This Brainmates presentation seeks to answer the question "What is product management?"
This presentation investigates this important strategic role and illustrates its responsibilities and functional applications.
A useful reference for people working in product management or who are interested in a career in this field.
** About Brainmates:
Brainmates is an Australian based business that has is championing the important role that Product Managers perform in delivering a product's that are loved by their customers and deliver a return on investment to the businesses that provide them.
Brainmates trains coaches and supported Product Management Professionals in all kinds of industries and business sizes. Contact the team on +61 1800 272 466 to see if we can help your products and business.
** Connect with Brainmates online:
Visit the Brainmates WEBSITE: http://bit.ly/1lQ51mE
Like Brainmates on FACEBOOK: http://bit.ly/2c0RVaO
Follow Brainmates on TWITTER: http://bit.ly/2bNhKft
Brainmates - Product Management Training and Expertise
Formulating Marketing Strategy in Advanced MarketingNikhil Gupta
The presentation gives a brief idea about the steps involved in Formulating Marketing Strategy. The presentation is an extract of how to formulate marketing strategy.
Integrated marketing communication is a strategic business process used to plan, develop, execute and evaluate coordinated, measurable, persuasive brand communications programs over time with consumers, customers, prospects, employees, associates and other targeted relevant external and internal audiences.
The Goal is to generate both short-term financial returns and build long-term brand and shareholder value.
NB:
It's not mine, but it could help anyone else
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.
This is a marketing powerpoint on marketing strategies. the information is from http://www.knowthis.com/principles-of-marketing-tutorials/marketing-planning-and-strategy/
This Brainmates presentation seeks to answer the question "What is product management?"
This presentation investigates this important strategic role and illustrates its responsibilities and functional applications.
A useful reference for people working in product management or who are interested in a career in this field.
** About Brainmates:
Brainmates is an Australian based business that has is championing the important role that Product Managers perform in delivering a product's that are loved by their customers and deliver a return on investment to the businesses that provide them.
Brainmates trains coaches and supported Product Management Professionals in all kinds of industries and business sizes. Contact the team on +61 1800 272 466 to see if we can help your products and business.
** Connect with Brainmates online:
Visit the Brainmates WEBSITE: http://bit.ly/1lQ51mE
Like Brainmates on FACEBOOK: http://bit.ly/2c0RVaO
Follow Brainmates on TWITTER: http://bit.ly/2bNhKft
Brainmates - Product Management Training and Expertise
Formulating Marketing Strategy in Advanced MarketingNikhil Gupta
The presentation gives a brief idea about the steps involved in Formulating Marketing Strategy. The presentation is an extract of how to formulate marketing strategy.
Integrated marketing communication is a strategic business process used to plan, develop, execute and evaluate coordinated, measurable, persuasive brand communications programs over time with consumers, customers, prospects, employees, associates and other targeted relevant external and internal audiences.
The Goal is to generate both short-term financial returns and build long-term brand and shareholder value.
NB:
It's not mine, but it could help anyone else
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.
This is a marketing powerpoint on marketing strategies. the information is from http://www.knowthis.com/principles-of-marketing-tutorials/marketing-planning-and-strategy/
A visual guide to inbound marketing with tips on how to grow your business.
This is a bonus addition to the newly released 2nd edition of "Inbound Marketing" the book by Brian Halligan and Dharmesh Shah
Every company desiring to stay competitive must design broad competitive marketing strategies by which it can gain a sustainable competitive advantage. But what broad marketing strategies might the company use? Which ones are best for a particular company or for the company’s different divisions and products? No one strategy is best for all companies. Each company must determine what makes the most sense given its position in the industry and its objectives, opportunities, and resources. Even within a company, different strategies may be required for different businesses or products. Johnson & Johnson uses one marketing strategy for its leading brands in stable consumer markets, such as BAND-AID, Tylenol, Listerine, or J&J’s baby products, and a different marketing strategy for its high-tech health-care businesses and products, such as Monocryl surgical sutures or NeuFlex finger joint implants. So you understand that no one best strategy truly exist for all firms. But which strategy is best for which company? This chapter attempts an appropriate respond to the question.
