Pricing decision
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Price is the sum of all the values that customers give up to gain the benefits of having or using a product or service
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Pricing methods..
Cost-based pricing methods include mark-up pricing, absorption cost pricing, target rate of return pricing, and marginal cost pricing. Demand-based pricing methods are determined by what the traffic can bear, skimming pricing, and penetration pricing. Other pricing methods include competition-oriented pricing, product line pricing, tender pricing, affordability-based pricing, and differentiated pricing. Pricing strategies must be appropriate for achieving the desired objectives of the firm.
Pricing strategies - Marketing
The document discusses various pricing strategies and concepts, including new product pricing strategies like market skimming and market penetration pricing. It also covers product mix pricing strategies, price adjustment strategies such as discounts and segmented pricing, and factors to consider when making price changes. Public policy concerns related to pricing such as predatory pricing and unfair trade practices are also summarized.
Group 2 objectives of pricing new design
The document discusses various pricing objectives that companies consider when setting prices. Pricing objectives provide guidelines for developing marketing strategies and pricing processes. Objectives can be related to profits, sales, competition, customers, or other factors. Common profit-related objectives include maximizing current profits and targeting return on investment. Sales objectives often focus on growth, market share, and increasing market share. Competition objectives may involve facing competition, keeping competitors away, or achieving quality leadership through pricing. Customer-related objectives typically aim to win customer confidence and satisfaction. Other objectives can include market penetration, promoting new products, maintaining image/reputation, skimming profits, price stability, and ensuring survival and growth. Pricing decisions are made in the context
Pricing decision
This document discusses pricing strategies and factors that affect pricing decisions. It begins by defining price and explaining that pricing is an important business decision. It then outlines various objectives of pricing, internal factors like costs and product differentiation, and external factors like competition and demand. The document also explains different pricing strategies such as penetration pricing, premium pricing, bundle pricing, and dynamic pricing. It concludes that setting objectives is important for determining appropriate pricing strategies.
Marketing mix
The document discusses the marketing mix, which refers to the set of controllable marketing tactics used by a company. The traditional marketing mix includes the 4Ps - Product, Price, Place (distribution), and Promotion. Some expand this to the 7Ps by adding People, Physical Evidence, and Process. The marketing mix involves determining the right product to meet customer needs, setting the proper price, making the product available in the right places, and promoting it effectively to potential customers. A company must consider internal and external factors that influence how it sets its marketing mix strategies.
Pricing (marketing)
Price & Pricing?
Objectives of Pricing
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Pricing Strategies
Consideration in Price Setting
Internal & External Factors in Price setting
Mix Pricing Strategies
New Product Pricing Strategies
Pricing Adjustment
Pricing Policies
Pricing strategy
This document discusses various pricing strategies and concepts. It begins by defining price and explaining that pricing strategies are designed for brands and commodities. It then provides details on 12 different pricing strategies including market skimming pricing, penetration pricing, competitive pricing, product line pricing, and geographical pricing. The document also covers price adjustment strategies such as discount pricing, segmented pricing, and psychological pricing. It concludes by discussing factors that influence price changes and how companies may respond to competitors' price changes.
Pricing methods
The document discusses various pricing methods used by companies. It outlines cost-based methods like cost-plus pricing and marginal cost pricing. It also discusses competition-oriented methods like sealed bid pricing and going rate pricing. Further, it explains demand-oriented pricing such as price discrimination and perceived value pricing. Finally, it elaborates on different strategy-based pricing methods including market skimming, market penetration, two-part pricing, block pricing, and commodity bundling.
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Pricing methods..
Cost-based pricing methods include mark-up pricing, absorption cost pricing, target rate of return pricing, and marginal cost pricing. Demand-based pricing methods are determined by what the traffic can bear, skimming pricing, and penetration pricing. Other pricing methods include competition-oriented pricing, product line pricing, tender pricing, affordability-based pricing, and differentiated pricing. Pricing strategies must be appropriate for achieving the desired objectives of the firm.
Pricing strategies - Marketing
The document discusses various pricing strategies and concepts, including new product pricing strategies like market skimming and market penetration pricing. It also covers product mix pricing strategies, price adjustment strategies such as discounts and segmented pricing, and factors to consider when making price changes. Public policy concerns related to pricing such as predatory pricing and unfair trade practices are also summarized.
Group 2 objectives of pricing new design
The document discusses various pricing objectives that companies consider when setting prices. Pricing objectives provide guidelines for developing marketing strategies and pricing processes. Objectives can be related to profits, sales, competition, customers, or other factors. Common profit-related objectives include maximizing current profits and targeting return on investment. Sales objectives often focus on growth, market share, and increasing market share. Competition objectives may involve facing competition, keeping competitors away, or achieving quality leadership through pricing. Customer-related objectives typically aim to win customer confidence and satisfaction. Other objectives can include market penetration, promoting new products, maintaining image/reputation, skimming profits, price stability, and ensuring survival and growth. Pricing decisions are made in the context
Pricing decision
This document discusses pricing strategies and factors that affect pricing decisions. It begins by defining price and explaining that pricing is an important business decision. It then outlines various objectives of pricing, internal factors like costs and product differentiation, and external factors like competition and demand. The document also explains different pricing strategies such as penetration pricing, premium pricing, bundle pricing, and dynamic pricing. It concludes that setting objectives is important for determining appropriate pricing strategies.
Marketing mix
The document discusses the marketing mix, which refers to the set of controllable marketing tactics used by a company. The traditional marketing mix includes the 4Ps - Product, Price, Place (distribution), and Promotion. Some expand this to the 7Ps by adding People, Physical Evidence, and Process. The marketing mix involves determining the right product to meet customer needs, setting the proper price, making the product available in the right places, and promoting it effectively to potential customers. A company must consider internal and external factors that influence how it sets its marketing mix strategies.
