The document discusses various pricing strategies and considerations for setting prices. It outlines key factors that affect pricing decisions, including costs, competition, consumers, and economic conditions. It then describes different pricing methods such as cost-based pricing, demand-based pricing, competition-based pricing, product line pricing, and promotional pricing strategies. The goal of pricing is to maximize profits while achieving other objectives like sales growth and market share.
Pricing is a key element in determining the profitability and success of a business. The price must be set correctly - if too high, demand may decrease and the product may be priced out of the market, but if too low, revenue may not cover costs. Pricing strategies should consider the product lifecycle stage, costs, competitors, and demand factors. Common pricing methods include penetration pricing for new products, market skimming for premium products, value pricing based on perceived worth, and cost-plus pricing which adds a markup to costs. Price affects demand through price elasticity, with elastic demand more sensitive to price changes.
Pricing is a key element in determining the profitability and success of a business. It is important to set the right price that covers costs but also generates enough revenue. There are several pricing methods and factors that affect demand determination that marketers must consider when setting prices. These include penetration pricing, market skimming, value pricing, cost-plus pricing, and understanding price elasticity and how competitors' prices affect demand. Careful analysis of costs, competitors, and target markets is needed to select the optimal pricing strategy.
The importance of marketing mix to the Travel, Tourism and Hospitality manage...Paul Solaman Srilal 🇱🇰
The document discusses the components of the marketing mix and their importance to the travel, tourism, and hospitality industry. It analyzes pricing strategies and policies related to the industry. The marketing mix, also known as the 8Ps, includes product, price, place, promotion, people, packaging, programming, and partnership. Pricing strategies discussed include those for new product introduction, growth, maturity, and decline stages of the product lifecycle. Factors influencing pricing decisions such as costs, demand, and competition are also examined.
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.
MEFA-III UNIT-Pricing methods and stratigies ppts.pptxIshuIswarya3
This document discusses various pricing methods and strategies used by companies. It outlines cost-oriented methods like cost-plus pricing and marginal cost pricing. It also discusses competition-oriented methods such as going rate pricing, trade association pricing, and price leadership. Additionally, it covers economy-oriented methods like administered pricing and dual pricing. The document then examines strategies for pricing new products, like skimming pricing and penetrating pricing. It concludes by looking at strategies for pricing multiple and related products such as substitutes, complements, and unrelated goods.
This document discusses various pricing strategies that can be used by companies. It covers major strategies such as customer value-based pricing, competition based pricing, and cost-based pricing. It also discusses product mix pricing strategies and price adjustment strategies including discounting, segmented pricing, and geographical pricing. The document provides examples and definitions for each strategy to explain how and when companies can apply different approaches to setting prices.
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 market will bear and include skimming pricing, penetration pricing, and competition-oriented pricing like premium, discounted, and parity pricing. Other methods are product line pricing, tender pricing, affordability-based pricing, and differentiated pricing.
The document discusses pricing strategies and the steps involved in setting prices. It outlines 6 main steps: 1) selecting a pricing objective, 2) determining demand, 3) estimating costs, 4) analyzing competitors, 5) selecting a pricing method, and 6) selecting the final price. It also discusses adapting prices based on factors like geography, discounts, promotions, and differentiation. The document provides examples and details for each step and concept.
Pricing is a key element in determining the profitability and success of a business. The price must be set correctly - if too high, demand may decrease and the product may be priced out of the market, but if too low, revenue may not cover costs. Pricing strategies should consider the product lifecycle stage, costs, competitors, and demand factors. Common pricing methods include penetration pricing for new products, market skimming for premium products, value pricing based on perceived worth, and cost-plus pricing which adds a markup to costs. Price affects demand through price elasticity, with elastic demand more sensitive to price changes.
Pricing is a key element in determining the profitability and success of a business. It is important to set the right price that covers costs but also generates enough revenue. There are several pricing methods and factors that affect demand determination that marketers must consider when setting prices. These include penetration pricing, market skimming, value pricing, cost-plus pricing, and understanding price elasticity and how competitors' prices affect demand. Careful analysis of costs, competitors, and target markets is needed to select the optimal pricing strategy.
The importance of marketing mix to the Travel, Tourism and Hospitality manage...Paul Solaman Srilal 🇱🇰
The document discusses the components of the marketing mix and their importance to the travel, tourism, and hospitality industry. It analyzes pricing strategies and policies related to the industry. The marketing mix, also known as the 8Ps, includes product, price, place, promotion, people, packaging, programming, and partnership. Pricing strategies discussed include those for new product introduction, growth, maturity, and decline stages of the product lifecycle. Factors influencing pricing decisions such as costs, demand, and competition are also examined.
