. Improve Analytical Skills
3. Apply MECE Framework
4. Enhance Decision-Making
5. Optimize Resource Allocation
6. Facilitate Strategic Planning
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MECE (Mutually Exclusive, Collectively Exhaustive) Principle
MECE (Mutually Exclusive, Collectively Exhaustive) Principle