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mkt 571 new,uop mkt 571 new,uop mkt 571 new complete course,uop mkt 571 new entire course,mkt 571 final exam guide new 2018 new,uop mkt 571 new week 1,uop mkt 571 new week 2,uop mkt 571 new week 3,uop mkt 571 new week 4,uop mkt 571 new week 5,uop mkt 571 new week 6,uop mkt 571 new tutorials,mkt 571 new assignments,mkt 571 new help
For more course tutorials visit
www.tutorialrank.com
1. A fundamental and distinctive mode of expression that appears in a field of human endeavor is called a __________.
• style
• theme
• trend
• pattern
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Videos are more engaging, more memorable, and more popular than any other type of content out there. That’s why it’s estimated that 82% of consumer traffic will come from videos by 2025.
And with videos evolving from landscape to portrait and experts promoting shorter clips, one thing remains constant – our brains LOVE videos.
So is there science behind what makes people absolutely irresistible on camera?
The answer: definitely yes.
In this jam-packed session with Stephanie Garcia, you’ll get your hands on a steal-worthy guide that uncovers the art and science to being irresistible on camera. From body language to words that convert, she’ll show you how to captivate on command so that viewers are excited and ready to take action.
Unleash the power of UK SEO with Brand Highlighters! Our guide delves into the unique search landscape of Britain, equipping you with targeted strategies to dominate UK search engine results. Discover local SEO tactics, keyword magic for UK audiences, and mobile optimization secrets. Get your website seen by the right people and propel your brand to the top of UK searches.
To learn more: https://brandhighlighters.co.uk/blog/top-seo-agencies-uk/
In this presentation, Danny Leibrandt explains the impact of AI on SEO and what Google has been doing about it. Learn how to take your SEO game to the next level and win over Google with his new strategy anyone can use. Get actionable steps to rank your name, your business, and your clients on Google - the right way.
Key Takeaways:
1. Real content is king
2. Find ways to show EEAT
3. Repurpose across all platforms
The digital marketing industry is changing faster than ever and those who don’t adapt with the times are losing market share. Where should marketers be focusing their efforts? What strategies are the experts seeing get the best results? Get up-to-speed with the latest industry insights, trends and predictions for the future in this panel discussion with some leading digital marketing experts.
10 Video Ideas Any Business Can Make RIGHT NOW!
You'll never draw a blank again on what kind of video to make for your business. Go beyond the basic categories and truly reimagine a brand new advanced way to brainstorm video content creation. During this masterclass you'll be challenged to think creatively and outside of the box and view your videos through lenses you may have never thought of previously. It's guaranteed that you'll leave with more than 10 video ideas, but I like to under-promise and over-deliver. Don't miss this session.
Key Takeaways:
How to use the Video Matrix
How to use additional "Lenses"
Where to source original video ideas
5 big bets to drive growth in 2024 without one additional marketing dollar AND how to adapt to the biggest shifting eCommerce trend- AI.
1) Romance Your Customers - Retention
2) ‘Alternative’ Lead Gen - Advocacy
3) The Beautiful Basics - Conversion Rate Optimization
4) Land that Bottom Line - Profitability
5) Roll the Dice - New Business Models
Core Web Vitals SEO Workshop - improve your performance [pdf]Peter Mead
Core Web Vitals to improve your website performance for better SEO results with CWV.
CWV Topics include:
- Understanding the latest Core Web Vitals including the significance of LCP, INP and CLS + their impact on SEO
- Optimisation techniques from our experts on how to improve your CWV on platforms like WordPress and WP Engine
- The impact of user experience and SEO
Come learn how YOU can Animate and Illuminate the World with Generative AI's Explosive Power. Come sit in the driver's seat and learn to harness this great technology.
The What, Why & How of 3D and AR in Digital CommercePushON Ltd
Vladimir Mulhem has over 20 years of experience in commercialising cutting edge creative technology across construction, marketing and retail.
Previously the founder and Tech and Innovation Director of Creative Content Works working with the likes of Next, John Lewis and JD Sport, he now helps retailers, brands and agencies solve challenges of applying the emerging technologies 3D, AR, VR and Gen AI to real-world problems.