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.
MEFA-III UNIT-Pricing methods and stratigies ppts.pptxIshuIswarya3
This document discusses various pricing methods and strategies used by companies. It outlines cost-oriented methods like cost-plus pricing and marginal cost pricing. It also discusses competition-oriented methods such as going rate pricing, trade association pricing, and price leadership. Additionally, it covers economy-oriented methods like administered pricing and dual pricing. The document then examines strategies for pricing new products, like skimming pricing and penetrating pricing. It concludes by looking at strategies for pricing multiple and related products such as substitutes, complements, and unrelated goods.
This document discusses various pricing strategies that can be used by companies. It covers major strategies such as customer value-based pricing, competition based pricing, and cost-based pricing. It also discusses product mix pricing strategies and price adjustment strategies including discounting, segmented pricing, and geographical pricing. The document provides examples and definitions for each strategy to explain how and when companies can apply different approaches to setting prices.
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 market will bear and include skimming pricing, penetration pricing, and competition-oriented pricing like premium, discounted, and parity pricing. Other methods are product line pricing, tender pricing, affordability-based pricing, and differentiated pricing.
The document discusses pricing strategies and the steps involved in setting prices. It outlines 6 main steps: 1) selecting a pricing objective, 2) determining demand, 3) estimating costs, 4) analyzing competitors, 5) selecting a pricing method, and 6) selecting the final price. It also discusses adapting prices based on factors like geography, discounts, promotions, and differentiation. The document provides examples and details for each step and concept.
This document discusses various pricing policies, objectives, factors, and strategies. It begins by defining pricing and pricing policy. It then discusses pricing objectives such as profit maximization, satisfactory profits, and market share. It also covers factors that influence pricing like costs, competition, and customer willingness to pay. Finally, it outlines and describes various common pricing strategies such as penetration pricing, skimming pricing, competitive pricing, discount pricing, and bundle pricing.
Principles of marketing topic 6 price 2021znurul anis
The document discusses various types of pricing strategies and concepts. It begins by defining key terms like cost, price, and different pricing strategies such as good-value pricing and value-added pricing. It then covers customer value-based pricing, cost-based pricing including incremental cost pricing and break-even analysis. Competitive based pricing and types like pricing at the current rate and closed bid pricing are explained. The document also discusses market skimming and penetration pricing strategies and concludes by summarizing product mix pricing strategies such as product line pricing, optional features pricing, captive product pricing, by-product pricing, and product bundle pricing.
This document discusses pricing strategies and factors that influence pricing decisions. It contains the following key points:
1) Pricing is the amount of money charged for a product or service and is determined by considering costs, perceived value, and competition.
2) Factors that influence pricing include objectives, costs, demand, competition, product differentiation, and government regulations.
3) Common pricing approaches are cost-based using markups, target returns, or breakeven analysis as well as demand-based using perceived value or value pricing.
4) Pricing is important for revenue generation, market demand, competition, and customer perceptions of quality. Setting the right price is crucial for business success.
Unit 6 part_1_pricing_and_pricing_strategiesAshish Awasthi
The document discusses pricing and pricing strategies. It defines pricing as the process of setting the price of a product or service. Setting prices can be challenging as prices that are too high will reduce sales and prices that are too low will not generate sufficient revenue. Pricing objectives include earning revenue, increasing sales, beating competition and gaining market share. Key factors that impact pricing are costs, demand, competition and government policies. Common methods for setting prices include cost-plus pricing, value-based pricing and competition-based pricing. Popular pricing strategies are skimming pricing, penetration pricing, dynamic pricing and bundle pricing.
This document discusses factors that affect pricing decisions and different pricing strategies. It begins by defining pricing and its objectives. It then outlines internal factors like business objectives, costs, and product differentiation and external factors like demand, competition, and economic conditions that influence pricing. Finally, it explains various pricing strategies such as penetration pricing, premium pricing, bundle pricing, psychological pricing, and dynamic pricing that are used to meet pricing objectives.
Pricing is an important business decision that directly affects revenues. There are many internal and external factors that must be considered when setting prices, including objectives, costs, competition, and demand. Some common pricing strategies include penetration pricing, premium pricing, bundle pricing, psychological pricing, promotional pricing, and dynamic pricing. The objectives and factors affecting price are analyzed to determine the optimal pricing strategy.
