Pricing method & strategy
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This document presents information on pricing strategies and methods. It discusses key concepts like price, pricing objectives, factors affecting pricing, and various pricing methods including cost-oriented pricing, demand-oriented pricing, competition-oriented pricing, and value-based pricing. It also outlines different pricing strategies such as penetration pricing, prestige pricing, leader pricing, geographical pricing, and skimming pricing. The conclusion emphasizes that pricing is important for generating revenue and profit, and that selecting the correct price is vital to business success.
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The document discusses five approaches to setting price objectives for non-profit organizations: surplus maximization, cost recovery, market size maximization, social equity, and market disincentivization. It provides details on each approach, including pros and cons. For example, cost recovery focuses on covering operating costs but can hinder expansion. Market size maximization sets low prices to attract more customers but risks customers perceiving the product as low quality. The document also discusses "a la carte" pricing and provides examples of how the SPCA of Wake County could implement various forms of a la carte pricing for their services and programs.
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Vertical channel conflict occurs between members of the same distribution channel, such as a manufacturer and retailer. Horizontal channel conflict occurs between competitors at the same level of the distribution channel, such as between two retailers selling competing products. Channel conflict arises due to goal incompatibility, unclear roles and rights, differences in perceptions, and intermediaries' dependence on manufacturers. It can be managed through adopting superordinate goals, exchanging employees, co-optation, and using mediation, negotiation, or legal means.
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Retailers face increasing challenges related to pricing including high consumer price sensitivity, aggressive competitive pricing, and the need to maintain brand image. Many retailers still believe they can win on price alone, though top performers focus more on brand protection. Gathering competitive price data remains a challenge, with over half of respondents still relying on manual processes. Emerging technologies that provide automated competitive price intelligence are helping address this challenge and better enable retailers to implement effective pricing strategies across all sales channels in today's omni-channel environment.
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The document discusses five approaches to setting price objectives for non-profit organizations: surplus maximization, cost recovery, market size maximization, social equity, and market disincentivization. It provides details on each approach, including pros and cons. For example, cost recovery focuses on covering operating costs but can hinder expansion. Market size maximization sets low prices to attract more customers but risks customers perceiving the product as low quality. The document also discusses "a la carte" pricing and provides examples of how the SPCA of Wake County could implement various forms of a la carte pricing for their services and programs.
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Surveys a number of essential issues related to pricing and public policy in market economies. Begins with a brief review of the price-determination process in competitive markets, then examines a range of topics involving pricing and public policy in monopoly and oligopoly markets. Includes a number of graphs that illustrate the relationship between costs, demand, price, efficiency, and profitability under various market conditions.
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There are internal and external factors that determine price. Internal factors include marketing objectives, costs, and organizational considerations. External factors include market demand, competition, economic conditions, and government actions. When setting price, companies consider costs, value to customers, competition, and promotional strategies. The optimal pricing strategy depends on the product, market conditions, and business objectives.
Factors Affecting Price
The document describes different types of market structures: perfect competition where many buyers and sellers transact standardized products at a single market price; monopoly where a single seller dominates the market and can set a profit-maximizing price; monopolistic competition where many firms offer similar but differentiated products giving them some monopolistic power; and oligopoly where a small number of large firms control the market and can influence prices. It also mentions factors like costs of production, customer demand in response to price, distribution costs, and existing market competition that influence business pricing and promotion decisions.
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Companies must consider laws governing fair pricing practices when setting prices. These laws address issues like price fixing, predatory pricing, and unfair discrimination within and across distribution channels. Price fixing involves competitors agreeing on prices, while predatory pricing undercuts rivals. Unfair discrimination occurs when sellers charge different prices to similar customers. Laws also regulate requiring retail prices and deceptive advertising of price savings.