Pricing (marketing)
Price & Pricing?
Objectives of Pricing
Methods of Pricing
Pricing Strategies
Consideration in Price Setting
Internal & External Factors in Price setting
Mix Pricing Strategies
New Product Pricing Strategies
Pricing Adjustment
Pricing Policies
Pricing strategy
This document discusses various pricing strategies and concepts. It begins by defining price and explaining that pricing strategies are designed for brands and commodities. It then provides details on 12 different pricing strategies including market skimming pricing, penetration pricing, competitive pricing, product line pricing, and geographical pricing. The document also covers price adjustment strategies such as discount pricing, segmented pricing, and psychological pricing. It concludes by discussing factors that influence price changes and how companies may respond to competitors' price changes.
Pricing methods
The document discusses various pricing methods used by companies. It outlines cost-based methods like cost-plus pricing and marginal cost pricing. It also discusses competition-oriented methods like sealed bid pricing and going rate pricing. Further, it explains demand-oriented pricing such as price discrimination and perceived value pricing. Finally, it elaborates on different strategy-based pricing methods including market skimming, market penetration, two-part pricing, block pricing, and commodity bundling.
Pricing Decisions & Strategies
Pricing is a strategic issue that affects other elements of the marketing mix like product features, distribution channels, and promotion. There are several steps to pricing a product, including analyzing costs and demand, setting pricing objectives like profit or revenue maximization, and determining the actual price using factors like costs, demand, and environmental considerations. Common pricing objectives include current profit maximization, current revenue maximization, maximizing quantity sold, and maximizing profit margins. Pricing methods include cost-plus pricing, target return pricing, and value-based pricing. Price discounts are also used to influence demand and include quantity, seasonal, cash, trade, and promotional discounts.
Advertising and sales promotion
The document discusses advertising and sales promotion. It defines advertising as attempting to influence customers through paid announcements. The goal of advertising is to attract new customers by defining the target market and reaching out to them effectively. Sales promotion aims to boost short-term sales through incentives and added value to consumers, wholesalers, or retailers. Some objectives of both advertising and sales promotion include introducing new products, attracting customers, and increasing or stimulating sales.
Pricing strategies
This document discusses various pricing strategies that companies can employ. It outlines strategies for new product pricing such as market skimming and market penetration pricing. It also discusses product mix pricing strategies including product line, optional product, captive product, by-product, and product bundle pricing. Additionally, it covers price adjustment strategies like discounts, segmented pricing, psychological pricing, promotional pricing, geographical pricing, dynamic pricing, and international pricing. The strategies provide options for companies to set prices for new and existing products in different markets and customer segments.
11. pricing products pricing considerations and strategies
1) The document discusses various pricing strategies for new products, including market skimming which sets a high initial price to maximize revenues from early adopters, and market penetration which sets a low initial price to attract a large number of customers quickly.
2) It also covers strategies for pricing a product mix, such as setting price steps between different products or optional accessories to maximize overall profits. Discounts and allowances are also discussed to incentivize customers or channel members.
3) Psychological pricing tactics are mentioned, where price is used as a signal for quality even when customers cannot directly assess it, through reference prices, odd pricing, or temporary promotional pricing. The challenges of creating "deal-prone" customers through
Pricing strategies
Short presentation on different pricing strategies. Formulas for break even and margin calculation. Pros and cons of different pricing strategies.
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This document outlines different pricing strategies and concepts discussed in a chapter on pricing from a marketing textbook. It covers new product pricing strategies like market skimming and market penetration pricing. It also discusses product mix pricing strategies, price adjustment strategies, factors to consider when changing prices, and public policy issues related to pricing. The overall topic is pricing strategies and concepts for marketing products and services.
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The document discusses pricing strategies, methods, and tactics. It provides an overview of how economists, accountants, customers, and marketers view price. Key factors that affect price are discussed such as costs, competition, demand, and objectives. Common pricing methods include market-based pricing using customer value and competitors' prices, and cost-based pricing using full costs, markups, and contributions. Pricing strategies aim to achieve objectives over the medium-long term and include skimming, penetration, leadership, and discrimination. Tactics are short term and include loss leaders, wars, and promotions. Demand elasticity measures responsiveness to price changes.
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This presentation introduces the term pricing and briefly explains different types of pricing techniques
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This document defines and explains several core marketing concepts. It discusses needs and wants, demand, target markets, positioning, segmentation, offerings, brands, value, satisfaction, marketing channels, supply chains, competition, and the marketing environment. The key concepts covered are the difference between needs and wants, how demands arise from wants, the purpose and types of target markets, positioning, and segmentation strategies, and how companies address customer needs through value propositions, offerings, and brands.
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The document discusses the product life cycle and marketing strategies at different stages. It defines the product life cycle as having 5 stages: development, introduction, growth, maturity, and decline. Each stage poses different challenges and opportunities for sellers. The strategies discussed include penetrating pricing in introduction, expanding distribution in growth, modifying products/markets/marketing in maturity, and harvesting/divesting in decline.
Pricing
This document discusses various pricing methods and strategies. It begins by defining price and listing factors that affect price decisions, both internal like costs and marketing objectives, and external like competitors' prices and market conditions. It then outlines the pricing process, which involves determining objectives, estimating demand and costs, analyzing competitors, selecting a pricing method, and adapting prices based on factors like location. The document provides details on various pricing methods like markup pricing, target return pricing, and perceived value pricing. It emphasizes that effective pricing requires considering multiple internal and external factors.
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This document discusses developing pricing strategies and programs. It begins with questions about how consumers evaluate prices and how companies should set and adapt prices. It then covers topics like how the internet has changed pricing, common pricing mistakes, consumer psychology around pricing, estimating costs, competitor price analysis, different pricing methods, selecting a final price, price discounts and changes, and how to respond to competitive pricing changes. The goal is to help companies determine the optimal ways to set, adjust, and manage their prices.