The document discusses pricing and performance in retail. It covers several topics:
1. It defines retail pricing and factors that influence retail prices such as manufacturing costs, competition, and consumer buying power.
2. It discusses various pricing strategies retailers can use such as cost-oriented, demand-oriented, competition-oriented, and differential pricing.
3. It explains the concepts of markups and markdowns that retailers use to adjust prices and increase sales.
4. It discusses methods retailers use to evaluate merchandise performance, including ABC analysis, sell-through analysis, and multi-attribute methods.
The document discusses pricing strategies and objectives. It explains that price is the only element of the marketing mix that generates revenue, while other elements like product, place and promotion result in costs. The key objectives for setting prices include survival, maximizing current profits, gaining maximum market share through penetration pricing, utilizing market skimming for new products, and being a quality leader through premium "affordable luxury" pricing. Firms estimate costs, including fixed, variable and total costs, and determine demand curves through surveys, price experiments and statistical analysis to identify the optimal price point between the price ceiling of demand and price floor of costs.
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.
This document discusses different pricing strategies for a product. It outlines cost-based pricing methods which include marking up product costs by a percentage or adding a percentage to unknown costs. It also discusses competition-based pricing, including matching competitors' prices to be comparable, lowering prices to increase market share, or seeking larger market share through lower prices. Finally, it outlines customer-based pricing such as penetration pricing to attract new customers, price skimming to target early adopters, loss leaders to attract customers into making additional purchases, predatory pricing to restrict competition, and psychological pricing to make products seem cheaper than they are.
Types Of Pricing Models For All Types Of Businesses PowerPoint Presentation S...SlideTeam
This complete deck can be used to present to your team. It has PPT slides on various topics highlighting all the core areas of your business needs. This complete deck focuses on Types Of Pricing Models For All Types Of Businesses PowerPoint Presentation Slides and has professionally designed templates with suitable visuals and appropriate content. This deck consists of total of fourty one slides. All the slides are completely customizable for your convenience. You can change the colour, text and font size of these templates. You can add or delete the content if needed. Get access to this professionally designed complete presentation by clicking the download button below. https://bit.ly/2CGEMnZ
This document discusses pricing decisions and strategies. It covers understanding price, factors that affect pricing like costs and competition, methods for setting prices, and adapting prices over time and locations. The key steps in setting a price include selecting objectives, determining demand and costs, analyzing competitors, choosing a pricing method, and selecting the final price. Common pricing methods are markup pricing, absorption cost pricing, target-return pricing, and perceived value pricing. Companies also consider geographical pricing, discounts, promotional pricing, and price changes over time in response to costs or competitors.
The document discusses pricing strategies and considerations. It begins by outlining key questions around how consumers evaluate prices, how companies should initially set prices and adapt prices over time. It then defines price and discusses factors to consider like customer perceptions of value, cost, and other marketing mix variables. The document also covers types of pricing like value-based, cost-based, good-value pricing and value-added pricing. It outlines the pricing process, including selecting objectives, estimating costs and demand, and choosing a final price. The document concludes by discussing strategies for adapting prices based on factors like location, promotions, and customer segments.
Pricing is the process of determining the value of goods and services and involves considering factors such as production costs, market competition, and target consumers. There are various pricing methods including cost-oriented methods like cost-plus pricing which adds a markup to costs, and market-oriented methods like perceived value pricing which considers how customers value quality, advertising, etc. When determining prices, businesses must weigh internal factors like costs and objectives as well as external factors like competition, government regulations, and economic conditions. The goal is to set a price that allows the business to survive in the market and earn a profit.
Great tips, resources, best practices and how-to's on Internet Marketing and Interactive Media esp. on how they affect products to plan launch and grow a wildly successful business.
Accounting for the non accountant - unit 8CTDLearning
Pricing is an important factor in a product's success and a company's survival. While price was traditionally seen as the most important factor, new startups need to consider that customers may not pay high prices for unknown brands. There are various pricing strategies companies can use, such as penetrating the market with low prices before raising them, skimming by starting high and lowering over time, or matching competitors' prices. Internal transfer pricing between company divisions also impacts costs and profits.