In this webinar, Vladimir will be covering the following topics:
Applications of 3D and AR in Digital Commerce,
Benefits of 3D and AR,
Tools to create, manage and publish 3D and AR in Digital Commerce.
Digital Commerce Lecture for Advanced Digital & Social Media Strategy at UCLA...Valters Lauzums
E-commerce in 2024 is characterized by a dynamic blend of opportunities and significant challenges. Supply chain disruptions and inventory shortages are critical issues, leading to increased shipping delays and rising costs, which impact timely delivery and squeeze profit margins. Efficient logistics management is essential, yet it is often hampered by these external factors. Payment processing, while needing to ensure security and user convenience, grapples with preventing fraud and integrating diverse payment methods, adding another layer of complexity. Furthermore, fulfillment operations require a streamlined approach to handle volume spikes and maintain accuracy in order picking, packing, and shipping, all while meeting customers' heightened expectations for faster delivery times.
Amid these operational challenges, customer data has emerged as an important strategy. By focusing on personalization and enhancing customer experience from historical behavior, businesses can deliver improved website and brand experienced, better product recommendations, optimal promotions, and content to meet individual preferences. Better data analytics can also help in effectively creating marketing campaigns, improving customer retention, and driving product development and inventory management.
Innovative formats such as social commerce and live shopping are beginning to impact the digital commerce landscape, offering new ways to engage with customers and drive sales, and may provide opportunity for brands that have been priced out or seen a downturn with post-pandemic shopping behavior. Social commerce integrates shopping experiences directly into social media platforms, tapping into the massive user bases of these networks to increase reach and engagement. Live shopping, on the other hand, combines entertainment and real-time interaction, providing a dynamic platform for showcasing products and encouraging immediate purchases. These innovations not only enhance customer engagement but also provide valuable data for businesses to refine their strategies and deliver superior shopping experiences.
The e-commerce sector is evolving rapidly, and businesses that effectively manage operational challenges and implement innovative strategies are best positioned for long-term success.
Most small businesses struggle to see marketing results. In this session, we will eliminate any confusion about what to do next, solving your marketing problems so your business can thrive. You’ll learn how to create a foundational marketing OS (operating system) based on neuroscience and backed by real-world results. You’ll be taught how to develop deep customer connections, and how to have your CRM dynamically segment and sell at any stage in the customer’s journey. By the end of the session, you’ll remove confusion and chaos and replace it with clarity and confidence for long-term marketing success.
Key Takeaways:
• Uncover the power of a foundational marketing system that dynamically communicates with prospects and customers on autopilot.
• Harness neuroscience and Tribal Alignment to transform your communication strategies, turning potential clients into fans and those fans into loyal customers.
• Discover the art of automated segmentation, pinpointing your most lucrative customers and identifying the optimal moments for successful conversions.
• Streamline your business with a content production plan that eliminates guesswork, wasted time, and money.
Mastering Multi-Touchpoint Content Strategy: Navigate Fragmented User JourneysSearch Engine Journal
Digital platforms are constantly multiplying, and with that, user engagement is becoming more intricate and fragmented.
So how do you effectively navigate distributing and tailoring your content across these various touchpoints?
Watch this webinar as we dive into the evolving landscape of content strategy tailored for today's fragmented user journeys. Understanding how to deliver your content to your users is more crucial than ever, and we’ll provide actionable tips for navigating these intricate challenges.
You’ll learn:
- How today’s users engage with content across various channels and devices.
- The latest methodologies for identifying and addressing content gaps to keep your content strategy proactive and relevant.
- What digital shelf space is and how your content strategy needs to pivot.
With Wayne Cichanski, we’ll explore innovative strategies to map out and meet the diverse needs of your audience, ensuring every piece of content resonates and connects, regardless of where or how it is consumed.
Mastering Local SEO for Service Businesses in the AI Era is tailored specifically for local service providers like plumbers, dentists, and others seeking to dominate their local search landscape. This session delves into leveraging AI advancements to enhance your online visibility and search rankings through the Content Factory model, designed for creating high-impact, SEO-driven content. Discover the Dollar-a-Day advertising strategy, a cost-effective approach to boost your local SEO efforts and attract more customers with minimal investment. Gain practical insights on optimizing your online presence to meet the specific needs of local service seekers, ensuring your business not only appears but stands out in local searches. This concise, action-oriented workshop is your roadmap to navigating the complexities of digital marketing in the AI age, driving more leads, conversions, and ultimately, success for your local service business.