9 Reasons why manufacturers should sell online and how to avoid channel conflict
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Connect with me on Linkedin: www.linkedin.com/in/olafjonsek/
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This document discusses channel design, channel conflict, and channel management decisions. It covers key topics such as the dimensions that influence channel design like market, product, company, and environmental factors. It also defines types of channel conflict including vertical, horizontal, inter-type, and multi-channel conflicts. Finally, it outlines major decision areas in channel management like selecting, training, and evaluating channel members and factors that influence channel management decisions.
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How should a company set prices initially for products or services?
A company must set an initial price for new products or when entering new markets. There is a 5-step process: 1) Select a pricing objective like survival, maximum profit, or market share. 2) Determine demand through price sensitivity and demand curves. 3) Estimate costs like fixed, variable, and average costs. 4) Analyze competitors' prices and offers. 5) Select a pricing method like markup or target-return pricing and consider costs, competition, and customer value to set the final price. The main strategies are selecting the objective, determining demand, estimating costs, analyzing competition, selecting a method, and setting the final price.
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This document discusses pricing strategies and considerations. It covers:
1) Assessing customer value perceptions and price sensitivities using methods like economic value analysis and conjoint analysis.
2) Identifying optimal pricing structures like quantity discounts, bundle pricing, and mixed bundling.
3) Considering competitive reactions and using techniques like price signaling, asymmetric pricing, and game theory.
4) Monitoring transaction prices and assessing customer emotional responses to pricing like reference prices and perceptions of fairness.
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The document discusses the challenges companies face with pricing as the number of brands, channels, and customer segments have exploded. It has led to hundreds of thousands or millions of individual price points that are difficult to manage consistently. The proliferation has also driven companies to create more stock keeping units (SKUs) to try and limit conflicts between channels and reach more customer segments. However, this has made pricing more complex to manage. The document recommends companies create greater visibility into pricing performance, have a common pricing system across brands and channels, and establish a central pricing group to help integrate pricing while allowing some decentralized decision making.
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The document discusses value pricing and reducing list prices for P&G products. It analyzes profit margins for LDL (26.5%) and Coffee (6.5%) and determines LDL's price can be reduced while Coffee needs cost reductions. A 11% price reduction is calculated. Risks of frequent price changes include reduced topline, retailer compromise, and customer frustration/brand dilution. The approach for LDL should be price reduction while Coffee focuses on cost cuts.
Monopolistic Competition
Monopolistic competition is a market structure with many small businesses that sell similar but differentiated products. While firms have some control over pricing, they face significant competition and low profit margins due to the elastic demand curve and ease of market entry. To be successful, businesses must focus on cost efficiency, advertising, and differentiating their unique product offerings from competitors.
Ad war
This document discusses advertising wars, which are comparative advertisements that mention competitors by name to show superiority. The key points covered are:
- Advertising wars compare products on measurable attributes to identify competitors and convince consumers of a brand's superiority.
- Notable advertising wars in history include Pepsi vs Coca-Cola and Complan vs Horlicks.
- While advertising wars can increase transparency and competition, they also risk consumer confusion if comparisons are incomplete or inaccurate.
Regulations in India allow comparative ads if aspects compared are clear, no artificial advantages are conferred, and competing products are not unfairly denigrated. Both benefits and risks of advertising wars are discussed.
Pricing Theories
This presentation includes notes collected from various sources from internet during my study journey with regard to the topic Pricing Theory
Factors affecting pricing
Fixed and variable costs, competition, opportunity cost, demand, and supply all affect pricing. Direct competition refers to businesses selling similar products, while indirect competition sells dissimilar products. Price competition uses price to attract customers, while non-price competition uses other factors. Demand depends on factors like utility, price, advertising, fashion, and consumer needs/wants. Supply is affected by costs of production, price, demand, profit goals, competition, and technology. Elasticity of demand, economic conditions, regulations, distribution channels, and company objectives also impact price.