The document discusses pricing strategies and factors that influence price. It explains that price is determined by costs, desired profit, supply and demand, competition, and customers' perceived value. Various pricing strategies are outlined, including skimming, penetration pricing, competitive pricing, loss leaders, psychological pricing, differential pricing, cost-plus pricing, and strategic pricing. The document also discusses how pricing strategies change over a product's life cycle and can be used to target different quality levels and market segments.
The document discusses various pricing approaches and strategies that businesses can use, including cost-based pricing, demand-based pricing, and competitor-based pricing. It provides details on different models within each approach. For example, under cost-based pricing it describes break-even pricing and markup pricing, while under demand-based pricing it explains strategies like market skimming, penetration pricing, prestige pricing, and bundle pricing. The document also notes factors that businesses should consider when determining their pricing approach, like costs, competition, target markets, and objectives.
The document discusses the difference between being proactive versus reactive. It explains that proactive people take responsibility for their lives and how they respond to situations, while reactive people have difficulty controlling their emotions and may explode when faced with problems. It introduces the concept of the Circle of Influence, which represents the things a person can control in their life, versus the Circle of Concern which includes things out of their control. The key to being proactive is focusing efforts on expanding one's Circle of Influence rather than dwelling on the Circle of Concern. Proactivity leads to reduced stress and improved relationships.
The document defines key concepts in the Sale of Goods Act 1930 in India including:
1. A contract of sale is an agreement where the seller transfers ownership of goods to the buyer in exchange for a price. It must involve two parties, goods as the subject matter, and consideration in the form of a price.
2. Goods are defined as any movable property including crops, shares, and things attached to land that are agreed to be severed.
3. Goods can be existing, future, or contingent depending on whether they are currently owned, will be produced later, or acquisition depends on an uncertain event.
4. A sale transfers ownership immediately while an agreement to sell defers ownership until a later date or condition
This document discusses various pricing policies, objectives, factors, and strategies. It begins by defining pricing and pricing policy. It then discusses pricing objectives such as profit maximization, satisfactory profits, and market share. It also covers factors that influence pricing like costs, competition, and customer willingness to pay. Finally, it outlines and describes various common pricing strategies such as penetration pricing, skimming pricing, competitive pricing, discount pricing, and bundle pricing.
Principles of marketing topic 6 price 2021znurul anis
The document discusses various types of pricing strategies and concepts. It begins by defining key terms like cost, price, and different pricing strategies such as good-value pricing and value-added pricing. It then covers customer value-based pricing, cost-based pricing including incremental cost pricing and break-even analysis. Competitive based pricing and types like pricing at the current rate and closed bid pricing are explained. The document also discusses market skimming and penetration pricing strategies and concludes by summarizing product mix pricing strategies such as product line pricing, optional features pricing, captive product pricing, by-product pricing, and product bundle pricing.
This document discusses pricing strategies and factors that influence pricing decisions. It contains the following key points:
1) Pricing is the amount of money charged for a product or service and is determined by considering costs, perceived value, and competition.
2) Factors that influence pricing include objectives, costs, demand, competition, product differentiation, and government regulations.
3) Common pricing approaches are cost-based using markups, target returns, or breakeven analysis as well as demand-based using perceived value or value pricing.
4) Pricing is important for revenue generation, market demand, competition, and customer perceptions of quality. Setting the right price is crucial for business success.
Unit 6 part_1_pricing_and_pricing_strategiesAshish Awasthi
The document discusses pricing and pricing strategies. It defines pricing as the process of setting the price of a product or service. Setting prices can be challenging as prices that are too high will reduce sales and prices that are too low will not generate sufficient revenue. Pricing objectives include earning revenue, increasing sales, beating competition and gaining market share. Key factors that impact pricing are costs, demand, competition and government policies. Common methods for setting prices include cost-plus pricing, value-based pricing and competition-based pricing. Popular pricing strategies are skimming pricing, penetration pricing, dynamic pricing and bundle pricing.
This document discusses factors that affect pricing decisions and different pricing strategies. It begins by defining pricing and its objectives. It then outlines internal factors like business objectives, costs, and product differentiation and external factors like demand, competition, and economic conditions that influence pricing. Finally, it explains various pricing strategies such as penetration pricing, premium pricing, bundle pricing, psychological pricing, and dynamic pricing that are used to meet pricing objectives.
Pricing is an important business decision that directly affects revenues. There are many internal and external factors that must be considered when setting prices, including objectives, costs, competition, and demand. Some common pricing strategies include penetration pricing, premium pricing, bundle pricing, psychological pricing, promotional pricing, and dynamic pricing. The objectives and factors affecting price are analyzed to determine the optimal pricing strategy.
