Price As A Competitive Advantage

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1. The document discusses price as a competitive advantage and different pricing strategies companies can employ. It defines competitive advantage as offering greater value through lower prices or higher quality to justify higher prices. 2. Several factors are considered when setting prices like objectives, product positioning, substitutes, branding, and cost of production. Pricing strategies discussed include premium pricing, penetration pricing, skimming, and cost leadership. 3. Examples given are Tata's low-cost Nano car and Mercedes' high-priced differentiated products. The conclusion is that price plays a key role in competitive advantage and sales, and should provide value to the customer.

Business

PRICE AS A COMPETITIVE ADVANTAGE PREPARED BY :- Pankaj Prabhakar

OBJECTIVE ,[object Object],[object Object]

Price as a competitive advantage - Definition ,[object Object]

INTRODUCTION TO PRICING ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

FACTORS TO BE CONSIDER WHILE PRICING A PRODUCT ,[object Object],[object Object],[object Object],[object Object]

[object Object],[object Object],[object Object],[object Object],[object Object]

[object Object],Sales & Profits ($) Time Product Develop- Ment Stage Losses- Investment ($) Intro- duction Growth Maturity Decline Sales Profits

[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Other Strategies ,[object Object],[object Object],[object Object],[object Object]

Low price strategy example :- TATA’S Nano -

Product differentiation (high price) :- ,[object Object],[object Object]

IN THIS SUMMARY The Price Advantage, written by Walter Baker, Michael Marn, and Craig Zawada, outlines how to initiate and maintain appropriate pricing in order to effectively increase profits. By taking advantage of minor price increases, a company can significantly increase its profits. The authors not only demonstrate how to accomplish successful pricing but also explain how to avoid common pricing mistakes, such as emotional price wars or missed opportunities in postmerger or lifecycle pricing. The marketplace rewards businesses with superior products and services. The price advantage creates pride within a company because its customers knowingly pay more for services and products they believe are superior and worth the cost. Taking responsibility for price management is essential in today’s market due to downward pressures on price levels. Otherwise, percentage points of price and opportunities for profit can slip away. SUBSCRIBE TODAY http://www.bizsum.com/summaries/price-advantage

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