Key Takeaways:
Embrace AI for Local SEO: Learn to harness the power of AI technologies to optimize your website and content for local search. Understand the pivotal role AI plays in analyzing search trends and consumer behavior, enabling you to tailor your SEO strategies to meet the specific demands of your target local audience. Leverage the Content Factory Model: Discover the step-by-step process of creating SEO-optimized content at scale. This approach ensures a steady stream of high-quality content that engages local customers and boosts your search rankings. Get an action guide on implementing this model, complete with templates and scheduling strategies to maintain a consistent online presence. Maximize ROI with Dollar-a-Day Advertising: Dive into the cost-effective Dollar-a-Day advertising strategy that amplifies your visibility in local searches without breaking the bank. Learn how to strategically allocate your budget across platforms to target potential local customers effectively. The session includes an action guide on setting up, monitoring, and optimizing your ad campaigns to ensure maximum impact with minimal investment.
Most small businesses struggle to see marketing results. In this session, we will eliminate any confusion about what to do next, solving your marketing problems so your business can thrive. You’ll learn how to create a foundational marketing OS (operating system) based on neuroscience and backed by real-world results. You’ll be taught how to develop deep customer connections, and how to have your CRM dynamically segment and sell at any stage in the customer’s journey. By the end of the session, you’ll remove confusion and chaos and replace it with clarity and confidence for long-term marketing success.
Key Takeaways:
• Uncover the power of a foundational marketing system that dynamically communicates with prospects and customers on autopilot.
• Harness neuroscience and Tribal Alignment to transform your communication strategies, turning potential clients into fans and those fans into loyal customers.
• Discover the art of automated segmentation, pinpointing your most lucrative customers and identifying the optimal moments for successful conversions.
• Streamline your business with a content production plan that eliminates guesswork, wasted time, and money.
SMM Cheap - No. 1 SMM panel in the worldsmmpanel567
Boost your social media marketing with our SMM Panel services offering SMM Cheap services! Get cost-effective services for your business and increase followers, likes, and engagement across all social media platforms. Get affordable services perfect for businesses and influencers looking to increase their social proof. See how cheap SMM strategies can help improve your social media presence and be a pro at the social media game.
Mastering Local SEO for Service Businesses in the AI Era is tailored specifically for local service providers like plumbers, dentists, and others seeking to dominate their local search landscape. This session delves into leveraging AI advancements to enhance your online visibility and search rankings through the Content Factory model, designed for creating high-impact, SEO-driven content. Discover the Dollar-a-Day advertising strategy, a cost-effective approach to boost your local SEO efforts and attract more customers with minimal investment. Gain practical insights on optimizing your online presence to meet the specific needs of local service seekers, ensuring your business not only appears but stands out in local searches. This concise, action-oriented workshop is your roadmap to navigating the complexities of digital marketing in the AI age, driving more leads, conversions, and ultimately, success for your local service business.
Key Takeaways:
Embrace AI for Local SEO: Learn to harness the power of AI technologies to optimize your website and content for local search. Understand the pivotal role AI plays in analyzing search trends and consumer behavior, enabling you to tailor your SEO strategies to meet the specific demands of your target local audience. Leverage the Content Factory Model: Discover the step-by-step process of creating SEO-optimized content at scale. This approach ensures a steady stream of high-quality content that engages local customers and boosts your search rankings. Get an action guide on implementing this model, complete with templates and scheduling strategies to maintain a consistent online presence. Maximize ROI with Dollar-a-Day Advertising: Dive into the cost-effective Dollar-a-Day advertising strategy that amplifies your visibility in local searches without breaking the bank. Learn how to strategically allocate your budget across platforms to target potential local customers effectively. The session includes an action guide on setting up, monitoring, and optimizing your ad campaigns to ensure maximum impact with minimal investment.
Short video marketing has sweeped the nation and is the fastest way to build an online brand on social media in 2024. In this session you will learn:- What is short video marketing- Which platforms work best for your business- Content strategies that are on brand for your business- How to sell organically without paying for ads.