The document discusses pricing and performance in retail. It covers several topics:
1. It defines retail pricing and factors that influence retail prices such as manufacturing costs, competition, and consumer buying power.
2. It discusses various pricing strategies retailers can use such as cost-oriented, demand-oriented, competition-oriented, and differential pricing.
3. It explains the concepts of markups and markdowns that retailers use to adjust prices and increase sales.
4. It discusses methods retailers use to evaluate merchandise performance, including ABC analysis, sell-through analysis, and multi-attribute methods.
The document discusses pricing strategies and objectives. It explains that price is the only element of the marketing mix that generates revenue, while other elements like product, place and promotion result in costs. The key objectives for setting prices include survival, maximizing current profits, gaining maximum market share through penetration pricing, utilizing market skimming for new products, and being a quality leader through premium "affordable luxury" pricing. Firms estimate costs, including fixed, variable and total costs, and determine demand curves through surveys, price experiments and statistical analysis to identify the optimal price point between the price ceiling of demand and price floor of costs.
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.
This document discusses different pricing strategies for a product. It outlines cost-based pricing methods which include marking up product costs by a percentage or adding a percentage to unknown costs. It also discusses competition-based pricing, including matching competitors' prices to be comparable, lowering prices to increase market share, or seeking larger market share through lower prices. Finally, it outlines customer-based pricing such as penetration pricing to attract new customers, price skimming to target early adopters, loss leaders to attract customers into making additional purchases, predatory pricing to restrict competition, and psychological pricing to make products seem cheaper than they are.
Types Of Pricing Models For All Types Of Businesses PowerPoint Presentation S...SlideTeam
This complete deck can be used to present to your team. It has PPT slides on various topics highlighting all the core areas of your business needs. This complete deck focuses on Types Of Pricing Models For All Types Of Businesses PowerPoint Presentation Slides and has professionally designed templates with suitable visuals and appropriate content. This deck consists of total of fourty one slides. All the slides are completely customizable for your convenience. You can change the colour, text and font size of these templates. You can add or delete the content if needed. Get access to this professionally designed complete presentation by clicking the download button below. https://bit.ly/2CGEMnZ
This document discusses pricing decisions and strategies. It covers understanding price, factors that affect pricing like costs and competition, methods for setting prices, and adapting prices over time and locations. The key steps in setting a price include selecting objectives, determining demand and costs, analyzing competitors, choosing a pricing method, and selecting the final price. Common pricing methods are markup pricing, absorption cost pricing, target-return pricing, and perceived value pricing. Companies also consider geographical pricing, discounts, promotional pricing, and price changes over time in response to costs or competitors.
The document discusses pricing strategies and considerations. It begins by outlining key questions around how consumers evaluate prices, how companies should initially set prices and adapt prices over time. It then defines price and discusses factors to consider like customer perceptions of value, cost, and other marketing mix variables. The document also covers types of pricing like value-based, cost-based, good-value pricing and value-added pricing. It outlines the pricing process, including selecting objectives, estimating costs and demand, and choosing a final price. The document concludes by discussing strategies for adapting prices based on factors like location, promotions, and customer segments.
Pricing is the process of determining the value of goods and services and involves considering factors such as production costs, market competition, and target consumers. There are various pricing methods including cost-oriented methods like cost-plus pricing which adds a markup to costs, and market-oriented methods like perceived value pricing which considers how customers value quality, advertising, etc. When determining prices, businesses must weigh internal factors like costs and objectives as well as external factors like competition, government regulations, and economic conditions. The goal is to set a price that allows the business to survive in the market and earn a profit.
Great tips, resources, best practices and how-to's on Internet Marketing and Interactive Media esp. on how they affect products to plan launch and grow a wildly successful business.
Accounting for the non accountant - unit 8CTDLearning
Pricing is an important factor in a product's success and a company's survival. While price was traditionally seen as the most important factor, new startups need to consider that customers may not pay high prices for unknown brands. There are various pricing strategies companies can use, such as penetrating the market with low prices before raising them, skimming by starting high and lowering over time, or matching competitors' prices. Internal transfer pricing between company divisions also impacts costs and profits.
