This document discusses pricing decisions and marketing channels. It covers factors that influence pricing like internal and external factors. It also discusses pricing objectives like profitability, market share, value, prestige, and not-for-profit objectives. Various pricing strategies are outlined like premium pricing, penetration pricing, product line pricing, and geographical pricing. The document also discusses marketing channel functions, intensity of distribution, and channel management topics like formulating channel strategy, designing channel structure, selecting and motivating channel members, and coordinating with the marketing mix.
Pricing In Marketing - UNIT-5 & 6-PRICING.pptetebarkhmichale
The law of attraction is the most powerful force in the universe. If you work against it, it can only bring you pain and misery. Successful people know this but have kept it hidden from the lower class for centuries because they did not want to share their wealth. The universal law of attraction is simple. We attract whatever we choose to give our attention to. If we focus on bad things, we will attract more bad things. But the minute you stop focusing on bad and focus on good, you change the pattern and now good things start coming your way.
If we knew the law of attraction and applied it in our lives daily, we would have so much power and control that it would be scary. We could have what we wanted, and when we wanted it. We would have total control of our lives. If you think of yourself as a powerful attractor, you will attract more of what you want in your life, simply by thinking about it, then acting on it. But there is one ingredient you cannot leave out or the law of attraction won't work.
When we think of an object in our mind, we then send that image to our hearts and act on it with emotion. A formula makes this easy to follow: TFAR (Thoughts, Feelings, Actions, and Results) When we take necessary action, the universe shows up and gives us the results we wanted.
The law of attraction works by performing three steps. And these steps must be done for the process to work. These steps are:
1. Getting clear. You must know what it is you want or else you won’t get it. The universe won’t know what you are asking for, so how can it deliver?
2. Vibrate to the level of energy corresponding to what you want. If you want something and you think about it, feel it, and act on it, you must keep that level of energy going until you achieve the results you are after.
3. Attract what you want like a magnet. If you focus on what you want but don’t allow it to come into your life, it won’t. You have to be willing to accept it and acknowledge it. Then when you act, it will occur.
Whatever you do during the course of a day, whatever thoughts you think about, you are attracting. If you use it every day, regularly, and practice it this way, you will eventually find that it becomes a habit that you will subconsciously practice.
You may not believe it, but the steps you need to take are easy. But you must do them, believe in them, and believe in yourself, or they will not work. Are you ready to get tuned into the universe and get clear? Can you work in harmony with the laws of the universe and become successful?
If so here are the steps you need to follow:
1. Get clear. You must know exactly what it is you want. If you are in doubt, vague, or too general, you won’t get anywhere. You must know exactly what it is you want first. Only then will you be able to focus and concentrate on that thought?
2. Visualize what you want and vibrate to it. You must form a mental image in your mind so you can see it as if you had it in your possession. For women, you can do the
Pricing In Marketing - UNIT-5 & 6-PRICING.pptetebarkhmichale
The law of attraction is the most powerful force in the universe. If you work against it, it can only bring you pain and misery. Successful people know this but have kept it hidden from the lower class for centuries because they did not want to share their wealth. The universal law of attraction is simple. We attract whatever we choose to give our attention to. If we focus on bad things, we will attract more bad things. But the minute you stop focusing on bad and focus on good, you change the pattern and now good things start coming your way.
If we knew the law of attraction and applied it in our lives daily, we would have so much power and control that it would be scary. We could have what we wanted, and when we wanted it. We would have total control of our lives. If you think of yourself as a powerful attractor, you will attract more of what you want in your life, simply by thinking about it, then acting on it. But there is one ingredient you cannot leave out or the law of attraction won't work.
When we think of an object in our mind, we then send that image to our hearts and act on it with emotion. A formula makes this easy to follow: TFAR (Thoughts, Feelings, Actions, and Results) When we take necessary action, the universe shows up and gives us the results we wanted.
The law of attraction works by performing three steps. And these steps must be done for the process to work. These steps are:
1. Getting clear. You must know what it is you want or else you won’t get it. The universe won’t know what you are asking for, so how can it deliver?
2. Vibrate to the level of energy corresponding to what you want. If you want something and you think about it, feel it, and act on it, you must keep that level of energy going until you achieve the results you are after.
3. Attract what you want like a magnet. If you focus on what you want but don’t allow it to come into your life, it won’t. You have to be willing to accept it and acknowledge it. Then when you act, it will occur.
Whatever you do during the course of a day, whatever thoughts you think about, you are attracting. If you use it every day, regularly, and practice it this way, you will eventually find that it becomes a habit that you will subconsciously practice.