5. 5visit: www.studyMarketing.org
1. Single Market Strategy
• Concentration of efforts in a single
segment.
• Requirements: (a) Serve the market
wholeheartedly despite initial difficulties
(b) Avoid competition with established
firms.
6. 6visit: www.studyMarketing.org
2. Multi Market Strategy
• Serving several distinct markets.
• Requirements: (a) Careful selection of
segments to serve (b) Avoid
confrontation with companies serving
entire market.
7. 7visit: www.studyMarketing.org
3. Total Market Strategy
• Serving the entire spectrum of the market by selling
differentiated products to different segments in the
market.
• Requirements: (a) Employ different combinations of
price, product, promotion, and distribution strategies
in different segments (b) Top management
commitment to embrace entire market (c) Strong
financial position.
9. 9visit: www.studyMarketing.org
1. First In Strategy
• Entering the market before all others.
• Requirements: (a) Willingness and ability to
take risks (b) Technological competence (c)
Strive to stay ahead (d) Heavy promotion (e)
Create primary demand (f) Carefully evaluate
strengths.
10. 10visit: www.studyMarketing.org
2. Early Entry Strategy
• Entering the market in quick succession after
the leader.
• Requirements: (a) Superior marketing
strategy (b) Ample resources (c) Strong
commitment to challenge market leader.
11. 11visit: www.studyMarketing.org
3. Laggard Entry Strategy
• Entering the market toward tail end of growth phase
or during maturity phase. Two modes of entry are
feasible: (a) Imitator - Entering market with me-too
product (b) Initiator - Entering market with
unconventional marketing strategies.
• Requirements: Imitator - (a) Market research ability
(b) Production capability. Initiator - (a) Market
research ability, (b) Ability to generate creative
marketing strategies.
13. 13visit: www.studyMarketing.org
1. Product Positioning Strategy
• Placing a brand in that part of the market where it
will have a favorable reception compared with
competing brands.
• Requirements: (a) Successful management of a
single brand requires positioning the brand in the
market so that it can stand competition from the
toughest rival and maintaining its unique position by
creating the aura of a distinctive product.
14. 14visit: www.studyMarketing.org
1. Product Positioning Strategy
• (b) Successful management of multiple brands
requires careful positioning in the market so that
multiple brands do not compete with nor
cannibalize each other.
16. 16visit: www.studyMarketing.org
• Requirements: (a) If this strategy
is directed toward existing
customers, repositioning is
sought through promotion of
more varied uses of the product
2. Product
Repositioning
Strategy
17. 17visit: www.studyMarketing.org
• (b) If the business unit wants to
reach new users, this strategy
requires that the product be
presented with a different twist
to the people who have not been
favorably inclined toward it.
• In doing so, care should be
taken to see that, in the process
of enticing new customers,
current ones are not alienated
2. Product
Repositioning
Strategy
18. 18visit: www.studyMarketing.org
• (c) If this strategy aims at
presenting new uses of the
product, it requires searching
for latent uses of the product, if
any.
• Although all products may not
have latent uses, there are
products that may be used for
purposes not originally intended.
2. Product
Repositioning
Strategy
19. 19visit: www.studyMarketing.org
3. Product
Scope
Strategy
• The product-scope strategy deals
with the perspectives of the product
mix of a company.
• The company may adopt a single-
product strategy, a multiple-
product strategy, or a system-of-
products strategy.
20. 20visit: www.studyMarketing.org
• Requirements: (a) Single product:
company must stay up-to-date on
the product and even become the
technology leader to avoid
obsolescence (b) Multiple
products: products must
complement one another in a
portfolio of products
3. Product
Scope
Strategy
21. 21visit: www.studyMarketing.org
• (c) System of products: company
must have a close understanding of
customer needs and uses of the
products.
3. Product
Scope
Strategy
22. 22visit: www.studyMarketing.org
4. Product
Design
Strategy
• The product-design strategy deals
with the degree of standardization
of a product.
• The company has a choice among
the following strategic options:
standard product, customized
product, and standard product
with modifications.