The document discusses pricing strategies and factors that influence price. It explains that price is determined by costs, desired profit, supply and demand, competition, and customers' perceived value. Various pricing strategies are outlined, including skimming, penetration pricing, competitive pricing, loss leaders, psychological pricing, differential pricing, cost-plus pricing, and strategic pricing. The document also discusses how pricing strategies change over a product's life cycle and can be used to target different quality levels and market segments.
The document discusses various pricing approaches and strategies that businesses can use, including cost-based pricing, demand-based pricing, and competitor-based pricing. It provides details on different models within each approach. For example, under cost-based pricing it describes break-even pricing and markup pricing, while under demand-based pricing it explains strategies like market skimming, penetration pricing, prestige pricing, and bundle pricing. The document also notes factors that businesses should consider when determining their pricing approach, like costs, competition, target markets, and objectives.
The document discusses the difference between being proactive versus reactive. It explains that proactive people take responsibility for their lives and how they respond to situations, while reactive people have difficulty controlling their emotions and may explode when faced with problems. It introduces the concept of the Circle of Influence, which represents the things a person can control in their life, versus the Circle of Concern which includes things out of their control. The key to being proactive is focusing efforts on expanding one's Circle of Influence rather than dwelling on the Circle of Concern. Proactivity leads to reduced stress and improved relationships.
The document defines key concepts in the Sale of Goods Act 1930 in India including:
1. A contract of sale is an agreement where the seller transfers ownership of goods to the buyer in exchange for a price. It must involve two parties, goods as the subject matter, and consideration in the form of a price.
2. Goods are defined as any movable property including crops, shares, and things attached to land that are agreed to be severed.
3. Goods can be existing, future, or contingent depending on whether they are currently owned, will be produced later, or acquisition depends on an uncertain event.
4. A sale transfers ownership immediately while an agreement to sell defers ownership until a later date or condition
The document discusses key concepts from the Sale of Goods Act 1930 in India such as:
- The essential elements of a valid contract of sale including two parties, transfer of goods ownership for a price.
- The distinction between a sale where ownership transfers immediately, and an agreement to sell where it transfers in the future.
- The types of goods covered like existing, future and contingent goods.
- The important concepts of conditions and warranties, and the difference between them. Conditions allow contract termination for breach while warranties only allow damages.
- Implied conditions and warranties included in contracts by default according to the act and case law.
Financial markets allow buyers and sellers to exchange financial instruments like stocks, bonds, and derivatives. There are two main components - the money market and the capital market.
The money market deals with short-term debt instruments with maturities of less than one year, such as treasury bills, commercial paper, certificates of deposit, and call money. The capital market provides a platform for long-term fundraising and includes both primary markets where new securities are issued, and secondary markets where existing securities are traded.
The time value of money recognizes that money available at the present has more value than the same amount in the future, due to interest, inflation, and opportunities to invest money and earn returns. Present value discounts future
An elevator pitch is a short summary used to quickly define a person, product, service, or company and its value proposition. It should be possible to deliver the summary in the time span of an elevator ride, which is about 60 seconds. An effective elevator pitch gets straight to the point by summarizing "what you are" and "what you want" in the brief time available to make a good first impression. It must answer who the target audience is, what problem is being solved, how the problem is solved, who is behind the project, and what makes the project special. Examples of effective elevator pitches are provided.
This document discusses different types of advertising, including retail advertising. It describes print advertising such as newspapers and brochures. It also outlines outdoor advertising using billboards, broadcast advertising on television and radio, covert advertising within entertainment, surrogate advertising for banned products, public service advertisements, and celebrity endorsements. The document provides examples and descriptions of each type of advertising.
Global sourcing is a procurement strategy where companies purchase goods and services from international markets to reduce costs by using cheaper raw materials and skilled labor from low-cost countries. While the main advantage is cost savings, global sourcing also allows access to new markets and follows what competitors are doing. However, currency exchange rates can fluctuate and documentation for international transactions may be complicated and time-consuming.
This document discusses various methods of payment used in international trade. It describes cash in advance, where the buyer pays before shipment. Letters of credit are also discussed, where a bank guarantees payment if terms are met. Documentary collections involve using a bank as an agent to collect payment. There are two types: documents against payment, where goods are received upon payment, and documents against acceptance, where goods are received upon signing a promise to pay later. The document also describes open accounts, where goods are shipped before later payment is due, providing advantages to importers but higher risk for exporters.
The document provides an introduction to the foreign exchange market presented by Madhab Aryan Naik. It discusses primary goals and annual revenue growth for the market. It also includes a quote by Richard Branson about business opportunities always coming.