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Monopolistic competition is an imperfect market structure with many firms, differentiated products, and free entry and exit. Each firm faces a downward-sloping demand curve and charges a price above marginal cost, resulting in excess capacity and markup over marginal cost. While product variety benefits consumers, monopolistic competition also results in deadweight loss and potentially an inefficient number of firms. Firms use advertising and brand names both to inform consumers and potentially manipulate them.
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Michael Porter introduced the Porter's Five Forces framework in 1979 to analyze industry competition and profitability. The five forces include the threat of new entrants, power of suppliers, power of buyers, threat of substitutes, and rivalry among existing competitors. The framework is used to analyze an industry's structure and attractiveness by examining the competitive forces that determine long-term profitability. It helps companies understand the industry they operate in and their position within it.
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The slides highlight the competition and conflict with a marketing channel. Enjoy and rate out of 10.
Thank You!
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This document discusses factors that influence pricing decisions in marketing management. It covers objectives of pricing like return on investment, market penetration, and market skimming. Factors that affect pricing include production costs, perceived value, demand, and competitor prices. The document also outlines different methods of pricing like cost-based pricing, value pricing, and competition-based pricing. Finally, it concludes that pricing strategy is an important marketing tool that determines the success of a product and helps maximize revenue while taking into account various factors.
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Channel conflict occurs when the perceptions of roles and responsibilities between channel members are inconsistent. This document discusses the causes of channel conflict, including market evolution and e-commerce strategies. It also examines case studies of companies like Levi Strauss that experienced channel conflict when introducing direct online sales, and strategies manufacturers can use to minimize conflict, like effective communication and coordination with retailers.
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There are internal and external factors that determine price. Internal factors include marketing objectives, costs, and organizational considerations. External factors include market demand, competition, economic conditions, and government actions. When setting price, companies consider costs, value to customers, competition, and promotional strategies. The optimal pricing strategy depends on the product, market conditions, and business objectives.
Factors Affecting Price
The document describes different types of market structures: perfect competition where many buyers and sellers transact standardized products at a single market price; monopoly where a single seller dominates the market and can set a profit-maximizing price; monopolistic competition where many firms offer similar but differentiated products giving them some monopolistic power; and oligopoly where a small number of large firms control the market and can influence prices. It also mentions factors like costs of production, customer demand in response to price, distribution costs, and existing market competition that influence business pricing and promotion decisions.
Pricing Strategies
Companies must consider laws governing fair pricing practices when setting prices. These laws address issues like price fixing, predatory pricing, and unfair discrimination within and across distribution channels. Price fixing involves competitors agreeing on prices, while predatory pricing undercuts rivals. Unfair discrimination occurs when sellers charge different prices to similar customers. Laws also regulate requiring retail prices and deceptive advertising of price savings.
9 Reasons why manufacturers should sell online and how to avoid channel conflict
This 18 slides presentation provides insight why manufacturers should not rely only on distribution channels for sales. Read about 9 reasons why they should engage in direct-to-consumer E-Commerce and how to avoid channel conflict with existing sales channels.
Connect with me on Linkedin: www.linkedin.com/in/olafjonsek/
Channel
This document discusses channel design, channel conflict, and channel management decisions. It covers key topics such as the dimensions that influence channel design like market, product, company, and environmental factors. It also defines types of channel conflict including vertical, horizontal, inter-type, and multi-channel conflicts. Finally, it outlines major decision areas in channel management like selecting, training, and evaluating channel members and factors that influence channel management decisions.
Channel conflict
Channel conflict arises when the activities or operations of one channel partner negatively impact the goals of another partner in the distribution chain. It can occur between different levels of partners (vertical), between partners on the same level (horizontal), or when a manufacturer uses multiple channels. Common causes include incompatible goals, strategic misalignment, and market perception differences. Consequences include price wars, customer dissatisfaction, sales deterioration, and partners exiting the channel. Management strategies involve mediation, forming councils, aligning goals, and ensuring fair pricing across channels. Samsung faced a multi-channel conflict when offline partners complained high online discounts hurt their sales.
