How should a company adapt prices to meet varying circumstances and opportunities
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The document discusses various price adaptation strategies used by companies, including geographical pricing, price discounts and allowances, promotional pricing, and differentiated pricing. Geographical pricing accounts for demand and costs in different locations. Price discounts and allowances incentivize early payment, volume purchases, and off-season buying. Promotional pricing uses tactics like loss leaders, special event prices, and rebates. Differentiated pricing discriminates based on demand levels, volume, usage tiers, customer segments, products, channels, locations, and time. Companies adopt pricing structures reflecting these geographic, market segment, and purchasing factors.
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When should a company initiate a price change
The document discusses factors that companies consider when initiating or responding to price changes. When cutting prices, companies may do so due to excess plant capacity or a drive to dominate the market through lower costs. However, price cuts can also lead to traps like customers assuming lower quality or a fragile market share without loyalty. Price increases may occur due to cost inflation, anticipatory pricing, or overdemand. Companies must carefully manage customer perceptions when adjusting prices and may adopt alternatives like product downsizing, reducing services, or offering fewer models to avoid price hikes.
How do consumers process and evaluate prices
Consumers process and perceive prices based on their market segment, reference prices from comparisons, and inferences about quality. The internet has changed how consumers get pricing information and compare thousands of vendors. Marketers should consider consumer psychology and frame prices in terms of quality when stating prices to customers, aiming for price points that consumers perceive as fair while meeting business goals.
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The document outlines a six step procedure for setting prices: 1) select a pricing objective, 2) determine demand, 3) estimate costs, 4) analyze competitors, 5) select a pricing method, and 6) select the final price. Key considerations for each step include determining price sensitivity and elasticity of demand, estimating total, fixed, and variable costs, anticipating competitors' reactions, and selecting a pricing method like markup or value-based pricing that accounts for quality and perceived value. The final price is impacted by marketing activities and balances reasonable prices for users with profits for the company.
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This document discusses pricing decisions and economic theory. It covers determining pricing based on demand elasticity and using marginal cost and marginal revenue to maximize profits. The role of costs in pricing for price takers and price setters in both the short and long run is examined. Product mix decisions and different pricing policies like cost-plus, skimming, and penetration pricing are also summarized.
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This document discusses pricing decisions and strategies for companies. It outlines 6 steps in setting prices: 1) selecting a pricing objective, 2) determining demand, 3) estimating costs, 4) analyzing competitors' prices, 5) selecting a pricing method, and 6) selecting the final price. It describes various pricing methods like markup pricing, target-return pricing, and perceived-value pricing. It also discusses ways to adapt prices through discounts, promotions, and differentiated pricing strategies.
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The document outlines 6 steps in setting price: 1) select the price objective, 2) determine demand, 3) estimate costs, 4) analyze competitor price mix, 5) select pricing method, and 6) select final price. Examples are provided for each step and pricing concepts are explained with diagrams and stories. The document aims to teach marketing concepts through illustrations and real-world examples from the author's blog.
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The document discusses several pricing methods that companies use to determine prices for goods and services. It describes cost plus pricing, where a company adds a markup percentage to their total costs to determine the price. It also outlines market skimming pricing, where a high initial price is set to earn profits from early adopters, and value pricing, where the price is based on the perceived value to customers. Finally, it summarizes penetration pricing, where a low initial price is used to gain market share, and target pricing, where the price is set to achieve a specific profit goal.
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When should a company initiate a price change
The document discusses factors that companies consider when initiating or responding to price changes. When cutting prices, companies may do so due to excess plant capacity or a drive to dominate the market through lower costs. However, price cuts can also lead to traps like customers assuming lower quality or a fragile market share without loyalty. Price increases may occur due to cost inflation, anticipatory pricing, or overdemand. Companies must carefully manage customer perceptions when adjusting prices and may adopt alternatives like product downsizing, reducing services, or offering fewer models to avoid price hikes.
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Consumers process and perceive prices based on their market segment, reference prices from comparisons, and inferences about quality. The internet has changed how consumers get pricing information and compare thousands of vendors. Marketers should consider consumer psychology and frame prices in terms of quality when stating prices to customers, aiming for price points that consumers perceive as fair while meeting business goals.
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This document discusses pricing decisions and economic theory. It covers determining pricing based on demand elasticity and using marginal cost and marginal revenue to maximize profits. The role of costs in pricing for price takers and price setters in both the short and long run is examined. Product mix decisions and different pricing policies like cost-plus, skimming, and penetration pricing are also summarized.