Marketing management mba ppt
This document discusses key concepts in marketing management including the changing role of marketing, the 4 Ps of marketing, and the components of an effective marketing plan. It explains that marketing has shifted from a focus on physical efficiency to selling and adoption of a marketing approach. The marketing plan involves analyzing the current market situation, identifying opportunities and issues, developing a marketing strategy, and implementing and controlling the plan. An effective marketing plan with a clear business purpose and objectives can help firms achieve higher returns.
Market targeting
The document discusses market targeting and the targeting process. It defines target market and explains that target market refers to the particular customer group selected by marketers. It outlines the steps in the targeting process as evaluating market segments, selecting segments, and additional considerations. It describes different strategies for selecting and targeting segments such as single segment concentration, selective specialization, product specialization, market specialization, and full market coverage. Finally, it discusses targeting strategies like undifferentiated, differentiation, and concentrated strategies.
Principles of Marketing - Pricing Strategies- Ch-11
This document provides an overview of various pricing strategies. It discusses market-skimming pricing and market-penetration pricing, which set high and low initial prices respectively. It also covers product mix pricing like optional and two-part pricing. Additional strategies include segmented pricing based on customers, locations, or time periods. Promotional pricing uses tactics like discounts, rebates, or bundles to temporarily lower prices. The document outlines risks and considerations for international, geographical, and dynamic pricing as well. It concludes with a discussion of public policy, ethical issues, and compliance relating to pricing practices.
Pricing Decisions
The document discusses pricing decisions and advertising. It covers the meaning of pricing, objectives of pricing like market penetration and skimming. Factors influencing pricing like costs, competition and economic conditions are examined. Methods of pricing such as cost-plus, target-profit and going-rate pricing are outlined. Advertising is defined and its characteristics like being paid communication and exposing prospects to messages are explained. Various advertising mediums like newspapers, magazines, radio, television and direct mail are also described.
pricing theory and procedure, pricing policies and practices
This document discusses various pricing theories and methods. It begins by defining price and exploring the relationship between supply and demand under perfect competition. It then examines pricing under different market structures - monopoly, oligopoly and monopolistic competition. It describes key characteristics of each market type. Finally, it outlines several common pricing methods used by firms, including cost-plus pricing, marginal cost pricing, target return pricing, and pricing strategies for new products like price skimming and penetration pricing.
Delivering value
1. Successful value delivery requires understanding the entire supply chain and distribution channels that connect suppliers, manufacturers, firms, and customers.
2. Goods and services reach the final consumer through marketing channels, which can include merchants, agents, facilitators, and various sales, delivery, and service channels.
3. Firms must make strategic decisions around channel design, including lot size, delivery time, product variety, and services provided to best meet customer needs and objectives while managing constraints.
International pricing of product
There are several types of international countertrade practices that allow companies to exchange goods and services without using cash, including barter, switch trading, counter-purchase, buyback, compensation trade, and offset agreements. These practices allow companies to expand exports, achieve mutually satisfactory outcomes, gain access to new markets, and diversify risks when foreign currency is limited. However, they also introduce complexity regarding working capital, pricing, and managing multiple commercial relationships. Governments may also engage in countertrade agreements to facilitate imports in key industries.
Pricing decisions
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This chapter discusses developing and applying pricing strategies. It presents frameworks for setting objectives and policies. It analyzes different pricing approaches like cost-based, demand-based, and competition-based. It also covers implementing strategies, like bundling prices, and adjusting prices over time. The goal is to help firms set prices that maximize sales and profits based on costs, demand, and competitors.
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Pricing Decisions & Strategies
Pricing is a strategic issue that affects other elements of the marketing mix like product features, distribution channels, and promotion. There are several steps to pricing a product, including analyzing costs and demand, setting pricing objectives like profit or revenue maximization, and determining the actual price using factors like costs, demand, and environmental considerations. Common pricing objectives include current profit maximization, current revenue maximization, maximizing quantity sold, and maximizing profit margins. Pricing methods include cost-plus pricing, target return pricing, and value-based pricing. Price discounts are also used to influence demand and include quantity, seasonal, cash, trade, and promotional discounts.
Advertising and sales promotion
The document discusses advertising and sales promotion. It defines advertising as attempting to influence customers through paid announcements. The goal of advertising is to attract new customers by defining the target market and reaching out to them effectively. Sales promotion aims to boost short-term sales through incentives and added value to consumers, wholesalers, or retailers. Some objectives of both advertising and sales promotion include introducing new products, attracting customers, and increasing or stimulating sales.
Pricing strategies
This document discusses various pricing strategies that companies can employ. It outlines strategies for new product pricing such as market skimming and market penetration pricing. It also discusses product mix pricing strategies including product line, optional product, captive product, by-product, and product bundle pricing. Additionally, it covers price adjustment strategies like discounts, segmented pricing, psychological pricing, promotional pricing, geographical pricing, dynamic pricing, and international pricing. The strategies provide options for companies to set prices for new and existing products in different markets and customer segments.
11. pricing products pricing considerations and strategies
1) The document discusses various pricing strategies for new products, including market skimming which sets a high initial price to maximize revenues from early adopters, and market penetration which sets a low initial price to attract a large number of customers quickly.
2) It also covers strategies for pricing a product mix, such as setting price steps between different products or optional accessories to maximize overall profits. Discounts and allowances are also discussed to incentivize customers or channel members.
3) Psychological pricing tactics are mentioned, where price is used as a signal for quality even when customers cannot directly assess it, through reference prices, odd pricing, or temporary promotional pricing. The challenges of creating "deal-prone" customers through
Pricing strategies
Short presentation on different pricing strategies. Formulas for break even and margin calculation. Pros and cons of different pricing strategies.