You may not believe it, but the steps you need to take are easy. But you must do them, believe in them, and believe in yourself, or they will not work. Are you ready to get tuned into the universe and get clear? Can you work in harmony with the laws of the universe and become successful?
If so here are the steps you need to follow:
1. Get clear. You must know exactly what it is you want. If you are in doubt, vague, or too general, you won’t get anywhere. You must know exactly what it is you want first. Only then will you be able to focus and concentrate on that thought?
2. Visualize what you want and vibrate to it. You must form a mental image in your mind so you can see it as if you had it in your possession. For women, you can do the
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Read| The latest issue of The Challenger is here! We are thrilled to announce that our school paper has qualified for the NATIONAL SCHOOLS PRESS CONFERENCE (NSPC) 2024. Thank you for your unwavering support and trust. Dive into the stories that made us stand out!
Synthetic Fiber Construction in lab .pptxPavel ( NSTU)
Synthetic fiber production is a fascinating and complex field that blends chemistry, engineering, and environmental science. By understanding these aspects, students can gain a comprehensive view of synthetic fiber production, its impact on society and the environment, and the potential for future innovations. Synthetic fibers play a crucial role in modern society, impacting various aspects of daily life, industry, and the environment. ynthetic fibers are integral to modern life, offering a range of benefits from cost-effectiveness and versatility to innovative applications and performance characteristics. While they pose environmental challenges, ongoing research and development aim to create more sustainable and eco-friendly alternatives. Understanding the importance of synthetic fibers helps in appreciating their role in the economy, industry, and daily life, while also emphasizing the need for sustainable practices and innovation.
Embracing GenAI - A Strategic ImperativePeter Windle
Artificial Intelligence (AI) technologies such as Generative AI, Image Generators and Large Language Models have had a dramatic impact on teaching, learning and assessment over the past 18 months. The most immediate threat AI posed was to Academic Integrity with Higher Education Institutes (HEIs) focusing their efforts on combating the use of GenAI in assessment. Guidelines were developed for staff and students, policies put in place too. Innovative educators have forged paths in the use of Generative AI for teaching, learning and assessments leading to pockets of transformation springing up across HEIs, often with little or no top-down guidance, support or direction.
This Gasta posits a strategic approach to integrating AI into HEIs to prepare staff, students and the curriculum for an evolving world and workplace. We will highlight the advantages of working with these technologies beyond the realm of teaching, learning and assessment by considering prompt engineering skills, industry impact, curriculum changes, and the need for staff upskilling. In contrast, not engaging strategically with Generative AI poses risks, including falling behind peers, missed opportunities and failing to ensure our graduates remain employable. The rapid evolution of AI technologies necessitates a proactive and strategic approach if we are to remain relevant.
June 3, 2024 Anti-Semitism Letter Sent to MIT President Kornbluth and MIT Cor...Levi Shapiro
Letter from the Congress of the United States regarding Anti-Semitism sent June 3rd to MIT President Sally Kornbluth, MIT Corp Chair, Mark Gorenberg
Dear Dr. Kornbluth and Mr. Gorenberg,
The US House of Representatives is deeply concerned by ongoing and pervasive acts of antisemitic
harassment and intimidation at the Massachusetts Institute of Technology (MIT). Failing to act decisively to ensure a safe learning environment for all students would be a grave dereliction of your responsibilities as President of MIT and Chair of the MIT Corporation.
This Congress will not stand idly by and allow an environment hostile to Jewish students to persist. The House believes that your institution is in violation of Title VI of the Civil Rights Act, and the inability or
unwillingness to rectify this violation through action requires accountability.
Postsecondary education is a unique opportunity for students to learn and have their ideas and beliefs challenged. However, universities receiving hundreds of millions of federal funds annually have denied
students that opportunity and have been hijacked to become venues for the promotion of terrorism, antisemitic harassment and intimidation, unlawful encampments, and in some cases, assaults and riots.
The House of Representatives will not countenance the use of federal funds to indoctrinate students into hateful, antisemitic, anti-American supporters of terrorism. Investigations into campus antisemitism by the Committee on Education and the Workforce and the Committee on Ways and Means have been expanded into a Congress-wide probe across all relevant jurisdictions to address this national crisis. The undersigned Committees will conduct oversight into the use of federal funds at MIT and its learning environment under authorities granted to each Committee.
• The Committee on Education and the Workforce has been investigating your institution since December 7, 2023. The Committee has broad jurisdiction over postsecondary education, including its compliance with Title VI of the Civil Rights Act, campus safety concerns over disruptions to the learning environment, and the awarding of federal student aid under the Higher Education Act.