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This document discusses pricing decisions and strategies for companies. It outlines 6 steps in setting prices: 1) selecting a pricing objective, 2) determining demand, 3) estimating costs, 4) analyzing competitors' prices, 5) selecting a pricing method, and 6) selecting the final price. It describes various pricing methods like markup pricing, target-return pricing, and perceived-value pricing. It also discusses ways to adapt prices through discounts, promotions, and differentiated pricing strategies.
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The document outlines 6 steps in setting price: 1) select the price objective, 2) determine demand, 3) estimate costs, 4) analyze competitor price mix, 5) select pricing method, and 6) select final price. Examples are provided for each step and pricing concepts are explained with diagrams and stories. The document aims to teach marketing concepts through illustrations and real-world examples from the author's blog.
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The document discusses several pricing methods that companies use to determine prices for goods and services. It describes cost plus pricing, where a company adds a markup percentage to their total costs to determine the price. It also outlines market skimming pricing, where a high initial price is set to earn profits from early adopters, and value pricing, where the price is based on the perceived value to customers. Finally, it summarizes penetration pricing, where a low initial price is used to gain market share, and target pricing, where the price is set to achieve a specific profit goal.
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This document discusses various pricing strategies and considerations, including:
1) It describes different types of pricing such as external pricing, internal transfer pricing, cost-plus pricing, and time and material pricing.
2) It explains concepts like determining the profit-maximizing price using marginal cost and marginal revenue, as well as price elasticity.
3) It outlines factors that influence pricing decisions and different approaches to setting prices like cost-plus markup, variable costing, and absorption costing.
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This document outlines 6 steps for companies to set initial prices for new products or services:
1. Select the pricing objective such as maximum profit, market share, or product leadership.
2. Determine demand for the product by estimating demand curves using surveys, price experiments, or statistical analysis of past sales.
3. Estimate costs including fixed, variable, total, and average costs of production and distribution.
4. Analyze competitors' costs, prices, and offers.
5. Select a pricing method like markup, target return, perceived value, value, or going rate pricing.
6. Consider other factors to select the final price like marketing activities, company policies, and impacts on customers and other parties
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How should a company set prices initially for products or services
Developing pricing strategy and programs_chapter_13 of book "A south Asian perspective: Marketing Management" by Philip kotler, Kevin Lane keller, Abraham koshy, and Mithileshwar jha.
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This document discusses various aspects of pricing decisions and strategies. It defines price and lists common types of prices like rent, wages, etc. It outlines objectives of pricing such as profit, sales, stability. It also covers determinants of pricing like costs and competition. The document then describes different methods of setting prices including cost-plus, competition-based, and value-based pricing. It concludes by outlining pricing strategies over a product lifecycle and how to respond to price changes.
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The document discusses several factors that influence pricing strategies, including strategic goals, demand, and competitor pricing. It describes considerations in pricing analysis such as costs, affordability, and discounts. Several pricing models are outlined, including cost plus pricing, market pricing, and competitive pricing. Market pricing involves establishing market value and trends to find a credible price position. Backward pricing deducts costs from what consumers are willing to pay to determine profit margin.
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The document outlines 6 steps for setting prices and 4 price adaptation strategies. The 6 steps are: selecting a pricing objective, determining demand, estimating costs, analyzing competitors, selecting a pricing method, and selecting the final price. The document then describes 4 price adaptation strategies companies can use: geographical pricing, price discounts and allowances, promotional pricing, and differentiated pricing. It provides examples for each strategy.
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This document discusses various pricing techniques businesses can use to set product prices, including cost-based pricing, demand-based pricing, competition-based pricing, and affordability-based pricing. It also identifies key internal factors like marketing objectives and costs, and external factors like elasticity of demand, government regulation, and customer expectations that affect pricing decisions.
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This document discusses various aspects of pricing decisions and strategies. It covers the importance of pricing, factors that affect pricing both internally and externally, pricing objectives, approaches such as cost-based, demand-based and competition-based pricing. It also discusses concepts like break-even analysis, price adjustments strategies including promotional pricing, geographical pricing and price discrimination. Overall, the document provides an overview of key considerations and methods involved in setting prices for products and services.
Costing & Pricing strategies
A very simple yet precise description of costing and pricing,with examples of both.help for both management and engineering students,specially for entrepreneurship development.like.comment and share.