This document discusses various methods of payment used in international trade. It describes cash in advance, where the buyer pays before shipment; letters of credit, where a bank guarantees payment if terms are met; and documentary collections, where a bank acts as an intermediary to collect payment. For documentary collections, there are documents against payment and documents against acceptance options. It also covers open accounts, where goods are shipped before later payment is due, which provides advantages to importers but higher risk for exporters.
This document discusses expatriation, the roles of expatriates, expatriate failure, and repatriation. Expatriates are people who reside in a country other than their home country, either temporarily or permanently. Expatriates play roles in controlling operations, transferring skills and knowledge, and developing managers. Expatriate failure can occur due to inability to adjust to the host culture, personal or emotional problems, difficulties with the environment, or inability to handle large international responsibilities. Repatriation refers to returning home after an overseas assignment and can occur for reasons such as the posting period ending, a desire for children to study at home, a need to move to another global assignment, inability to adjust abroad, or
Part 2 Deep Dive: Navigating the 2024 Slowdownjeffkluth1
Introduction
The global retail industry has weathered numerous storms, with the financial crisis of 2008 serving as a poignant reminder of the sector's resilience and adaptability. However, as we navigate the complex landscape of 2024, retailers face a unique set of challenges that demand innovative strategies and a fundamental shift in mindset. This white paper contrasts the impact of the 2008 recession on the retail sector with the current headwinds retailers are grappling with, while offering a comprehensive roadmap for success in this new paradigm.
The Genesis of BriansClub.cm Famous Dark WEb PlatformSabaaSudozai
BriansClub.cm, a famous platform on the dark web, has become one of the most infamous carding marketplaces, specializing in the sale of stolen credit card data.
[To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
This PowerPoint compilation offers a comprehensive overview of 20 leading innovation management frameworks and methodologies, selected for their broad applicability across various industries and organizational contexts. These frameworks are valuable resources for a wide range of users, including business professionals, educators, and consultants.
Each framework is presented with visually engaging diagrams and templates, ensuring the content is both informative and appealing. While this compilation is thorough, please note that the slides are intended as supplementary resources and may not be sufficient for standalone instructional purposes.
This compilation is ideal for anyone looking to enhance their understanding of innovation management and drive meaningful change within their organization. Whether you aim to improve product development processes, enhance customer experiences, or drive digital transformation, these frameworks offer valuable insights and tools to help you achieve your goals.
INCLUDED FRAMEWORKS/MODELS:
1. Stanford’s Design Thinking
2. IDEO’s Human-Centered Design
3. Strategyzer’s Business Model Innovation
4. Lean Startup Methodology
5. Agile Innovation Framework
6. Doblin’s Ten Types of Innovation
7. McKinsey’s Three Horizons of Growth
8. Customer Journey Map
9. Christensen’s Disruptive Innovation Theory
10. Blue Ocean Strategy
11. Strategyn’s Jobs-To-Be-Done (JTBD) Framework with Job Map
12. Design Sprint Framework
13. The Double Diamond
14. Lean Six Sigma DMAIC
15. TRIZ Problem-Solving Framework
16. Edward de Bono’s Six Thinking Hats
17. Stage-Gate Model
18. Toyota’s Six Steps of Kaizen
19. Microsoft’s Digital Transformation Framework
20. Design for Six Sigma (DFSS)
To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations
Building Your Employer Brand with Social MediaLuanWise
Presented at The Global HR Summit, 6th June 2024
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1. AMITY GLOBAL
BUSINESS SCHOOL Bhubaneswar
Pricing Mix
• Price- It is the amount of money charged for a product or service or the
value exchanged for the benefits of the product or service.
“Represents the value of a good or service for both the seller and the buyer”
• Procedure for Price Setting
– Development of pricing Objectives
– Determination of Demand
– Estimation of costs
– Examining Competitor’s Costs, Prices & Offers
– Selection of Pricing strategy & methods
– Final price decision
• Objectives of the Pricing
– Profit maximization
– Profit margin maximization
– Sales Growth
– Market Share
– Survival
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2. AMITY GLOBAL
BUSINESS SCHOOL Bhubaneswar
Factors Affecting Pricing
Decisions
Internal Factors Affect
Pricing Decisions
• Cost. It is the base for the price that can be
charged for products and services. When
setting the prices, a company should cover
both fixed and variable costs.
