The document discusses various pricing strategies that can be used including penetration pricing, market skimming, value pricing, loss leader pricing, psychological pricing, price leadership, tender pricing, price discrimination, predatory pricing, absorption cost pricing, marginal cost pricing, contribution pricing, target pricing, and cost-plus pricing. It provides examples and explanations of when each strategy may be suitable.
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.
New-Product Pricing Strategies
Product Mix Pricing Strategies
Price Adjustment Strategies
Price Changes
Market-skimming pricing is a strategy with high initial prices to “skim” revenue layers from the market
Product quality and image must support the price
Buyers must want the product at the price
Costs of producing the product in small volume should not cancel the advantage of higher prices
Competitors should not be able to enter the market easily
Market-penetration pricing sets a low initial price in order to penetrate the market quickly and deeply to attract a large number of buyers quickly to gain market share
Price-sensitive market
Inverse relationship of production and distribution cost to sales growth
Low prices must keep competition out of the market
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.
New-Product Pricing Strategies
Product Mix Pricing Strategies
Price Adjustment Strategies
Price Changes
Market-skimming pricing is a strategy with high initial prices to “skim” revenue layers from the market
Product quality and image must support the price
Buyers must want the product at the price
Costs of producing the product in small volume should not cancel the advantage of higher prices
Competitors should not be able to enter the market easily
Market-penetration pricing sets a low initial price in order to penetrate the market quickly and deeply to attract a large number of buyers quickly to gain market share
Price-sensitive market
Inverse relationship of production and distribution cost to sales growth
Low prices must keep competition out of the market
pricing methods, perceived value pricing, competition based pricing, total cost based pricing or floor pricing, mark up pricing, target return pricing.
pricing methods, perceived value pricing, competition based pricing, total cost based pricing or floor pricing, mark up pricing, target return pricing.
Services Marketing
Chapter – 9
Pricing Of Services
Introduction
Pricing or Price is the key element in the traditional marketing mix (the 4Ps) and also the enhanced marketing mix (the 7 Ps). This is the element which earns revenue. This is highly critical because this is the strategy which can make or mar the business.
The firms must make it both ways –the price must
(1) get profits for the firm, and
(2) give value to its customers.
Names of Service Pricing
Pricing for goods is easy and straight forward, while for services it is complicated, may be controlled by several authorities, varies with time, place, people, etc.
For goods the price has a single name “PRICE”, but for services it has several names like :
Names of Service Prices
What Makes Service Pricing Different?
No Ownership of Services
Higher Ratio of Fixed Costs to Variable Costs
Variability of Both Inputs and Outputs.
Many Services Are Hard to Evaluate
Law of Variable Proportions and Law of Returns to ScaleAyush Parekh
This presentation puts emphasis on
Law of Variable proportion and Law of Returns to Scale
It also puts light on production function, cost function, etc.
40 Things Every Start-Up Should Do To Scale UpHappy Marketer
A must read for everyone - from frontline employees to senior executives to get aligned in contributing to the growth of a start-up. Based on 'Scaling Up: How a Few Companies Make It...and Why the Rest Don't (Rockefeller Habits 2.0)' by Verne Harnish, this slideshare shares practical one-line approaches on building an industry-dominating business.
How to Pick the Price for Your Product by Amazon Product ManagerProduct School
Pricing is one of the most important skills a Product Manager needs to have. Whether it be pricing a a new product, service launch, pricing an upgrade or just thinking about price cuts to stay competitive. We talked about how top firms think about pricing, various pricing strategies, architecture and implementation.
Aditya Vikram, Product Manager at Amazon discussed the importance of pricing, pricing strategies, and price setting and architecture.
11th Cairo Marketing Club (Pricing Strategies) by Dr.Ahmed Hany 31-3-2018Mahmoud Bahgat
11th Cairo Marketing Club (Pricing Strategies) by Dr.Ahmed Hany 31-3-2018
*#Mahmoud_Bahgat*
*#Marketing_Club*
للاشتراك في نادي التسويق بالشرق الاوسط
*If you are a Marketer now*
To Join our whatsapp &Monthly Meeting in Middle East Cities
Send me ur data on Whatsap
00966569654916
*Fill ur data here as speaker or member*
https://lnkd.in/efkTE7T
Join now
*Marketing Club Facebook Page*
https://lnkd.in/gm4c4hD
*Marketing Club Facebook Group*
https://lnkd.in/gX-5au5
*Egyptian Pharmacists Society Facebook Page*
https://lnkd.in/fucnv_5
•••••••••••••••••••••••••••••
*#Mahmoud_Bahgat*
00966568654916
لخدمات التسويق والدعاية والاعلان
*#Legendary_ADLAND*
Complete Marketing Solutions
*www.TheLegendary.info*
•••••••••••••••••••••••••••••
للحصول على اقامة او شركة في اوروبا
*#Legendary_Europe*
Europe Companies & Residency
*www.LegendaryEurope.Net*
•••••••••••••••••••••••••••••
*Contact Bahgat*
M.Bahgat@TheLegendary.Info
India Orthopedic Devices Market: Unlocking Growth Secrets, Trends and Develop...Kumar Satyam
According to TechSci Research report, “India Orthopedic Devices Market -Industry Size, Share, Trends, Competition Forecast & Opportunities, 2030”, the India Orthopedic Devices Market stood at USD 1,280.54 Million in 2024 and is anticipated to grow with a CAGR of 7.84% in the forecast period, 2026-2030F. The India Orthopedic Devices Market is being driven by several factors. The most prominent ones include an increase in the elderly population, who are more prone to orthopedic conditions such as osteoporosis and arthritis. Moreover, the rise in sports injuries and road accidents are also contributing to the demand for orthopedic devices. Advances in technology and the introduction of innovative implants and prosthetics have further propelled the market growth. Additionally, government initiatives aimed at improving healthcare infrastructure and the increasing prevalence of lifestyle diseases have led to an upward trend in orthopedic surgeries, thereby fueling the market demand for these devices.