How should a company adapt prices to meet varying circumstances & opportunities
"Developing Pricing Strategies & Programs- How should a company adapt prices to meet varying circumstances & opportunities"
3. How should a company adapt prices to meet varying circumstances and opport...
Based on Chapter 13 of Marketing Management: A South Asian Perspective by Koller, Ketler, Koshy and Jha.
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This document discusses various pricing strategies and considerations, including:
1) It describes different types of pricing such as external pricing, internal transfer pricing, cost-plus pricing, and time and material pricing.
2) It explains concepts like determining the profit-maximizing price using marginal cost and marginal revenue, as well as price elasticity.
3) It outlines factors that influence pricing decisions and different approaches to setting prices like cost-plus markup, variable costing, and absorption costing.
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This document outlines the six steps involved in setting a price for products and services: 1) selecting the pricing objective, 2) determining demand, 3) estimating costs, 4) analyzing competitors' costs, prices and offers, 5) selecting a pricing method, and 6) selecting the final price. It discusses factors like demand sensitivity, cost structure, competitors' prices, and customer perceptions that inform each step of the process. The overall goal is to establish a price that maximizes profits or other objectives, based on an analysis of market factors.
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1. Select the pricing objective such as maximum profit, market share, or product leadership.
2. Determine demand for the product by estimating demand curves using surveys, price experiments, or statistical analysis of past sales.
3. Estimate costs including fixed, variable, total, and average costs of production and distribution.
4. Analyze competitors' costs, prices, and offers.
5. Select a pricing method like markup, target return, perceived value, value, or going rate pricing.
6. Consider other factors to select the final price like marketing activities, company policies, and impacts on customers and other parties
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How should a company set prices initially for products or services
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This document discusses various methods of pricing, including cost-oriented and market-oriented approaches. It describes mark-up pricing, absorption cost pricing, target-return pricing, perceived value pricing, going rate pricing, and auction-type pricing. For each method, it provides examples of industries that use that approach and explains how to calculate pricing using that method. The key methods discussed are mark-up pricing based on desired profit margins, absorption cost pricing which includes all costs, and target-return pricing where the profit margin is set based on desired return on investment.
Cost based pricing ppt gp
This document discusses different approaches to cost-based pricing. It defines cost-based pricing as using the cost of production as the basis for setting a product's price. The document outlines several types of cost-based pricing like cost-plus pricing, full cost pricing, and target profit pricing. It also discusses the advantages and disadvantages of using a cost-based approach to pricing.
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The document discusses factors to consider when setting prices, including customer perceptions of value, costs, competitors' strategies, and external market conditions. It describes different types of pricing like cost-based pricing, value-based pricing, and target profit pricing. Key considerations for setting prices include understanding customer value, costs, demand elasticity, and competitors. External factors that influence pricing include economic conditions and government policies.
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This document discusses various pricing concepts and methods in marketing management. It defines key terms like price and pricing. It outlines common pricing objectives like maximizing profit and increasing market share. Some pricing policies are also mentioned like flexible pricing and bundle pricing. The document then describes the steps to set a price and various pricing methods such as mark-up pricing, perceived value pricing, going rate pricing, target return pricing, and break-even pricing. It concludes by listing several pricing strategies used in business.
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This document discusses cost based pricing. Cost based pricing sets the price of a product based on the costs to produce it, including direct costs, indirect costs, and an additional amount for profit. The key advantages are that it is simple and flexible to adjust prices as costs change. However, it ignores factors like demand, competition, and brand positioning. There are different types of cost based pricing like cost plus pricing, full cost pricing, and target profit pricing.
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This document outlines four main methods of pricing: value-based pricing, cost-based pricing, market/competitor-based pricing, and customer demand-based pricing. It provides examples and definitions for each method. Value-based pricing sets prices according to perceived customer value rather than costs. Cost-based pricing covers production costs and adds profit. Market-based pricing matches competitors' rates. Customer demand methods include high introductory "traffic will bear" prices, later lowered skimming prices, and low penetration prices to reach many customers.
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This document discusses price management and pricing strategies. It defines price as the cost plus profit that a consumer is willing to pay. Pricing decisions are influenced by internal factors controlled by the company and external uncontrolled factors like demand, competition and legal regulations. The objectives of pricing include maximizing profits, market penetration, and flexibility. Pricing methods include cost-based methods, demand-based methods, and competition-based methods. For new products, companies may use skimming pricing, penetration pricing, or price discrimination. Pricing services also considers factors like the market structure, competitors' prices, and regulations.