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This document outlines different pricing strategies and concepts discussed in a chapter on pricing from a marketing textbook. It covers new product pricing strategies like market skimming and market penetration pricing. It also discusses product mix pricing strategies, price adjustment strategies, factors to consider when changing prices, and public policy issues related to pricing. The overall topic is pricing strategies and concepts for marketing products and services.
Marketing - Pricing
The document discusses pricing strategies, methods, and tactics. It provides an overview of how economists, accountants, customers, and marketers view price. Key factors that affect price are discussed such as costs, competition, demand, and objectives. Common pricing methods include market-based pricing using customer value and competitors' prices, and cost-based pricing using full costs, markups, and contributions. Pricing strategies aim to achieve objectives over the medium-long term and include skimming, penetration, leadership, and discrimination. Tactics are short term and include loss leaders, wars, and promotions. Demand elasticity measures responsiveness to price changes.
Pricing by Philiph Kotler
Pricing by Philiph Kotler chapter 10, if u need any type of slide just message me,plz follow me for latest update.
Just "Follow Me"
Pricing
This presentation introduces the term pricing and briefly explains different types of pricing techniques
Core marketing concepts
This document defines and explains several core marketing concepts. It discusses needs and wants, demand, target markets, positioning, segmentation, offerings, brands, value, satisfaction, marketing channels, supply chains, competition, and the marketing environment. The key concepts covered are the difference between needs and wants, how demands arise from wants, the purpose and types of target markets, positioning, and segmentation strategies, and how companies address customer needs through value propositions, offerings, and brands.
Product life cycle & marketing strategies
The document discusses the product life cycle and marketing strategies at different stages. It defines the product life cycle as having 5 stages: development, introduction, growth, maturity, and decline. Each stage poses different challenges and opportunities for sellers. The strategies discussed include penetrating pricing in introduction, expanding distribution in growth, modifying products/markets/marketing in maturity, and harvesting/divesting in decline.
Pricing
This document discusses various pricing methods and strategies. It begins by defining price and listing factors that affect price decisions, both internal like costs and marketing objectives, and external like competitors' prices and market conditions. It then outlines the pricing process, which involves determining objectives, estimating demand and costs, analyzing competitors, selecting a pricing method, and adapting prices based on factors like location. The document provides details on various pricing methods like markup pricing, target return pricing, and perceived value pricing. It emphasizes that effective pricing requires considering multiple internal and external factors.
Kotler developing pricing strategies and programs
This document discusses developing pricing strategies and programs. It begins with questions about how consumers evaluate prices and how companies should set and adapt prices. It then covers topics like how the internet has changed pricing, common pricing mistakes, consumer psychology around pricing, estimating costs, competitor price analysis, different pricing methods, selecting a final price, price discounts and changes, and how to respond to competitive pricing changes. The goal is to help companies determine the optimal ways to set, adjust, and manage their prices.
Marketing management mba ppt
This document discusses key concepts in marketing management including the changing role of marketing, the 4 Ps of marketing, and the components of an effective marketing plan. It explains that marketing has shifted from a focus on physical efficiency to selling and adoption of a marketing approach. The marketing plan involves analyzing the current market situation, identifying opportunities and issues, developing a marketing strategy, and implementing and controlling the plan. An effective marketing plan with a clear business purpose and objectives can help firms achieve higher returns.
Market targeting
The document discusses market targeting and the targeting process. It defines target market and explains that target market refers to the particular customer group selected by marketers. It outlines the steps in the targeting process as evaluating market segments, selecting segments, and additional considerations. It describes different strategies for selecting and targeting segments such as single segment concentration, selective specialization, product specialization, market specialization, and full market coverage. Finally, it discusses targeting strategies like undifferentiated, differentiation, and concentrated strategies.
Principles of Marketing - Pricing Strategies- Ch-11
This document provides an overview of various pricing strategies. It discusses market-skimming pricing and market-penetration pricing, which set high and low initial prices respectively. It also covers product mix pricing like optional and two-part pricing. Additional strategies include segmented pricing based on customers, locations, or time periods. Promotional pricing uses tactics like discounts, rebates, or bundles to temporarily lower prices. The document outlines risks and considerations for international, geographical, and dynamic pricing as well. It concludes with a discussion of public policy, ethical issues, and compliance relating to pricing practices.
Pricing Decisions
The document discusses pricing decisions and advertising. It covers the meaning of pricing, objectives of pricing like market penetration and skimming. Factors influencing pricing like costs, competition and economic conditions are examined. Methods of pricing such as cost-plus, target-profit and going-rate pricing are outlined. Advertising is defined and its characteristics like being paid communication and exposing prospects to messages are explained. Various advertising mediums like newspapers, magazines, radio, television and direct mail are also described.
pricing theory and procedure, pricing policies and practices
This document discusses various pricing theories and methods. It begins by defining price and exploring the relationship between supply and demand under perfect competition. It then examines pricing under different market structures - monopoly, oligopoly and monopolistic competition. It describes key characteristics of each market type. Finally, it outlines several common pricing methods used by firms, including cost-plus pricing, marginal cost pricing, target return pricing, and pricing strategies for new products like price skimming and penetration pricing.
Delivering value
1. Successful value delivery requires understanding the entire supply chain and distribution channels that connect suppliers, manufacturers, firms, and customers.
2. Goods and services reach the final consumer through marketing channels, which can include merchants, agents, facilitators, and various sales, delivery, and service channels.
3. Firms must make strategic decisions around channel design, including lot size, delivery time, product variety, and services provided to best meet customer needs and objectives while managing constraints.