How should a company set prices initially for products or services?
A company must set an initial price for new products or when entering new markets. There is a 5-step process: 1) Select a pricing objective like survival, maximum profit, or market share. 2) Determine demand through price sensitivity and demand curves. 3) Estimate costs like fixed, variable, and average costs. 4) Analyze competitors' prices and offers. 5) Select a pricing method like markup or target-return pricing and consider costs, competition, and customer value to set the final price. The main strategies are selecting the objective, determining demand, estimating costs, analyzing competition, selecting a method, and setting the final price.
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This document discusses pricing strategies and considerations. It covers:
1) Assessing customer value perceptions and price sensitivities using methods like economic value analysis and conjoint analysis.
2) Identifying optimal pricing structures like quantity discounts, bundle pricing, and mixed bundling.
3) Considering competitive reactions and using techniques like price signaling, asymmetric pricing, and game theory.
4) Monitoring transaction prices and assessing customer emotional responses to pricing like reference prices and perceptions of fairness.
Pricing challenges and models for consumer goods companies
The document discusses the challenges companies face with pricing as the number of brands, channels, and customer segments have exploded. It has led to hundreds of thousands or millions of individual price points that are difficult to manage consistently. The proliferation has also driven companies to create more stock keeping units (SKUs) to try and limit conflicts between channels and reach more customer segments. However, this has made pricing more complex to manage. The document recommends companies create greater visibility into pricing performance, have a common pricing system across brands and channels, and establish a central pricing group to help integrate pricing while allowing some decentralized decision making.
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The document discusses value pricing and reducing list prices for P&G products. It analyzes profit margins for LDL (26.5%) and Coffee (6.5%) and determines LDL's price can be reduced while Coffee needs cost reductions. A 11% price reduction is calculated. Risks of frequent price changes include reduced topline, retailer compromise, and customer frustration/brand dilution. The approach for LDL should be price reduction while Coffee focuses on cost cuts.
Monopolistic Competition
Monopolistic competition is a market structure with many small businesses that sell similar but differentiated products. While firms have some control over pricing, they face significant competition and low profit margins due to the elastic demand curve and ease of market entry. To be successful, businesses must focus on cost efficiency, advertising, and differentiating their unique product offerings from competitors.
Ad war
This document discusses advertising wars, which are comparative advertisements that mention competitors by name to show superiority. The key points covered are:
- Advertising wars compare products on measurable attributes to identify competitors and convince consumers of a brand's superiority.
- Notable advertising wars in history include Pepsi vs Coca-Cola and Complan vs Horlicks.
- While advertising wars can increase transparency and competition, they also risk consumer confusion if comparisons are incomplete or inaccurate.
Regulations in India allow comparative ads if aspects compared are clear, no artificial advantages are conferred, and competing products are not unfairly denigrated. Both benefits and risks of advertising wars are discussed.
Pricing Theories
This presentation includes notes collected from various sources from internet during my study journey with regard to the topic Pricing Theory
Factors affecting pricing
Fixed and variable costs, competition, opportunity cost, demand, and supply all affect pricing. Direct competition refers to businesses selling similar products, while indirect competition sells dissimilar products. Price competition uses price to attract customers, while non-price competition uses other factors. Demand depends on factors like utility, price, advertising, fashion, and consumer needs/wants. Supply is affected by costs of production, price, demand, profit goals, competition, and technology. Elasticity of demand, economic conditions, regulations, distribution channels, and company objectives also impact price.
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Monopolistic competition is an imperfect market structure with many firms, differentiated products, and free entry and exit. Each firm faces a downward-sloping demand curve and charges a price above marginal cost, resulting in excess capacity and markup over marginal cost. While product variety benefits consumers, monopolistic competition also results in deadweight loss and potentially an inefficient number of firms. Firms use advertising and brand names both to inform consumers and potentially manipulate them.