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This document discusses various aspects of pricing decisions and strategies. It defines price and lists common types of prices like rent, wages, etc. It outlines objectives of pricing such as profit, sales, stability. It also covers determinants of pricing like costs and competition. The document then describes different methods of setting prices including cost-plus, competition-based, and value-based pricing. It concludes by outlining pricing strategies over a product lifecycle and how to respond to price changes.
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The document discusses several factors that influence pricing strategies, including strategic goals, demand, and competitor pricing. It describes considerations in pricing analysis such as costs, affordability, and discounts. Several pricing models are outlined, including cost plus pricing, market pricing, and competitive pricing. Market pricing involves establishing market value and trends to find a credible price position. Backward pricing deducts costs from what consumers are willing to pay to determine profit margin.
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The document outlines 6 steps for setting prices and 4 price adaptation strategies. The 6 steps are: selecting a pricing objective, determining demand, estimating costs, analyzing competitors, selecting a pricing method, and selecting the final price. The document then describes 4 price adaptation strategies companies can use: geographical pricing, price discounts and allowances, promotional pricing, and differentiated pricing. It provides examples for each strategy.
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This document discusses new product pricing strategies. It defines a new product and pricing strategy. There are two main methods for pricing new products: market skimming and penetration pricing. Market skimming involves setting a high initial price to recoup costs and attract attention, while penetration pricing uses lower prices to target a wider customer base and increase sales. Both methods have advantages like revenue generation and brand awareness, as well as disadvantages like lower customer reach. The document provides examples and outlines the characteristics of each pricing approach.
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This document discusses various pricing techniques businesses can use to set product prices, including cost-based pricing, demand-based pricing, competition-based pricing, and affordability-based pricing. It also identifies key internal factors like marketing objectives and costs, and external factors like elasticity of demand, government regulation, and customer expectations that affect pricing decisions.
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This document discusses various aspects of pricing decisions and strategies. It covers the importance of pricing, factors that affect pricing both internally and externally, pricing objectives, approaches such as cost-based, demand-based and competition-based pricing. It also discusses concepts like break-even analysis, price adjustments strategies including promotional pricing, geographical pricing and price discrimination. Overall, the document provides an overview of key considerations and methods involved in setting prices for products and services.
Costing & Pricing strategies
A very simple yet precise description of costing and pricing,with examples of both.help for both management and engineering students,specially for entrepreneurship development.like.comment and share.
What's hot (20)
How should a company set prices initially for products or services
How should a company set prices initially for products or services
How should a company set prices initially for product or services?
How should a company set prices initially for product or services?
How should a company set prices initially for products or services
How should a company set prices initially for products or services
Viewers also liked
How should a company adapt prices to meet varying circumstances & opportunities
"Developing Pricing Strategies & Programs- How should a company adapt prices to meet varying circumstances & opportunities"
3. How should a company adapt prices to meet varying circumstances and opport...
Based on Chapter 13 of Marketing Management: A South Asian Perspective by Koller, Ketler, Koshy and Jha.
How should a company adapt prices to meet varying circumstances and opportuni...
The document discusses how companies can adapt prices to varying circumstances and opportunities. It identifies several factors that affect price changes, including geography, demand, costs, market segments, purchase timing, and order levels. The document then outlines different pricing strategies companies can use, such as geographical pricing, price discounts and allowances, promotional pricing, differentiated pricing based on customer segments, time, channels, and image. It concludes with a recap of the key topics covered.
How should a company adapt prices to meet varying circumstances and opportuni...
This document discusses developing pricing strategies and programs, noting that pricing is the only element of the marketing mix that produces revenue. It explores how the changing pricing environment with easy access to information impacts both buyers and sellers. The document outlines different price adaptation strategies a company can use, including geographical pricing with different prices in locations, price discounts and allowances, promotional pricing to stimulate purchases, and differentiated pricing where the price varies based on quantity, location, or consumer groups. It notes price discrimination can be legal if costs differ between buyers but predatory pricing below cost is illegal.
How should a company adapt prices to meet varying circumstances?
There are 5 price adaptation strategies a company can use:
1. Geographical pricing to set prices for customers in different locations, which may require alternative payment methods if buyers lack hard currency.