International pricing of product
There are several types of international countertrade practices that allow companies to exchange goods and services without using cash, including barter, switch trading, counter-purchase, buyback, compensation trade, and offset agreements. These practices allow companies to expand exports, achieve mutually satisfactory outcomes, gain access to new markets, and diversify risks when foreign currency is limited. However, they also introduce complexity regarding working capital, pricing, and managing multiple commercial relationships. Governments may also engage in countertrade agreements to facilitate imports in key industries.
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11. pricing products pricing considerations and strategies
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The document discusses various factors and strategies for pricing a product. It describes customer perceived value, value-based pricing versus cost-based pricing, product costs, pricing strategies such as market skimming and market penetration pricing, product mix pricing strategies, price adjustment strategies including discounts, segmented pricing, and promotional pricing. Psychological pricing strategies are also examined, including reference prices.
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Price is the only element of the marketing mix that generates revenue. There are several stages to establishing prices, beginning with selecting a pricing objective and determining customer demand and costs. Common pricing strategies include cost-based pricing, competition-based pricing, differential pricing for different customer segments, and promotional pricing to temporarily reduce prices. The specific final price is determined based on the pricing objective, customer perceptions of value, demand analysis, and consideration of costs and competitive factors.
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The document discusses factors to consider when setting prices, including customer perceptions of value, company and product costs, and other internal and external considerations. It explains that price is determined by balancing customer willingness to pay based on perceived value against company costs. Key factors discussed include value-based pricing, cost-based pricing, fixed vs variable costs, demand curves, price elasticity, and competitor strategies. The goal of pricing is to maximize revenue within these constraints.
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The document discusses factors to consider when setting prices, including customer perceptions of value, company and product costs, and other internal and external considerations. It explains that price is determined by balancing customer willingness to pay based on perceived value against company costs. Key factors discussed include value-based versus cost-based pricing, fixed versus variable costs, demand curves, price elasticity, and competitor strategies.
kotler_pom16e_inppt_10 &11 Pricing.pptx
This document discusses various pricing strategies and considerations for setting prices, including:
1) Cost-based pricing which sets prices based on costs plus profit margin, and value-based pricing which sets prices based on customer perceptions of value.
2) Other pricing strategies like competition-based pricing, market-skimming for new products, and segmented pricing which charges different prices to different customer groups.
3) Ways to adjust prices like discounts, promotions, and geographical price variations based on location of customers.
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The document discusses factors to consider when setting prices, including customer perceptions of value, company and product costs, and other internal and external considerations. It explains that price is determined by balancing how much value customers see in a product and the costs associated with producing it. Pricing strategies discussed include value-based pricing, cost-based pricing, everyday low pricing, and competitor-based pricing. The document emphasizes understanding customer demand and considering factors like price elasticity, competition, and organizational influences when determining price.
2011.10 marketing principles
This document discusses pricing concepts and factors to consider when setting prices. It defines price as the amount of money charged for a product or service, which is the sum of all values consumers give up to gain the product's benefits. When setting prices, companies must consider customer perceptions of value, costs, and other internal/external factors. Customer perceptions set the upper price limit while costs determine the lower limit. Demand, competition, price elasticity also impact pricing decisions.
it a ppt about pricing of products, a ne
* Fixed Costs = Rs. 100,000
* Selling Price per unit = Rs. 4
* Variable Costs per unit = Rs. 2
* Required Profit = Rs. 50,000
* Break Even Point (in Units) = Fixed Costs / (Selling Price per unit - Variable Costs per unit)
= Rs. 100,000 / (Rs. 4 - Rs. 2)
= Rs. 100,000 / Rs. 2
= 50,000 units
* Break Even Price = Fixed Costs + Variable Costs / Quantity
= Rs. 100,000 + Rs. 2 * 50,000
= Rs. 100,000 + Rs. 1,00,000
M10 L5 Pricing Policies and Strategies
The document outlines various steps and strategies for setting prices, including:
1) Determining pricing objectives, studying costs and demand, and monitoring competitors' prices.
2) Common pricing strategies are cost-oriented pricing, demand-oriented pricing, and competition-oriented pricing.
3) Specific pricing techniques include promotional pricing, variable pricing, price lining, and psychological pricing.
2011.11 marketing principles
This document outlines various pricing strategies and concepts for products. It discusses new product pricing strategies like market skimming and market penetration pricing. It also covers product mix pricing strategies that take into account different products and bundles. Additionally, it outlines various price adjustment strategies including discounts, segmented pricing, and geographical pricing. Finally, it discusses factors around initiating price changes and responding to competitors' price changes, as well as public policy considerations related to pricing.
Pricce Adjustment strategies Presentation
This document discusses various price adjustment strategies used by companies. It describes different types of discounts and allowances given to customers including cash discounts, quantity discounts, and promotional allowances. It also discusses segment pricing where different prices are charged to different customer segments based on factors like customer type, product form, location, or time. Other strategies covered include psychological pricing, promotional pricing, value pricing, and geographic pricing for domestic and international markets.
Pricing techniques
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.
Pricing
A manager must consider many factors when setting a price, including demand, customer perceptions, costs, competition, and the company's image. There are different pricing strategies such as cost-plus, target return, break-even, and competition-oriented pricing. The price set can affect buyers' perceptions and competitors' reactions.
Pricing
The document discusses various pricing strategies and considerations for setting prices, including objectives like profit maximization and brand image enhancement. It covers factors that affect pricing like costs, demand, competition, and customer characteristics. Different pricing approaches are outlined such as cost-based pricing, product-line pricing, new product introduction strategies like skimming and penetration pricing, and general strategies for adjusting prices.
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The long term plan the retailers make in order to achieve their objective is called retail strategy.