Improving profitability for small businessBen Wann
In this comprehensive presentation, we will explore strategies and practical tips for enhancing profitability in small businesses. Tailored to meet the unique challenges faced by small enterprises, this session covers various aspects that directly impact the bottom line. Attendees will learn how to optimize operational efficiency, manage expenses, and increase revenue through innovative marketing and customer engagement techniques.
Business Valuation Principles for EntrepreneursBen Wann
This insightful presentation is designed to equip entrepreneurs with the essential knowledge and tools needed to accurately value their businesses. Understanding business valuation is crucial for making informed decisions, whether you're seeking investment, planning to sell, or simply want to gauge your company's worth.
Personal Brand Statement:
As an Army veteran dedicated to lifelong learning, I bring a disciplined, strategic mindset to my pursuits. I am constantly expanding my knowledge to innovate and lead effectively. My journey is driven by a commitment to excellence, and to make a meaningful impact in the world.
RMD24 | Debunking the non-endemic revenue myth Marvin Vacquier Droop | First ...BBPMedia1
Marvin neemt je in deze presentatie mee in de voordelen van non-endemic advertising op retail media netwerken. Hij brengt ook de uitdagingen in beeld die de markt op dit moment heeft op het gebied van retail media voor niet-leveranciers.
Retail media wordt gezien als het nieuwe advertising-medium en ook mediabureaus richten massaal retail media-afdelingen op. Merken die niet in de betreffende winkel liggen staan ook nog niet in de rij om op de retail media netwerken te adverteren. Marvin belicht de uitdagingen die er zijn om echt aansluiting te vinden op die markt van non-endemic advertising.
Remote sensing and monitoring are changing the mining industry for the better. These are providing innovative solutions to long-standing challenges. Those related to exploration, extraction, and overall environmental management by mining technology companies Odisha. These technologies make use of satellite imaging, aerial photography and sensors to collect data that might be inaccessible or from hazardous locations. With the use of this technology, mining operations are becoming increasingly efficient. Let us gain more insight into the key aspects associated with remote sensing and monitoring when it comes to mining.
Memorandum Of Association Constitution of Company.pptseri bangash
www.seribangash.com
A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA:
Contents of Memorandum of Association:
Name Clause: This clause states the name of the company, which should end with words like "Limited" or "Ltd." for a public limited company and "Private Limited" or "Pvt. Ltd." for a private limited company.
https://seribangash.com/article-of-association-is-legal-doc-of-company/
Registered Office Clause: It specifies the location where the company's registered office is situated. This office is where all official communications and notices are sent.
Objective Clause: This clause delineates the main objectives for which the company is formed. It's important to define these objectives clearly, as the company cannot undertake activities beyond those mentioned in this clause.
www.seribangash.com
Liability Clause: It outlines the extent of liability of the company's members. In the case of companies limited by shares, the liability of members is limited to the amount unpaid on their shares. For companies limited by guarantee, members' liability is limited to the amount they undertake to contribute if the company is wound up.
https://seribangash.com/promotors-is-person-conceived-formation-company/
Capital Clause: This clause specifies the authorized capital of the company, i.e., the maximum amount of share capital the company is authorized to issue. It also mentions the division of this capital into shares and their respective nominal value.
Association Clause: It simply states that the subscribers wish to form a company and agree to become members of it, in accordance with the terms of the MOA.
Importance of Memorandum of Association:
Legal Requirement: The MOA is a legal requirement for the formation of a company. It must be filed with the Registrar of Companies during the incorporation process.
Constitutional Document: It serves as the company's constitutional document, defining its scope, powers, and limitations.
Protection of Members: It protects the interests of the company's members by clearly defining the objectives and limiting their liability.
External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers.
https://seribangash.com/difference-public-and-private-company-law/
Binding Authority: The company and its members are bound by the provisions of the MOA. Any action taken beyond its scope may be considered ultra vires (beyond the powers) of the company and therefore void.