2. Price discounts and allowances to adjust list prices down for early payment, volume purchases, or off-season buying.
3. Promotional pricing techniques like loss leaders, rebates, or financing to stimulate early purchases.
4. Differential pricing to set different prices according to customer segments, products, locations, or time through various forms of price discrimination.
5. In summary, the strategies are geographical pricing, price discounts and allowances, promotional pricing, and differential pricing.
How should a company respond to a competitor's price change
This document discusses developing pricing strategies and programs in response to competitor price changes. It recommends that in homogeneous product markets, companies should enhance their augmented product or meet the price reduction. In non-homogeneous markets, companies should consider why the competitor changed price and if it is temporary or permanent, and how other firms and the company will be affected. The document also suggests differentiating products/services, introducing low-cost ventures, or reinventing as a low-cost player when facing low-cost competitors. Companies are advised to react decisively to competitor price changes within hours or days.
How should a company adapt prices to meet varying circumstances and opportuni...
This document discusses various pricing strategies and programs that a company can use. It describes geographical pricing where a company prices its products differently in various locations. It also discusses various types of discounts and allowances like cash discounts, quantity discounts, and trade discounts. The document outlines promotional pricing strategies such as special event pricing, cash rebates, and low interest financing. It also explains psychological discounting by setting an artificially high price and then offering a discount, and differentiated pricing based on customers, products, locations, seasons, and customer segments.
Chapter 14 - Developing Pricing Strategies and Programs
This document outlines 10 concepts related to pricing strategies and programs from a marketing management textbook. It discusses understanding pricing in a changing environment where internet allows for price discrimination. It also covers adapting prices through geographic pricing, discounts, promotions and differential pricing. Specific strategies for initiating or responding to price changes like cuts or increases are presented. Examples are provided to illustrate key points.
4. When should a company initiate a price change? (Chapter 13) (Anurag Kar)
Based on Chapter 13 of Marketing Management: A South Asian Perspective by Koller, Ketler, Koshy and Jha.
Kotler Chapter 14 Developing Pricing Strategies and Programs
The document outlines a 6 step process for setting prices: 1) select pricing objective, 2) determine demand, 3) estimate costs, 4) analyze competitors, 5) select pricing method, and 6) select final price. It also describes 4 price adaptation strategies: 1) geographical pricing, 2) price discounts and allowances, 3) promotional pricing, and 4) differentiated pricing.
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How should a company adapt prices to meet varying circumstances & opportunities
How should a company adapt prices to meet varying circumstances & opportunities
3. How should a company adapt prices to meet varying circumstances and opport...
3. How should a company adapt prices to meet varying circumstances and opport...
How should a company adapt prices to meet varying circumstances and opportuni...
How should a company adapt prices to meet varying circumstances and opportuni...
How should a company adapt prices to meet varying circumstances and opportuni...
How should a company adapt prices to meet varying circumstances and opportuni...
How should a company adapt prices to meet varying circumstances?
How should a company adapt prices to meet varying circumstances?
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How should a company respond to a competitor's price change
How should a company adapt prices to meet varying circumstances and opportuni...
How should a company adapt prices to meet varying circumstances and opportuni...
Chapter 14 - Developing Pricing Strategies and Programs
Chapter 14 - Developing Pricing Strategies and Programs
4. When should a company initiate a price change? (Chapter 13) (Anurag Kar)
4. When should a company initiate a price change? (Chapter 13) (Anurag Kar)
Kotler Chapter 14 Developing Pricing Strategies and Programs
Kotler Chapter 14 Developing Pricing Strategies and Programs
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This document provides information on factoring and forfaiting. It discusses the key functions of a factor, including financing, sales ledger administration, credit risk assessment, and consultancy. Factoring can help companies access cash flows more quickly by having a third party (the factor) manage receivables and collections. The document outlines the mechanics of a factoring transaction and compares factoring to alternatives like bill discounting. It also discusses export factoring and how it works.
Standard costing
Standard costing involves setting standard costs for materials, labor, and overhead and comparing actual costs to standards. Variances between standard and actual costs are analyzed to evaluate performance and control costs. Standards can be set using historical cost analysis, engineering studies, or a combination. Cost variances are categorized as controllable or uncontrollable to help management identify areas for improvement.
Pricing
The document discusses various pricing strategies and concepts including:
- Markup pricing which involves adding a percentage markup to costs to determine price.
- Target return pricing which sets price to cover a product's unit cost plus a portion of fixed costs and desired return on investment.
- Break-even analysis which calculates the sales volume needed to cover total fixed costs at a given price-cost margin.