23. 23visit: www.studyMarketing.org
• Objectives: (a) Standard product :
to increase economies of scale of
the company (b) Customized
product : to compete against mass
producers of standardized products
through product-design flexibility
(c) Standard product with
modifications : to combine the
benefits of the two previous
strategies.
4. Product
Design
Strategy
24. 24visit: www.studyMarketing.org
5. New
Product
Strategy
• A set of operations that
introduces (a) within the
business, a product new to its
previous line of products (b) on
the market, a product that
provides a new type of
satisfaction.
• Three alternatives emerge from
the above: product
improvement/modification,
product imitation, and product
innovation.
25. 25visit: www.studyMarketing.org
• Requirements: A new-product
strategy is difficult to implement
if a new product development
system does not exist within a
company.
5. New
Product
Strategy
26. 26visit: www.studyMarketing.org
• Five components of this
system should be assessed:
• corporate aspirations toward
new products
• organizational openness to
creativity
• environmental favor toward
creativity
• screening method for new
ideas, and
• evaluation process.
5. New
Product
Strategy
28. 28visit: www.studyMarketing.org
• Determination of a judicious mix of
different types of promotion.
• Requirements :
• (a) Product factors: (i) nature of
product (ii) durable versus
nondurable (iii) perceived risk (iv)
typical purchase amount
1. Promotion
Mix Strategy
29. 29visit: www.studyMarketing.org
1. Promotion
Mix Strategy
• (b) Market factors: (i) position in the
life cycle, (ii); market share, (iii)
industry concentration, (iv) intensity
of competition, and (v) demand
perspectives
• (c) Customers factors: (i)
household versus business
customers, (ii) number of customers,
and (iii) concentration of customers
30. 30visit: www.studyMarketing.org
1. Promotion
Mix Strategy
• (d) Budget factors: (i) financial
resources of the organization and (ii)
traditional promotional perspectives
• (e) Marketing mix factors: (i)
relative price/relative quality, (ii)
distribution strategy, (iii) brand life
cycle, and (iv) geographic scope of
the market
31. 31visit: www.studyMarketing.org
2. Media Selection
Strategy
• Choosing the channels
(newspapers, magazines, television,
radio, outdoor advertising, transit
advertising, and direct mail) through
which messages concerning a
product/service are transmitted to
the targets.
32. 32visit: www.studyMarketing.org
2. Media Selection
Strategy
• Requirements: (a) Relate media-
selection objectives to product/market
objectives (b) Media chosen should
have a unique way of promoting the
business (c) Media should be measure-
minded not only in frequency, in timing,
and in reaching the target audience but
also in evaluating the quality of the
audience
33. 33visit: www.studyMarketing.org
2. Media Selection
Strategy
• (d) Base media selection on factual
not artificial grounds, (e) Media plan
should be optimistic in that it takes
advantage of the lessons learned
from experience (f) Seek
information on customer profiles and
audience characteristics.
37. 37visit: www.studyMarketing.org
1. Distribution
Scope
Strategy
• Establishing the scope of
distribution, that is, the target
customers.
• Choices are exclusive
distribution (one retailer is
granted sole rights in serving
a given area), intensive
distribution (a product is
made available at all possible
retail outlets), and selective
distribution (many but not all
retail outlets in a given area
distribute a product).
38. 38visit: www.studyMarketing.org
1. Distribution
Scope
Strategy
• Requirements: Assessment
of :
• customer buying habits
• gross margin/ turnover
rate
• capability of dealer to
provide service
• capability of dealer to
carry full product line
• product styling
39. 39visit: www.studyMarketing.org
2. Multiple Channel
Strategy
• Employing two or more different channels
for distribution of goods and services.
• Multiple-channel distribution is of two
basic types: complementary (each
channel handles a different non-competing
product or market segment) and
competitive (two different and competing
channels sell the same product).
40. 40visit: www.studyMarketing.org
2. Multiple Channel
Strategy
• Requirements: (a) Market segmentation,
(b) Cost/benefit analysis.
• Use of complementary channels prompted
by (i) geographic considerations, (ii)
volume of business, (iii) need to distribute
non-competing items, and (iv) saturation
of traditional distribution channels.
• Use of competitive channels can be a
response to environmental changes.
43. 43visit: www.studyMarketing.org
Skimming Pricing
Strategy
• Setting a relatively high price during
the initial stage of a product's life.