Internationalization process
This document discusses the stages of internationalization that companies go through as they expand globally. It begins by outlining several drivers of corporate internationalization including cost drivers, government drivers, competitive drivers, and market drivers. It then describes 5 stages of internationalization that companies typically progress through: 1) Domestic Company, 2) International Company, 3) Multinational Company, 4) Global Company, and 5) Transnational Company. For each stage, it provides details on the company's strategy, view of world markets, orientation, key assets, and the role of country units. It concludes by summarizing the differences between each stage in a chart.
EPRG Orientation
Douglas Wind and Pelmutter advocated four approaches to international business: the ethnocentric approach, polycentric approach, regiocentric approach, and geocentric approach. The ethnocentric approach involves exporting the same products designed for the domestic market to foreign countries. The polycentric approach decentralizes decision-making to foreign executives. The regiocentric approach markets similar products designed for a region to neighboring countries. The geocentric approach operates subsidiaries globally as independent companies coordinated by the headquarters.
International Business Environment- Domestic, Foreign & Global Environment
The document discusses the influence of domestic, foreign, and global environments on international business. It identifies controllable variables such as finance, production, human resources, and marketing. It also identifies uncontrollable variables including the domestic environment, foreign environment, and global environment. The global environment encompasses factors like the international economic environment, regional economic groups and agreements, and international financial institutions. Understanding the business environments is important for businesses to determine market potential, how to enter foreign markets, production scale, labor deployment, financing operations, marketing strategies, and compensation.
Market Environment Analysis
This document provides an overview of tools for analyzing a company's marketing environment, including SWOT analysis and Porter's Five Forces model. SWOT analysis involves examining a company's strengths, weaknesses, opportunities, and threats. Porter's Five Forces model analyzes the bargaining power of buyers and suppliers, threat of substitutes, threat of new entrants, and rivalry among existing competitors. The document was created by an assistant professor to provide guidance on marketing environment analysis.
Retail strategy
The overall the retailing plan needed to operate the store efficiently and effectively is called Retail Strategy.
Retail formats
This document discusses various retail formats categorized by ownership. It identifies the main ownership models as independent stores, chain stores, franchising, leased department stores, vertical marketing systems, and consumer cooperatives. Independent stores are owned and operated by a single retailer, while chain stores have two or more outlets owned under joint control. Franchising involves a contractual agreement where a franchisee pays fees to a franchiser in exchange for using their brand name and operating format. Leased department stores involve renting space within a larger store. Vertical marketing systems integrate manufacturers, wholesalers, and retailers to facilitate product flow. Consumer cooperatives are owned by their customers.
Retail formats part 3
This document discusses different types of retail formats, dividing them into store-based retailing and non-store-based retailing. Some examples of non-store-based retailing discussed are direct marketing, which involves exposing customers to goods through non-personal media and allowing them to order by mail, phone or online; direct selling, which involves personal contact with customers in their homes; and vending machines, which allow 24-hour automated sales without sales personnel. The document also briefly outlines other non-traditional retail formats such as electronic retailing (e-commerce), mobile van retailing, video kiosks, event retailing, trade parks, and forecourt retailing at gas stations.
Retail formats part 2
This document discusses different store-based retail formats. It identifies convenience stores, supermarkets, food-based superstores, and limited-line stores as food-based retailers. For general merchandise retailers it outlines specialty stores, full-line discount stores, factory outlets, membership clubs, flea markets, off-price chains, and traditional department stores. The document provides brief descriptions of each retail format's characteristics including store size, product assortments, pricing, and target customers.
Retail formats
The document discusses various retail formats categorized by ownership. Independent stores are owned by a single retailer, while chain stores have two or more outlets owned under joint control. Franchising involves a contractual agreement where a franchisee pays fees to the franchiser in exchange for using their brand name and operating format. Leased department stores section off areas of a larger store to outside retailers paying monthly rent. Vertical marketing systems integrate manufacturers, wholesalers, and retailers to different degrees to facilitate product flow from creation to consumer. Formats provide options for retailers based on their resources and target markets.
Rural Consumer Behaviour
This document discusses rural consumers in India. It provides information on the profile of rural consumers, including their low literacy and income levels, scattered population across many villages, and principal occupations in farming and trades. It describes the types of rural consumers as household consumers, rural industrial users, and rural resellers. It also outlines different groups of rural consumers based on their buying behavior, such as habitual, cognitive, emotional, and impulsive groups. Finally, it briefly discusses factors that influence rural consumer behavior, including stimuli, perception, attitudes, needs, demographics, culture, and social influences.
Rural vs. urban marketing
The document compares rural and urban marketing in India, noting key differences in their philosophies, buyer motivations, marketing objectives, mix, research methods, technologies used, and development strategies. Rural marketing focuses on inclusive growth and uses simple research methods, while urban marketing emphasizes fashion, lifestyle, and sophisticated research. The marketing mix also differs, with rural using the basic 4 P's and urban utilizing an expanded 7 P's approach.
The Rural Environment
The document discusses the rural environment and is divided into several sections. It covers the demographic environment including changes in rural population, family structures, age, education, and occupation. The physical environment discusses rural settlements and housing patterns. The socio-cultural environment examines socio-cultural regions, village communities, and the caste system. The political environment analyzes panchayati raj institutions and gram sabhas. The technological environment addresses rapid mechanization and the growth of information and communication technology. Finally, the rural economic environment describes the transitioning rural economy, economic structure, rural enterprises, income disparity, and spending.
Evolution of Rural marketing
This document outlines the evolution of rural marketing in India through four phases:
Phase I (prior to 1960) consisted of agricultural marketing and exchanges of crafts and utensils; Phase II (1960-1980) saw the entry of consumer goods companies and changes in rural demand due to the Green Revolution; Phase III (1990-2000) included new service sectors, pro-rural government initiatives, and companies launching rural-focused products; Phase IV (after 2000) featured financial inclusion, media expansion, hiring of rural staff, and improved standards of living through various government programs.