• The Committee on Oversight and Accountability is investigating the sources of funding and other support flowing to groups espousing pro-Hamas propaganda and engaged in antisemitic harassment and intimidation of students. The Committee on Oversight and Accountability is the principal oversight committee of the US House of Representatives and has broad authority to investigate “any matter” at “any time” under House Rule X.
• The Committee on Ways and Means has been investigating several universities since November 15, 2023, when the Committee held a hearing entitled From Ivory Towers to Dark Corners: Investigating the Nexus Between Antisemitism, Tax-Exempt Universities, and Terror Financing. The Committee followed the hearing with letters to those institutions on January 10, 202
2024.06.01 Introducing a competency framework for languag learning materials ...Sandy Millin
http://sandymillin.wordpress.com/iateflwebinar2024
Published classroom materials form the basis of syllabuses, drive teacher professional development, and have a potentially huge influence on learners, teachers and education systems. All teachers also create their own materials, whether a few sentences on a blackboard, a highly-structured fully-realised online course, or anything in between. Despite this, the knowledge and skills needed to create effective language learning materials are rarely part of teacher training, and are mostly learnt by trial and error.
Knowledge and skills frameworks, generally called competency frameworks, for ELT teachers, trainers and managers have existed for a few years now. However, until I created one for my MA dissertation, there wasn’t one drawing together what we need to know and do to be able to effectively produce language learning materials.
This webinar will introduce you to my framework, highlighting the key competencies I identified from my research. It will also show how anybody involved in language teaching (any language, not just English!), teacher training, managing schools or developing language learning materials can benefit from using the framework.
How to Make a Field invisible in Odoo 17Celine George
It is possible to hide or invisible some fields in odoo. Commonly using “invisible” attribute in the field definition to invisible the fields. This slide will show how to make a field invisible in odoo 17.
Acetabularia Information For Class 9 .docxvaibhavrinwa19
Acetabularia acetabulum is a single-celled green alga that in its vegetative state is morphologically differentiated into a basal rhizoid and an axially elongated stalk, which bears whorls of branching hairs. The single diploid nucleus resides in the rhizoid.
Biological screening of herbal drugs: Introduction and Need for
Phyto-Pharmacological Screening, New Strategies for evaluating
Natural Products, In vitro evaluation techniques for Antioxidants, Antimicrobial and Anticancer drugs. In vivo evaluation techniques
for Anti-inflammatory, Antiulcer, Anticancer, Wound healing, Antidiabetic, Hepatoprotective, Cardio protective, Diuretics and
Antifertility, Toxicity studies as per OECD guidelines
5. Objective Purpose Example
Profitability Objectives Profit Maximization
Target Return
Low introductory interest rates on
credit cards with high standard rates
after 6 months.
Market Share Objectives Sales Maximization
Market Share
Dell’s low-priced PCs increase market
share and sales of services
Value Objectives Value Pricing Per-song charges for music downloads
Prestige Objectives Lifestyle
Image
High-priced luxury autos such as
BMW and watches by Piaget
Not For Profit Objectives Cost Recovery
Market Incentives
Market Suppression
High prices for tobacco and alcohol to
reduce consumption
PRICING OBJECTIVES
6. PROFITABILITY OBJECTIVE
Marginal analysis - Method of analysing the
relationship among costs, sales price, and
increased sales volume
Profit maximization - Point at which the
additional revenue gained by increasing the
price of a product equals the increase in total
costs
Target-return objectives - Short-run or long-
run pricing objectives of achieving a specified
return on either sales or investment
7. VOLUME OBJECTIVE
Belief that increased sales volume is more
important in the long run than immediate
profits
Can maximize sales through pricing and
nonprice factors such as service and quality
Market-share objective - The goal of
controlling a portion of the market for a firm’s
product
8. VALUE OBJECTIVE
Emphasizes benefits derived from a product
in comparison to the price and quality levels
of competing offerings
Works best for relatively low-priced goods
and services
Challenge is convincing customers that low-
priced brands offer quality comparable to that
of a higher-priced product
9. Prestige Objective:-
Develop and maintain an image of quality and
exclusiveness that appeals to status-conscious
consumers
Example: Tag Heuer watches
Pricing Objectives of Not-for-Profit
Organizations
Pricing strategy helps them achieve specific goals
Profit maximization
Cost recovery
Market incentives
Market suppression
10. PRICING STRATEGIES
Premium pricing
Uses a high price, but gives a good
product/service exchange e.g. Concorde, The
Ritz Hotel
Penetration pricing
offers low price to gain market share - then
increases price
e.g. France Telecom - to attract new corporate
clients (or Telewest cable)
Economy pricing
placed at ‘no frills’, low price
e.g. Soups, spaghetti, beans - ‘economy’ brands
11. PRICING STRATEGIES
Price skimming
where prices are high - usually during introduction
e.g new albums or films on release
ultimately prices will reduce to the ‘parity’
Psychological pricing
to get a customer to respond on an emotional, rather than
rational basis
.e.g 99p not £1.01 ‘price point perspective
Product line pricing
rationale of a product range
e.g. MARS 32p, Four-pack 99p, Bite-size £1.29
Pricing variations
‘off-peak’ pricing, early booking discounts,etc
e.g Grundig offers a ‘cash back’ incentive for expensive goods
12. PRICING STRATEGIES
Optional product-pricing
e.g. optional extras - BMW famously under-equipped
Captive product pricing
products that complement others
e.g Gillette razors (low price) and blades (high price)
Product-bundle pricing
sellers combine several products at the same price
e.g software, books, CDs.