Mba 1 mm-1 u-4.1 porter's five force model
Michael Porter introduced the Porter's Five Forces framework in 1979 to analyze industry competition and profitability. The five forces include the threat of new entrants, power of suppliers, power of buyers, threat of substitutes, and rivalry among existing competitors. The framework is used to analyze an industry's structure and attractiveness by examining the competitive forces that determine long-term profitability. It helps companies understand the industry they operate in and their position within it.
COMPETITION AND CONFLICT WITHIN MARKETING CHANNELS OF DISTRIBUTION
The slides highlight the competition and conflict with a marketing channel. Enjoy and rate out of 10.
Thank You!
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Channel Conflict: Historical Perceptions and Management Implications
Channel Conflict: Historical Perceptions and Management Implications
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9 Reasons why manufacturers should sell online and how to avoid channel conflict
How should a company set prices initially for products or services?
How should a company set prices initially for products or services?
Pricing challenges and models for consumer goods companies
Pricing challenges and models for consumer goods companies
COMPETITION AND CONFLICT WITHIN MARKETING CHANNELS OF DISTRIBUTION
COMPETITION AND CONFLICT WITHIN MARKETING CHANNELS OF DISTRIBUTION
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5) The need to compare the assortment of a brand to competitors in the market.
6) Tracking Manufacturer Suggested Retail Price compliance by resellers.
7) Product mapping using the latest techniques.
8) Also, competition analysis offers many other benefits that you should not miss!
Watch the recorded session here: https://jktech.com/webcast/how-to-stay-10-steps-ahead-of-retail-competitors/
Strategy DevelopmentWeek 3Objectives Week 3Devel.docx
Strategy Development
Week 3
Objectives Week 3Develop strategic objectives.
Create organizational objectives and goals.
Articulate value proposition, key activities, resources, and channels to market.
Quote……
“Successful business strategy is about actively shaping the game you play, not just playing the game you find.”
Adam M. Brandenburger and Barry J. Nalebuff
Quote……
“The essence of strategy lies in creating tomorrow’s competitive advantage faster than competitors mimic the ones you posses today”
Gary Hamel and C.K. Prahalad
Quote……
“Competitive strategy is about being different. It means deliberately choosing to perform activities differently or to perform different activities than rivals to deliver a unique mix of value”.
—Michael E. Porter
Quote……
“Winners in business play rough and don’t apologize for it. The nicest part of playing hardball is watching your competitors squirm”
—George Stalk, Jr., and Rob Lachenauer”
Long-Term ObjectivesStrategic managers recognize that short-run profit maximization is rarely the best approach to achieving sustained corporate growth and profitability.Strategic decision makers confronts:
Should they eat the seeds to improve the near-term profit picture and make large dividend payments through cost-saving measures such as laying off workers during periods of slack demand, selling off inventories, or cutting back on research and development?
Or should they sow the seeds in the effort to reap long-term rewards by reinvesting profits in growth opportunities, committing resources to employee training, or increasing advertising expenditures?
Long-Term ObjectivesTo achieve long-term prosperity, strategic planners commonly establish long-term objectives in seven areas: Profitability Competitive PositionEmployee RelationsTechnological Leadership Productivity – In-OutEmployee DevelopmentPublic Responsibility
Qualities of Long-Term ObjectivesWhat distinguishes a good objective from a bad one? What qualities of an objective improve its chances of being attained?There are five criteria that should be used in preparing long-term objectives:
Flexible
Measurable
Motivating
Suitable
Understandable
The Balanced ScorecardThe balanced scorecard is a set of measures that are directly linked to the company’s strategy
Developed by Robert S. Kaplan and David P. Norton, it directs a company to link its own long-term strategy with tangible goals and actions.