• Objectives: (a) To serve customers
who are not price conscious while
the market is at the upper end of the
demand curve and competition has
not yet entered the market
44. 44visit: www.studyMarketing.org
• (b) To recover a significant portion of
promotional and research and
development costs through a high
margin.
Skimming Pricing
Strategy
45. 45visit: www.studyMarketing.org
• Requirements: (a) Heavy
promotional expenditure to introduce
product, educate consumers, and
induce early buying (b) Relatively
inelastic demand at the upper end of
the demand curve (c) Lack of direct
competition and substitutes.
Skimming Pricing
Strategy
46. 46visit: www.studyMarketing.org
Penetration Pricing
Strategy
• Setting a relatively low price during
the initial stages of a product's life.
• Objective: To discourage competition
from entering the market by quickly
taking a large market share and by
gaining a cost advantage through
realizing economies of scale.
50. 50visit: www.studyMarketing.org
Maintaining the Price
• Requirements: (a) Firm's served
market is not significantly affected by
changes in the environment (b)
Uncertainty exists concerning the
need for or result of a price change
(c) Firm's public image could be
enhanced by responding to
government requests or public
opinion to maintain price.
51. 51visit: www.studyMarketing.org
Reducing the Price
• Objectives: (a) To act defensively
and cut price to meet the
competition (b) To act offensively
and attempt to beat the competition
(c) To respond to a customer need
created by a change in the
environment.
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Reducing the Price
• Requirements: (a) Firm must be
financially and competitively strong
to fight in a price war if that becomes
necessary (b) Must have a good
understanding of the demand
function of its product.
53. 53visit: www.studyMarketing.org
Increasing the Price
• Objectives: (a) To maintain
profitability during an inflationary
period (b) To take advantage of
product differences, real or
perceived (c) To segment the current
served market.
54. 54visit: www.studyMarketing.org
Increasing the Price
• Requirements: (a) Relatively low
price elasticity but relatively high
elasticity with respect to some other
factor such as quality or distribution,
(b) Reinforcement from other
ingredients of the marketing mix
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One Price
Strategy
• Charging the same price to all
customers under similar conditions
and for the same quantities.
• Objectives: (a) To simplify pricing
decisions (b) To maintain goodwill
among customers.
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One Price
Strategy
• Requirements:
• Detailed analysis of the firm's
position and cost structure as
compared with the rest of the
industry
• Information concerning the cost
variability of offering the same
price to everyone
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Flexible Pricing Strategy
• Charging different prices to different
customers for the same product and quantity.
• Objective: To maximize short-term profits and
build traffic by allowing upward and
downward adjustments in price depending
on competitive conditions and how much the
customer is willing to pay for the product.
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Flexible Pricing Strategy
• Requirements: Have the information needed
to implement the strategy.
• Usually this strategy is implemented in one of
four ways: (a) by market (b) by product (c) by
timing (d) by technology.
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Flexible Pricing Strategy
• Other requirements include :
• a customer-value analysis of the product,
• an emphasis on profit margin rather than
just volume, and
• a record of competitive reactions to price
moves in the past.
62. 62visit: www.studyMarketing.org
4. Price Leadership
Strategy
• This strategy is used by the leading
firm in an industry in making major
pricing moves, which are followed by
other firms in the industry.
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4. Price Leadership
Strategy
• Objective: To gain control of pricing
decisions within an industry in order
to support the leading firm's own
marketing strategy (i.e., create
barriers to entry, increase profit
margin, etc.).
64. 64visit: www.studyMarketing.org
4. Price Leadership
Strategy
• Requirements:
• An oligopolistic situation
• An industry in which all firms are
affected by the same price
variables (i.e., cost, competition,
demand),
• An industry in which all firms
have common pricing objectives
65. 65visit: www.studyMarketing.org
Source of Reference:
Subhas Jain, Marketing Planning and Strategy, Prentice
Hall International. You can obtain this excellent book at this link:
http://www.amazon.com/Marketing-Planning-Strategy-Subhash-
Jain/dp/075933871X/ref=pd_bbs_sr_1?ie=UTF8&s=books&qid=1219803933&sr=1-1