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Integrated Marketing - Opportunities and Challenges in Modern Marketing
Integrated Marketing - Opportunities and Challenges in Modern Marketing
Slides harvard i lab funding strategies to go hte distance proceso up
Slides harvard i lab funding strategies to go hte distance proceso up
More from Sameer Mathur
Final assignment
created by ROHAN GUPTA in an Internship under
Proff Sameer Mathur, Marketing Proffessor, IIM Lucknow
Creative that cracks the code
The document discusses the benefits of exercise for mental health. Regular physical activity can help reduce anxiety and depression and improve mood and cognitive function. Exercise causes chemical changes in the brain that may help protect against mental illness and improve symptoms.
Preserve the Luxury or Extend the Brand
Château de Vallois produces luxury wines and is deciding whether to preserve its luxury brand or expand into more affordable wines. It currently produces a premium Grand Vin for €1000 per bottle and a second label Pouillé for €100. Younger consumers are being priced out of luxury French wines. One option is to introduce an affordable €20-25 branded wine while keeping it separate to maintain exclusivity. However, this could damage relationships with merchants and tradition. The stakeholders disagree on the approach with the son preferring tradition and granddaughter favoring expansion. Both maintaining profits and market share must be considered in the decision.
Creative that cracks the code
The document discusses six advertising campaigns that effectively cracked the code of marketing.
1. Pistachios used celebrities in its campaign and national TV spots, yielding a 233% increase in sales in its first year.
2. Coca-Cola China allowed viewers to interact with ads by "choking" bottle caps on screen.
3. Oreo crowdsourced daily cookie designs on Facebook, increasing shares by 4,400%.
4. Kia used subtle humor in ads to sell cars more effectively than excessive entertainment.
5. Marks & Spencer launched a campaign with Oxfam to encourage socially responsible shopping.
6. Target and Neiman Marcus hired the cast of TV show
Gino SA - Distribution Channel Management
Gino SA is a burner manufacturer considering expanding into the Chinese market. It currently distributes products through distributors who are resistant to some changes. A key customer, Feima Boiler, approached Gino directly for a better price as an OEM rather than through the distributor Jinghua. The best solution is to lower prices to Jinghua so it can offer discounts to Feima, avoiding upsetting the distribution channel. Breaking the channel could lose dealers, so an exception for industrial products may be negotiated while focusing on long-term benefits and relationships over immediate profits.
Gina SA Distribution Channel Management
Gino SA is a large burner manufacturer looking to expand its business in China, where it currently sells through distributors, but one distributor's largest customer, Feima Boiler, wants to deal directly with Gino as an OEM. However, granting Feima OEM status could undermine Gino's distributor relationship, so the best solution is to keep Feima loyal to the distributor while lowering transfer prices to the distributor to allow for discounts to Feima.
Goodyear : The aquatred launch
- Goodyear is a major tire manufacturer with a global presence and over 100,000 employees.
- The passenger tire market consists of replacement tires (65% of revenue) and original equipment manufacturer tires (35% of revenue).
- Goodyear wanted to launch the new Aquatred tire to target value-oriented and quality-focused customers and revitalize its brand.
- It planned a major launch campaign during the 1992 Winter Olympics with a $21 million budget.
A brand is forever a framework for revitalizing declining and dead brands
Brand decline and death can be reversed through strategic revitalization efforts. There are three key steps: 1) Assess whether the brand can regain former levels of awareness and differentiate itself again. 2) Reposition the brand through investment and educating consumers on its new uniqueness. 3) Address past mismanagement by rebuilding quality, resisting overuse of the brand, and clearly defining the target market. Overall success requires a long-term perspective and commitment to the revitalization process.
Gino sa distribution channel management case study
Created by ROHAN GUPTA, IIT (BHU) Varanasi, during an internship by Prof. SAMEER MATHUR, IIM Lucknow www.iiminternship.com
A brand is forever ! a framework for revitalizing declining & dead brands
The document discusses the decline and potential revitalization of brands. It outlines several causes of brand decline related to poor managerial actions, changes in the market environment, and competitive actions. Managerial missteps that can lead to decline include compromising on quality, unnecessary price increases, price cuts that damage brand image, neglecting strong brands, and failing to stay aligned with the target market. The document provides examples of brands that declined and presents guidelines for brand revitalization, including carefully repositioning the brand, correcting past mismanagement, and pursuing a defined target market. The key message is that revitalizing existing brands is often preferable to developing new brands.