The scorecard allows managers to evaluate the company from four perspectives:
financial performance
customer knowledge
internal business processes
learning and growth
The Balance Scorecard
The Balance Scorecard
The Balance ScorecardPerspectiveObjectiveKPIGoal for 2014FinanceBecome industry Cost Leader% Reduction in Cost per Unit20%Utilization of AssetsUtilization Rate7%Increase Market ShareMarket Share30%CustomerCustomer Retention% Retention 75%On Time Delivery% of On Time Delivery90%Zero Defects% of Good Quality.
Mm.12.10
The document discusses developing pricing strategy and provides information on:
- Factors that influence pricing like costs, demand, competition
- Common pricing mistakes like not adjusting for market changes
- Consumer psychology related to pricing like reference prices
- Methods for setting prices like cost-based, demand-based, competition-oriented pricing
- Steps in setting price which include selecting objectives, determining demand, analyzing costs and competition
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The document discusses marketing information systems. It defines a marketing information system as a set of procedures for regularly collecting, analyzing, and presenting market information to aid marketing decisions. It notes key characteristics include being ongoing, computer-based, and supporting decision-making at all levels. The document outlines the major components as internal marketing data, marketing intelligence on external factors, and specialized marketing research. It also describes the basic process of establishing metrics, collecting data, analyzing trends, and communicating findings.
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Introduction to objective, scope and outcome the subject
Chapter 2
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Pricing method & strategy
- 1. MPC AUTONOMOUS COLLEGE BARIPADA DEPARTMENT OF MBA PRESENTATION ON PRESENTED BY SUDIPTA KUMAR PATRA ROLL NO 16 SUBMITTED TO MR ZAHIR HUSSAIN PRICING
- 2. CONTENTS PRICE PRICING PRICING OBJECTIVES FACTORS AFFECTING PRICING METHODS OF PRICING PRICING STRATEGIES CONCLUSION
- 3. PRICE PRICE IS THE EXCHANGE VALUE OF GOODS AND SERVICES IN TERMS OF MONEY
- 4. PRICING IT IS THE PROCESS OF SETTING/DECIDING THE PRICE OF A PRODUCT IT IS A MANAGERIAL TASK
- 5. PRICINGOBJECTIVE PROFIT MAXIMISATION MARKET SHARE GROWTH PRODUCT QUALITY LEADERSHIP FACING COMPETITIVE SITUATION ACHIEVING TARGET RETURN SURVIVAL PRICE STABILITY MARGIN ABILITY TO PAY
- 6. FACTORSAFFECTINGPRICING INTERNAL FACTORS ORGANISATIONAL FACTORS MARKETING MIX PRODUCT COST PRODUCT LIFE CYCLE PRICING OBJECTIVES FUNCTIONAL POSITION EXTERNAL FACTORS COMPETITION PRODUCT DEMAND ECONOMIC CONDITION GOVERNMENT CONTROL
- 7. CONSUMERPSYCHOLOGY&PRICING PRICE – QUALITY INFLUENCE PRICE CLUES
- 8. METHODSOFPRICING DEMAND ORIENTED PRICING COST ORIENTED PRICING COMPETITION ORIENTED PRICING VALUE BASED PRICING