Promotional pricing
BOGOF e.g. toothpaste, soups, etc
13. Geographical pricing
different prices for customers in different parts of
the world
e.g.Include shipping costs, or place on PLC
Value pricing
usually during difficult economic conditions
e.g. Value menus at McDonalds
15. PRICE DETERMINATION FACTORS
Demand - The amounts of a firm’s product that
consumers will purchase at different prices during a
specified time period
Supply - The amounts of a good or service that will be
offered for sale at different prices during a specified
period
Pure competition - Market structure with so many buyers
and sellers that no single participant can significantly
influence price
Monopolistic competition - Diverse parties exchange
heterogeneous, relatively well-differentiated products,
giving marketers some control over prices
Oligopoly - Relatively few sellers; each has large
influence on price
Monopoly - Only one seller of a product exists and for
which there are no close substitutes
16. PRICING METHODS
Cost-plus pricing - Uses a base-cost figure per unit and
adds a markup to cover unassigned costs and to provide a
profit
Allows businesses with low costs to set prices lower than those of
competitors’ and still make a profit
Full-cost pricing
Uses all relevant variable costs in setting a product’s
price
Allocates the fixed costs not directly attributed to the
production of the priced item
No consideration of competition or demand for the item
Any method for allocating overhead is arbitrary and may
be unrealistic
17. Incremental-cost pricing - Attempts to use
only costs directly attributable to a specific
output in setting prices
Breakeven Analysis: - Pricing technique used
to determine the number of products that must be
sold at a specified price to generate enough
revenue to cover total cost
18. TEN WAYS TO ‘INCREASE’ PRICES WITHOUT
INCREASING PRICE
Revise the discount structure
Change the minimum order size
Charge for delivery and special services
Invoice for repairs on serviced equipment
Charge for engineering, installation
Charge for overtime on rushed orders
Collect interest on overdue accounts
Produce less of the lower margin models in the line
Write penalty clauses into contracts
Change the physical characteristics of the product
23. MARKETING CHANNEL MANAGEMENT
Formulating
channel strategy
Design channel
structure
Select channel
members
Motivate channel
members
Coordinate with
marketing mix
Evaluate member
performance
Realize only the place ‘P’
provides protection from
imitation
Distribution strategies can
provide sustainable
competitive advantage
24. MARKETING CHANNEL MANAGEMENT
Formulating channel
strategy
Design channel
structure
Select channel
members
Motivate channel
members
Coordinate with
marketing mix
Evaluate member
performance
Set distribution objectives
Specify tasks to be
performed by the channel
Consider alternative
structures
Choose optimal structure
25. MARKETING CHANNEL MANAGEMENT
Formulating channel
strategy
Design channel
structure
Select channel
members
Motivate channel
members
Coordinate with
marketing mix
Evaluate member
performance
Optimal structure identified
by considering:
Market variables
Product variables
Company variables
Intermediary variables
Behavioral variables
External environment
variables
26. MARKETING CHANNEL MANAGEMENT
Formulating channel
strategy
Design channel
structure
Select channel
members
Motivate channel
members
Coordinate with
marketing mix
Evaluate member
performance
Develop selection criteria
Prospectiv
e channel
member
Management
succession
Sales
Performance
Market
Coverage
Reputation
Product
Lines
Sales
Strength
Credit and
Financial
Condition
Size
Attitude
Management
Ability
27. MARKETING CHANNEL MANAGEMENT
Formulating channel
strategy
Design channel
structure
Select channel
members
Motivate channel
members
Coordinate with
marketing mix
Evaluate member
performance
Find prospective channel
members
Evaluate prospective
channel members
Convert prospectives into
actual channel members