What are the major trends with marketing intermediaries?
Major trends in marketing intermediaries include book stores combining with coffee shops and petrol pumps adding food stores. Large retailers like Walmart, Gap, and Delhaize are also integrating multiple product types. Another trend is the growth of shopper marketing which aims to influence customers during the actual purchase through in-store promotions, displays, and other tactics.
What marketing decisions do these marketing intermediaries make ?
This document discusses various marketing decisions made by intermediaries, including product assortment, advertising, and distribution channels. It provides examples of different types of product assortment strategies like narrow/shallow, narrow/deep, broad/shallow, and broad/deep. The document also discusses inventory management techniques like RFID tracking and direct product profitability analysis. Additionally, it covers factors considered for order processing, warehousing location, and shipping methods.
What major types of marketing intermediaries occupy this sector?
This document discusses retailing and wholesaling. It defines retailing as selling goods or services directly to final consumers for personal use, and wholesaling as selling to those who buy for resale or business use. It outlines different types of retailers like specialty stores, department stores, drug stores, and off-price retailers. It also discusses corporate retailing models like franchising. Wholesaling types mentioned include merchant, full-service, limited service, brokers, agents, and manufacturers' branches. Logistics functions for wholesaling like order processing, warehousing, inventory, and transportation are also summarized.
What marketing strategies are appropriate at each stage of the product life c...
The document discusses the product life cycle and appropriate marketing strategies at each stage. It identifies four stages: introduction, growth, maturity, and decline. In the introduction stage, sales are slow and profits non-existent. Marketing strategies focus on building awareness, using cost-plus pricing, and conducting trials. In the growth stage, rapid market acceptance and substantial profits occur, and strategies shift to penetrating pricing, product extensions, and intensive distribution. During maturity, sales growth slows as competition increases and profits stabilize or decline, so strategies diversify brands and items, match competitors' prices, and encourage brand switching through emphasizing differences. Finally, in decline, sales drift downward and profits erode, so strategies phase out weak products and un
How should marketers adjust their strategies and tactics for an economic down...
The document provides 5 ways for marketers to adjust their strategies during an economic downturn or recession. These include: 1) increasing marketing expenditure to boost revenue and profits, 2) getting closer to customers to better understand their needs, 3) reviewing budget allocations to cut underperforming distributors and incentivize top sellers, 4) putting forth compelling value propositions rather than price reductions which are a mistake, and 5) fine-tuning brand and product offerings such as having luxury brands and lower-priced brands.
How can market leaders expand the total market and defend market share?
This document discusses strategies for market leaders to expand total market demand and defend market share. It outlines three ways to attract new customers: market penetration, new market segments, and geographical expansion. It also discusses two ways to increase usage: communicating advantages to increase frequency or amount of consumption, and identifying new applications. Finally, it discusses two approaches to protecting market share: proactive marketing through innovative capabilities and future vision, and defensive marketing such as reducing attack probability and diverting threats.
Change in marketing management
Major societal forces driving change in marketing management include the rise of network information technology, globalization, deregulation, heightened competition, industry convergence, and shifts in consumer buying power, access to information, participation, and resistance. Companies must develop capabilities to engage consumers via mobile marketing and new digital channels in order to adapt to these changes in the industry environment and consumer behaviors.
Core marketing concepts
This document discusses key marketing concepts like needs, wants, desires, segmentation, targeting, positioning, offerings, brands, value and satisfaction. It covers different marketing channels including communication, distribution, and service channels. It also discusses competition and the marketing environment. The document is a presentation on marketing for transport, banking, and insurance services that was created by Anubhab Mondal during an internship under Prof. Sameer Mathur at IIM Lucknow. It provides credits and sources for images at the end.
Importance of marketing
Marketing is important for firms to prosper and survive by introducing more demand for goods and bringing about new products and services. This leads to the production of new goods and services which creates more jobs. Effective marketing also helps firms create a strong brand and loyal customer base while promoting socially responsible activities.
Scope of marketing
The scope of marketing includes goods, services, events, experiences, people, places, property, organizations, information, and ideas. Experiential marketing examples include amusement parks and water parks, while musicians and artists are examples of people promoted through marketing. The document was created by Anubhab Mondal during an internship under Prof. Sameer Mathur at IIM Lucknow to discuss the wide scope of subjects that marketing can encompass.