- 9. DEMANDORIENTEDPRICING DEMAND ORIENTED PRICING AS THE NAME SUGGESTS USES THE CUSTOMER DEMAND TO SET UP PRICE IN THE MARKET A HIGH PRICE IS CHARGED WHEN THE DEMAND IS HIGH AND A LOW PRICE IS CHARGED WHEN THE DEMAND IS LOW
- 10. THE FACTORS RESPONSIBLE FOR DEMAND BASED PRICING ARE: COST OF PRODUCTION QUALITY MARKET CONDITION COMPETITION PERFECT COMPETITION MONOPOLY OLIGOPOLY MONOPOLISTIC
- 11. COSTORIENTEDPRICING THIS METHOD OF PRICING DEPENDS UPPON THE PRICING OBJECTIVES AND POLICIES OF THE FIRM THERE ARE TWO METHODS IN THIS CATEGORY COST PLUS PRICING BREAK EVEN ANALYSIS
- 12. COSTPLUSPRICING IT IS THE MOST COMMON PRICING METHOD USED BY THE BUSINESS ENTERPRISES UNDER THIS METHOD COST OF PRODUCT AND MARGIN OF PROFIT IS ADDED TO DETERMINE THE PRICE SELLING PRICE=UNIT TOTAL COST+DESIRED UNIT PROFIT
- 13. BREAKEVENANALYSIS BREAK EVEN ANALYSIS IS THE MOST SOPHISTICATED PRICING TECHNIQUE WHICH TAKES INTO CONSIDERATION AT BOTH FIXED COST AND VARIABLE COST
- 14. BREAKEVENPOINT IT REPRESENT THE VOLUME OF PRODUCTION AT WHICH THERE NO PROFIT OR NO LOSS
- 15. COMPETITIONORIENTEDPRICING THIS POLICY IS USED WHEN THE MARKET IS HIGHLY COMPETITIVE AND THE PRODUCT IS NOT DIFFERENTIATED EASILY
- 16. VALUEBASEDPRICING UNDER THIS CATEGORY PRICE IS DETERMINED BY BUYER’S PERCEPTION OF VALUE RATHER THAN THE SELLER’S COST CUSTOMER VALUE PRICE COST PRODUCT
- 17. PRICINGSTRATEGIES PENETRATION PRICING PSYCHOLOGICAL PRICING PRESTIGE PRICING LEADER PRICING GEOGRAPHICAL PRICING DUAL OR DISCREMINATORY PRICING PREMIUM PRICING COMPETITIVE PRICING SKIMMING THE CREAM PRICING
- 18. PENETRATIONPRICING PRICING ARE FIXED BELOW THE COMPETITIVE LEVEL TO OBTAIN A LARGER SHARE OF THE MARKET TO DEVELOP POPULARITY OF THE BRAND
- 19. PSYCHOLOGICALPRICING PRICES ARE FIXED ON THE BASIS OF PSYCHOLOGICAL INFLUENCE OF THE CONSUMERS
- 20. PRESTIGEPRICING THE PRACTICE OF GIVING A HIGH PRICE TO CONVEY THE IDEA THAT IT MUST BE OF HIGH QUALITY OR STATUS
- 21. LEADERPRICING FIRM MAY CUT PRICES TEMPORARILY ON A FEW ITEMS IN ORDER TO ATTRACT CUSTOMER
- 22. GEOGRAPHICALPRICING HERE THE DISTANCE BETWEEN THE SELLER AND THE BUYER IS CONSIDERED
- 23. DUALORDISCREMINATORYPRICING SOME ENTERPRISES FOLLOW THE POLICY OF CHARGING DIFFERENT PRICES FROM DIFFERENT CUSTOMER ACCORDING TO THEIR ABILITY TO PAY
- 24. PREMIUMPRICING IT INVOLVES TACTCALLY PRICING THAT A COMPANY’S PRODUCT HIGHER THAN THE IMMEDIATE COMPETITION IT IS A MIXTURE OF WHAT TRAFFIC WILL BEAR AND THE VALUE FOR MONEY
- 25. COMPETITIONPRICING THE MANUFACTURER OF A NEW PRODUCT OR SERVICES MAY DECIDE TO FIXED THE PRICE AT THE COMPETITIVE LEVEL
- 26. SKIMMINGTHECREAMPRICING UNDER THIS HIGHER PRICES ARE CHARGED DURING THE INITIAL STAGES OF THE INTRODUCTION OF A NEW PRODUCT OR SERVICES
- 27. CONCLUSION PRICING GENERATES BOTH REVENUE AND PROFIT THE CORRECT PRICE IS VITAL TO THE SUCCESS OF THE BUSINESS PRICING CAN IMPACT THE BRAND IMAGE OF A COMPANY THE MARKETER SHOULD HAVE THE UNDERSTANDING OF VARIOUS PRICING TECNIQUE