Introduction to Rural marketing
This document provides an overview of rural marketing in India. It defines rural marketing as developing, pricing, promoting, and distributing rural-specific goods and services to satisfy consumer demand in rural areas. Some key points:
- Rural markets have consumers located in rural areas with different behaviors than urban consumers. Transactions can be rural-to-urban or urban-to-rural.
- Rural marketing focuses more on development than transactions, customer satisfaction, and increasing living standards through a mutually beneficial process.
- Rural markets are large and diverse but scattered, with low incomes mainly from agriculture. They face challenges like high distribution costs, seasonal demand, and lack of infrastructure.
Advertsing budget
The document discusses advertising budgets, which estimate the financial requirements to achieve advertising objectives within a given time period. The budget is a guideline for allocating funds to advertising functions and activities. Key factors that influence the budget include available finances, sales percentages, competitors' spending, and return on investment. The budget specifies income, expenses, and how funds will be allocated. It must be constructed within the company's financial capabilities. The budget process involves estimating total advertising costs based on market information, then appropriating funds and specifying expenditures for each advertising function. The budget is presented to management for review and modification before execution and control to ensure actual spending matches estimates. Various methods can be used to allocate the budget, such as percentages of sales or objectives
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International Business Environment- Domestic, Foreign & Global Environment
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In the current market landscape, establishing genuine connections with consumers is crucial. This presentation, "Empowering Influencers: The New Center of Brand-Consumer Dynamics," explores how influencers have become pivotal in shaping brand-consumer relationships. We will examine the strategic use of influencers to create authentic, engaging narratives that resonate deeply with target audiences, driving success in the evolved purchase funnel.在线办理(英国UWS毕业证书)西苏格兰大学毕业证学位证一模一样
学校原件一模一样【微信：741003700 】《(英国UWS毕业证书)西苏格兰大学毕业证学位证》【微信：741003700 】学位证，留信认证（真实可查，永久存档）原件一模一样纸张工艺/offer、雅思、外壳等材料/诚信可靠,可直接看成品样本，帮您解决无法毕业带来的各种难题！外壳，原版制作，诚信可靠，可直接看成品样本。行业标杆！精益求精，诚心合作，真诚制作！多年品质 ,按需精细制作，24小时接单,全套进口原装设备。十五年致力于帮助留学生解决难题，包您满意。
本公司拥有海外各大学样板无数，能完美还原。
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四.办理各国各大学文凭(一对一专业服务,可全程监控跟踪进度)
如果您处于以下几种情况：
◇在校期间，因各种原因未能顺利毕业……拿不到官方毕业证【q/微741003700】
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◇申请留学生创业基金
留信网认证的作用:
1:该专业认证可证明留学生真实身份
2:同时对留学生所学专业登记给予评定
3:国家专业人才认证中心颁发入库证书
4:这个认证书并且可以归档倒地方
5:凡事获得留信网入网的信息将会逐步更新到个人身份内，将在公安局网内查询个人身份证信息后，同步读取人才网入库信息
6:个人职称评审加20分
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Luxury Hanloom Saree Brand ,Capstone Project_Kiran Bansal.pdf
Capstone Project: Luxury Handloom Saree Brand
As part of my college project, I applied my learning in brand strategy to create a comprehensive project for a luxury handloom saree brand. Key aspects of this project included:
- *Competitor Analysis:* Conducted in-depth competitor analysis to identify market position and differentiation opportunities.
- *Target Audience:* Defined and segmented the target audience to tailor brand messages effectively.
- *Brand Strategy:* Developed a detailed brand strategy to enhance market presence and appeal.
- *Brand Perception:* Analyzed and shaped the brand perception to align with luxury and heritage values.
- *Brand Ladder:* Created a brand ladder to outline the brand's core values, benefits, and attributes.
- *Brand Architecture:* Established a cohesive brand architecture to ensure consistency across all brand touchpoints.
This project helped me gain practical experience in brand strategy, from research and analysis to strategic planning and implementation.
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In this blog, we delve deep into the top 10 reasons why businesses ditch SEO tactics, uncovering the pain points that may resonate with you:
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2. Lack of Results: Investing time and resources without seeing tangible results can be disheartening. The absence of immediate results often leads businesses to lose faith in their SEO strategies. It's important to remember that SEO is a long-term game that requires patience and consistent effort.
3. Technical Challenges: From site speed issues to complex metadata implementation, technical hurdles can be daunting. Overcoming these challenges is crucial for SEO success, as technical issues can hinder your website's performance and user experience.
4. Keyword Competition: Fierce competition for top keywords can make it hard to rank effectively. Businesses often struggle to find the right balance between targeting high-traffic keywords and finding less competitive, niche keywords that can still drive significant traffic.
5. Lack of Understanding of SEO Basics: Many businesses dive into the complex world of SEO without fully grasping the fundamental principles. This lack of understanding can lead to several issues:
Keyword Awareness: Failing to recognize the importance of keyword research and targeting the right keywords in content.
On-Page Optimization: Ignorance regarding crucial on-page elements such as meta tags, headers, and content structure.
Technical SEO Best Practices: Overlooking essential aspects like site speed, mobile responsiveness, and crawlability.
Backlinks: Not understanding the value of high-quality backlinks from reputable sources.
Analytics: Failing to track and analyze data prevents businesses from optimizing their SEO efforts effectively.
6. Unrealistic Expectations and Timeframe: Entrepreneurs often fall prey to the allure of quick fixes and overnight success. Unrealistic expectations can overshadow the reality of the time and effort needed to see tangible results in the highly competitive digital landscape. SEO is a long-term strategy, and setting realistic goals is crucial for success.