28. MARKETING CHANNEL MANAGEMENT
Formulating channel
strategy
Design channel
structure
Select channel
members
Motivate
channel members
Coordinate with
marketing mix
Evaluate member
performance
Learn about the needs and
problems of channel
members
Advisory committees
Offer support
Informal support
Strategic alliances,
partnerships
Provide ongoing leadership
Continuing focus
29. MARKETING CHANNEL MANAGEMENT
Formulating channel
strategy
Design channel
structure
Select channel
members
Motivate channel
members
Coordinate
with marketing mix
Evaluate member
performance
Product and Channel
Retailers (a channel
member) play an important
role in product positioning
Display fixtures
Personal selling
30. MARKETING CHANNEL MANAGEMENT
Formulating channel
strategy
Design channel
structure
Select channel
members
Motivate channel
members
Coordinate
with marketing mix
Evaluate member
performance
Pricing and Channel
Relevant to channel
members:
Profit margins available to
channel members
Pricing policies
Incentives
31. MARKETING CHANNEL MANAGEMENT
Formulating channel
strategy
Design channel
structure
Select channel
members
Motivate channel
members
Coordinate
with marketing mix
Evaluate member
performance
Promotion and Channel
Promotions interface with
channel members
Point-of-purchase displays
Inventory levels
Sales person training
32. MARKETING CHANNEL MANAGEMENT
Formulating channel
strategy
Design channel
structure
Select channel
members
Motivate channel
members
Coordinate with
marketing mix
Evaluate
member performance
Assessment of success of
channel members in
implementing strategies
Requires good information
flows between members
Point-of-sale systems, EDI
33. MARKETING CHANNEL LOGISTICS / PHYSICAL DISTRIBUTION
Logistics make products available to
customers
Also called physical distribution (PD)
Supply chain management (SCM) are
logistical systems that facilitate close
cooperation among firms in a channel
34. MARKETING CHANNEL LOGISTICS / PHYSICAL DISTRIBUTION
Total Cost Approach and Systems Concept
Management
views logistics as
a system of
interrelated
components
Management
tries to reduce
cost of using the
components
as a whole
Transportation
Materials Handling
Order Processing
Inventory Control
Warehousing
Packaging
Systems
Concept
Total Cost
Approach
35. MARKETING CHANNEL LOGISTICS / PHYSICAL DISTRIBUTION
Almost all
products
must be
moved
Generally
one of the
highest
percentage
costs
Use in-
house
transport or
common
carriers?
What rates
are
available?
What are
competitors
doing?
Transportation
Materials Handling
Order Processing
Inventory Control
Warehousing
Packaging
36. MARKETING CHANNEL LOGISTICS / PHYSICAL DISTRIBUTION
Growing
use of
cross-
docking
How to
minimize
distances
What
equipment
should be
used?
How to use
labor
efficiently
Transportation
Materials Handling
Order Processing
Inventory Control
Warehousing
Packaging
37. MARKETING CHANNEL LOGISTICS / PHYSICAL DISTRIBUTION
Order
cycle time
(time
between
order and
delivery)
How to
reduce
errors in
order
processing
How to
develop
standards
for different
product
types
Transportation
Materials Handling
Order Processing
Inventory Control
Warehousing
Packaging
38. MARKETING CHANNEL LOGISTICS / PHYSICAL DISTRIBUTION
Economic
order
quantity
(EOQ) is
the lowest
total cost
(inventory
carry cost
+ ordering
costs)
How to
balance
inventory
levels with
order sizes
Transportation
Materials Handling
Order Processing
Inventory Control
Warehousing
Packaging
39. MARKETING CHANNEL LOGISTICS / PHYSICAL DISTRIBUTION
Growth of
single item
shipments
Where to
locate a
warehouse
Number of
warehousin
g units and
size of units
Ownership
question
Transportation
Materials Handling
Order Processing
Inventory Control
Warehousing
Packaging
40. MARKETING CHANNEL LOGISTICS / PHYSICAL DISTRIBUTION
Effective
packaging
can help
control
inventory
carry costs
and help
logistics
efficiency
What type of
package is
required
(sturdiness,
etc.)
Transportation
Materials Handling
Order Processing
Inventory Control
Warehousing
Packaging