More from Sameer Mathur (20)
A brand is forever a framework for revitalizing declining and dead brands
A brand is forever a framework for revitalizing declining and dead brands
Gino sa distribution channel management case study
Gino sa distribution channel management case study
A brand is forever ! a framework for revitalizing declining & dead brands
A brand is forever ! a framework for revitalizing declining & dead brands
What are the major trends with marketing intermediaries?
What are the major trends with marketing intermediaries?
What marketing decisions do these marketing intermediaries make ?
What marketing decisions do these marketing intermediaries make ?
What major types of marketing intermediaries occupy this sector?
What major types of marketing intermediaries occupy this sector?
What marketing strategies are appropriate at each stage of the product life c...
What marketing strategies are appropriate at each stage of the product life c...
How should marketers adjust their strategies and tactics for an economic down...
How should marketers adjust their strategies and tactics for an economic down...
How can market leaders expand the total market and defend market share?
How can market leaders expand the total market and defend market share?
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How should a company adapt prices to meet varying circumstances and opportunities
- 2. PRICE ADAPTION STRATEGIES •GEOGRAPHICAL PRICING. •PRICE DISCOUNTS AND ALLOWANCES. •PROMOTIONAL PRICING. •DIFFERENTIATED PRICING.
- 4. CASH , COUNTERTRADE , BARTER COUNTERTRADE FEATURES:- 1.BARTER GEOGRAPHICAL PRICING
- 8. PRICE DISCOUNT AND ALLOWANCES •EARLY PAYMENT •VOLUME PURCHASES •OFF SEASON BUYING DISCOUNT PRICING IS THE MODUS OPERANDI OF COMPANIES PRODUCTS AND SERVICES
- 9. FEATURES:- 1.DISCOUNT – 2/10 , NET 30 •ABOVE EXAMPLE IMPLIES PAYMENT DUE WITHIN 30 DAYS •DEDUCT 2% BY PAYING WITHIN 10 DAYS PRICE DISCOUNT AND ALLOWANCES
- 10. QUANTITY DISCOUNT- EXAMPLE-”$10 PER UNIT FOR FEWER THAN 100 UNITS , $9 PER UNIT FOR 100 OR MORE UNITS” PRICE DISCOUNT AND ALLOWANCES
- 11. FUNCTIONAL DISCOUNT ( TRADE DISCOUNT )- •SELLING •STORING •RECORD KEEPING PRICE DISCOUNT AND ALLOWANCES
- 12. SEASONAL DISCOUNT - ALLOWANCE – ( OFF SEASON DISCOUNT ) ( TRADE IN ALLOWANCE ) PRICE DISCOUNT AND ALLOWANCES
- 13. PROMOTIONAL PRICING LOSS LEADER PRICING SPECIAL EVENT PRICING SPECIAL CUSTOMER PRICING
- 14. • CASH REBATES • LOW INTEREST FINANCING • LONGER PAYMENT TERMS PROMOTIONAL PRICING
- 15. • WARRANTIES AND SERVICE CONTRACTS • PSYCHOLOGICAL DISCOUNTING PROMOTIONAL PRICING
- 16. DIFFERENTIATED PRICING PRICE DISCRIMINATION – 1.FIRST-DEGREE ( DEMAND ) 2.SECOND - DEGREE ( VOLUME ) 3.TIERED PRICING - PAYING MORE WITH HIGHER USAGE
- 17. 4.THIRD DEGREE – •CUSTOMER SEGMENT PRICING •PRODUCT FORM PRICING •IMAGE PRICING PROMOTIONAL PRICING
- 18. 4.THIRD DEGREE – •CHANNEL PRICING •LOCATION PRICING •TIME PRICING PROMOTIONAL PRICING
- 19. YIELD MANAGEMENT : YIELD PRICING PROMOTIONAL PRICING
- 20. SUMMARY COMPANIES ADOPT A PRICING STRUCTURE THAT REFLECTS- • GEOGRAPHICAL DEMAND AND COSTS • MARKET SEGMENT REQUIREMENTS • PURCHASING TIME • ORDER LEVELS PRICE ADAPTATION STRATEGIES- • GEOGRAPHICAL PRICING • PRICE DISCOUNTS AND ALLOWANCES • DISCRIMINATORY PRICING
- 22. AKASH RANJAN PRADHAN NIT ROURKELA DURING A MARKETING INTERNSHIP BY PROF.SAMEER MATHUR IIM LUCKNOW WWW.IIMINTERNSHIP.COM CREATED BY