#SEO #DigitalMarketing #BusinessGrowth #OnlineVisibility #SEOChallenges #BostonSEO
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How Consumers Use Technology And Its Impact On Their Lives
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Supercars use advanced materials and tech for top-speed performance. Join Performance Car Exclusive to experience driving excellence.
https://instblast.com/instagram/free-instagram-views
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Design an eye-catching and inviting booth
Incorporate interactive elements that engage visitors
Use effective branding and visuals to reinforce your message
Plan your booth layout for maximum traffic flow
Implement technology to enhance the visitor experience
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Advanced Storytelling Concepts for Marketers
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Basic Management Concepts., “Management is the art of getting things done thr...
The managers achieve organizational objectives by getting work from
others and not performing in the tasks themselves.
Management is an art and science of getting work done through people.
It is the process of giving direction and controlling the various activities
of the people to achieve the objectives of an organization Management is a universal process in all organized, social and economic activities. Wherever
there is human activity there is management.
Management is a vital aspect of the economic life of man, which is an organized group activity. A
central directing and controlling agency is indispensable for a business concern. The productive
resources –material, labour, capital etc. are entrusted to the organizing skill, administrative ability
and enterprising initiative of the management. Thus, management provides leadership to a
business enterprise. Without able managers and effective managerial leadership the resources of
production remain merely resources and never become production. Management occupies such an
important place in the modern world that the welfare of the people and the destiny of the country
are very much influenced by it.
1.2 MEANING OF MANAGEMENT
Management is a technique of extracting work from others in an integrated and co-ordinated
manner for realizing the specific objectives through productive use of material resources.
Mobilising the physical, human and financial resources and planning their utilization for business
operations in such a manner as to reach the defined goals can be benefited to as management.
1.3 DEFINITION OF MANAGEMENT
Management may be defined in many different ways. Many eminent authors on the subject have
defined the term "management". Some of these definitions are reproduced below:
In the words of George R Terry - "Management is a distinct process consisting of planning,
organising, actuating and controlling performed to determine and accomplish the objectives by the
use of people and resources".
According to James L Lundy - "Management is principally the task of planning, co¬ordinating,
motivating and controlling the efforts of others towards a specific objective",
In the words of Henry Fayol - "To manage is to forecast and to plan, to organise, to command, to
co-ordinate and to control".
According to Peter F Drucker - "Management is a multipurpose organ that manages a business and
manages managers and manages worker and work".
In the words of J.N. Schulze - "Management is the force which leads, guides and directs an
organisation in the accomplishment of a pre-determined object".
In the words of Koontz and O'Donnel - "Management is defined as the creation and maintenance
of an internal environment in an enterprise where individuals working together in groups can
perform efficiently and effectively towards the attainment of group goals".
According to Ordway Tead - "Management is the process and agency which directs and guides the
operations of an organisation in realising of established aim
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Pricing decision
- 2. PRICE Price is the amount of money charged for a product or a service. Price is the sum of all the values that customers give up to gain the benefits of having or using a product or service.
- 3. OBJECTIVES OF PRICING Profit maximisation Market share Prevent Competition Targeted return on investment Price stabilisation Speed up cash collection Prestige & Goodwill Survival & Growth Achieving product –quality leadership
- 4. Factors Affecting Pricing decision INTERNAL FACTORS Organisational factors Cost Marketing mix Product differentiation Objective of the firm Product life cycle Characteristics of the product EXTERNAL FACTORS Demand Competition Government Policies General Economic conditions Distribution channel Reaction of consumers
- 6. Cost –Based pricing Setting price on the basis of total cost per unit Cost plus pricing Target pricing Marginal cost pricing Break-even analysis and Target Profit Pricing
- 7. Cost plus pricing Developed by HALL & MITCH the price is computed by adding a certain percentage to the cost of the product per unit. This method is also known as margin pricing or average cost pricing or full cost pricing or mark up pricing Price = full average cost of production AVC (Average Variable Cost) +AFC (Average Fixed Cost)+ margin of normal profit. Target pricing Variant of full cost pricing. Under this method, the cost is added with the predetermined target rate of return on capital invested. The company estimates future sales, future cost and calculates a targeted rate of return on capital invested. This is also called rate of return pricing.
- 8. Marginal cost pricing Under both full cost pricing and rate of return pricing, the prices are set on the basis of total cost (variable cost + fixed cost). In this method, fixed costs are totally excluded and pricing are set on the marginal cost Break-even analysis and Target Profit Pricing In this the firm tries to determine the price at which it will break- even or make the target profit it is seeking.
- 9. Demand – based Pricing Differential pricing The same product is sold at different prices to different customers, in different places, and at different periods. This method is called discriminatory pricing or price discrimination Modified break- even analysis Under this method, prices are fixed to achieve highest profit over the Break-Even Point (BEP) in consideration of the amount demanded at alternative prices. i.e. A price-quantity mix that maximizes total profit. Neutral pricing It means offering extra value or benefits with the brand cost or price remaining competitive
- 10. Competition-based Pricing Going rate pricing • prices are maintained at par with the average level of prices in the industry, i.e., under this method a firm charges the prices according to what competitors are charging. Firms accept the price prevailing in the industry in order to avoid price war Customary pricing • prices get fixed because they have prevailed over a long period of time Examples, the price of cup of tea or coffee. In short the prices are fixed by custom. The price will change only when the cost changessignificantly. It is also called conventional pricing Sealed bid pricing • The firm fixes its prices on how the competitor’s price their products. It means that if the firm is to win a contract or job, it should quote less than the competitors. A bid price is the highest price that a buyer tie bidder) is willing to pay for any goods. Followed in B2B pricing
- 11. Value-based Pricing • Thus perceived value pricing is concerned with setting the price on the basis of value perceived by the buyer of the product rather than the seller's cost. Perceived value pricing • price is based on the value which the consumers get from the product they buy. It is used as a complete marketing strategy Value for money pricing
- 12. THANK YOU !!!