Amendment of MOA:
While the MOA lays down the company's fundamental principles, it is not entirely immutable. It can be amended, but only under specific circumstances and in compliance with legal procedures. Amendments typically require shareholder
What are the main advantages of using HR recruiter services.pdfHumanResourceDimensi1
HR recruiter services offer top talents to companies according to their specific needs. They handle all recruitment tasks from job posting to onboarding and help companies concentrate on their business growth. With their expertise and years of experience, they streamline the hiring process and save time and resources for the company.
Putting the SPARK into Virtual Training.pptxCynthia Clay
This 60-minute webinar, sponsored by Adobe, was delivered for the Training Mag Network. It explored the five elements of SPARK: Storytelling, Purpose, Action, Relationships, and Kudos. Knowing how to tell a well-structured story is key to building long-term memory. Stating a clear purpose that doesn't take away from the discovery learning process is critical. Ensuring that people move from theory to practical application is imperative. Creating strong social learning is the key to commitment and engagement. Validating and affirming participants' comments is the way to create a positive learning environment.
Explore our most comprehensive guide on lookback analysis at SafePaaS, covering access governance and how it can transform modern ERP audits. Browse now!
Affordable Stationery Printing Services in Jaipur | Navpack n PrintNavpack & Print
Looking for professional printing services in Jaipur? Navpack n Print offers high-quality and affordable stationery printing for all your business needs. Stand out with custom stationery designs and fast turnaround times. Contact us today for a quote!
3. Penetration Pricing
Price set to ‘penetrate the market’
‘Low’ price to secure high volumes
Typical in mass market products – chocolate
bars, food stuffs, household goods, etc.
Suitable for products with long anticipated
life cycles
May be useful if launching into a new market
4. Market Skimming
High price, Low volumes
Skim the profit from the market
Suitable for products that have short life
cycles or which will face competition at some
point in the future (e.g. after a patent runs out)
Examples include: digital technology, new
DVDs, etc.
5. Value Pricing
Price set in accordance with customer
perceptions about the value of the
product/service
Examples include status products/exclusive
products
6. Loss Leader
Goods/services deliberately sold below cost to
encourage sales elsewhere
Typical in supermarkets, e.g. at Diwali, selling
sweets at low cost in the hope that people will be
attracted to the store and buy other things
Purchases of other items more than covers
‘loss’ on item sold
e.g. ‘Free’ mobile phone when taking on contract
package
7. Psychological Pricing
Used to play on consumer perceptions
Classic example – Rs.999 instead of Rs.1000!
Links with value pricing – high value goods
priced according to what consumers THINK
should be the price
8. Going Rate (Price Leadership)
In case of price leader, rivals have difficulty in
competing on price – too high and they lose
market share, too low and the price leader would
match price and force smaller rival out of market
May follow pricing leads of rivals especially
where those rivals have a clear dominance of
market share
Where competition is limited, ‘going rate’ pricing
may be applicable – banks, petrol, supermarkets,
electrical goods – find very similar prices in all
outlets
9. Tender Pricing
Many contracts awarded on a tender basis
Firm (or firms) submit their price for
carrying out the work
Purchaser then chooses which represents
best value
Mostly done in secret
10. Price Discrimination
Charging a different price for the same
good/service in different markets
Requires each market to be impenetrable
Requires different price elasticity of demand
in each market
Example: Prices for rail travel differ for the same
journey at different times of the day
11. Destroyer/Predatory Pricing
Deliberate price cutting or offer of ‘free
gifts/products’ to force rivals (normally smaller
and weaker) out of business or prevent new
entrants
Anti-competitive and illegal if it can be proved
12. Absorption/Full Cost Pricing
Full Cost Pricing – attempting to set price to
cover both fixed and variable costs
Absorption Cost Pricing – Price set to
‘absorb’ some of the fixed costs of
production
13. Marginal Cost Pricing
Marginal cost – the cost of producing ONE
extra or ONE fewer item of production
MC pricing – allows flexibility
Particularly relevant in transport where fixed
costs may be relatively high
14. Marginal Cost Pricing
Example:
Aircraft flying from India to New York – Total Cost (including normal
profit) = Rs.15,000 of which Rs.13,000 is fixed cost*
Number of seats = 160, average price = Rs.93.75
MC of each passenger = Rs.2000/160 = Rs.12.50
If flight not full, better to offer passengers chance of flying at
Rs.12.50 and fill the seat than not fill it at all!
*All figures are estimates only
15. Contribution Pricing
Contribution = Selling Price – Variable (direct
costs)
Prices set to ensure coverage of variable costs
and a ‘contribution’ to the fixed costs
Similar in principle to marginal cost pricing
Break-even analysis might be useful in such
circumstances
16. Target Pricing
Setting price to ‘target’ a specified profit level
Estimates of the cost and potential revenue at
different prices, and thus the break-even have to
be made, to determine the mark-up
Mark-up = Profit/Cost x 100
17. Cost-Plus Pricing
Calculation of the average cost (AC) plus a
mark up
AC = Total Cost/Output