• Marketing mix strategy. price is important
marketing mix tool that helps to achieve the
marketing objectives. Price decisions
coordination product, placement
and promotion decisions must be coordinated
• marketing objectives of your company like
your target market and positioning strategies
• Product Life Cycle. Different stages of
product life cycle affect the pricing decisions
• Image of the Firm. Another factor affects
the pricing decision is the image and
goodwill of the company.
External Factors Affect
Pricing Decision
• Competition. When setting the product
price, the company must understand the
level of competition in the market.
• Consumers. When fixing the price keep in
mind the consumer purchasing power and
price sensitivity.
• Economic Conditions. The economic
factors include interest rate, inflation and
economic boom and recession.
• Government Controlled Economy is
another factor to be considered.
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BUSINESS SCHOOL Bhubaneswar
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• Market-controlled price environment
– Characterized by a high level of competition, similar goods and services,
and little control over price by individual companies
• Company-controlled priced environment
– Characterized by moderate competition, well differentiated goods and
services, and strong control over price by individual firms
• Government-controlled price environment
– Characterized by prices set by the government. Examples are public
utilities, buses, taxis, and state universities
• ( Markup is the difference between the cost of a good or service and its selling
price. A markup is added on to the total cost incurred by the producer of a good
or service in order to create a profit)
Rachita Ota
4. AMITY GLOBAL
BUSINESS SCHOOL Bhubaneswar
Price Methods/Strategy
• Cost-based Price Strategy- With a cost-based price strategy, the marketer
sets prices by computing merchandise, service, and overhead costs, and then
adding the desired profit to these figures
• Demand-based Price Strategy- The marketer sets prices after researching
consumer desires and ascertaining the range of prices acceptable to the target
market
– Ecommerce websites like Amazon, Flipkart, etc. use this strategy to remarket their products
to the window shoppers.
• Competition-based Price Strategy (Going-rate Pricing)- The marketer sets
prices in accordance with competitors Prices may be below the market, at the
market, or above the market, depending on customer loyalty, services
provided, image, real or perceived differences between brands or stores, and
the competitive environment
• Product mix pricing:
– Product Line Pricing – Price of whole line is set to establish perceived quality differences
that justify the price differences.
– Captive Pricing - Base product price is lower where Captive Product price is High.
– Optional-feature pricing: Many companies offer optional products, features, and services
with their main product. Mostly seen in Automobile industry.
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5. AMITY GLOBAL
BUSINESS SCHOOL Bhubaneswar
• Two-part Pricing: Service firms engage in two-part pricing, consisting of a fixed
fee plus a variable usage fee. –
– Eg. Hospital have Fix room charge and extra charge for Doctor’s Visit, medicine, Food
etc. •
• By-product Pricing: In certain Production Process by Product is resulted from
production of main product.
– Eg. Molasses By-Product of Sugar so, Price of Molasses is lower than price of Sugar.
• Product-bundling Pricing: Sellers often bundle products and features. Pure
bundling occurs when a firm offers its products only as a bundle.
– Eg. Multiplex provide bundle of Film Ticket + Coke + Popcorn at lower price than price
of each products individually.
– Mcdonald’s happy meal is a perfect example of bundle pricing.
• Premium Pricing - When a company introduces a new product with a competitive
advantage, it uses premium pricing strategy. The higher prices appeal competitors
to launch products into the market, the supply increases and prices fall.
– Eg. Branded unleaded petrol is sold at a higher price than regular unleaded petrol. The consumer
never gets to test if the branded is better, yet he buys the branded offering thinking if it’s expensive, it
must be better. 344
6. AMITY GLOBAL
BUSINESS SCHOOL Bhubaneswar
• Market skimming- This pricing strategy is also known as price creaming. Market
skimming pricing involves charging a high price for new products because the
customer is new and unique so (hopefully) the consumers will be willing to pay higher
prices for them.
Eg. Smartphones (both iPhones and Android) are introduced in the market at a
higher price, but the price is reduced as the time passes.
• Market Penetration- Penetration pricing is used by firms who are trying to establish
themselves in a new market and gain instant market share usually use this strategy. It is
based around the idea that a company will set their prices low to encourage customers
to buy their products instead of higher priced, more established brands.
Eg. - Oneplus launched its flagship product Oneplus 1, which had all the features of an iPhone, at a highly
affordable price of $299. Once the company acquired a good market share, it started launching its products
at a premium. The recent phones from Oneplus are priced in the range of $500-$700.
• Value Pricing- Companies have adopted value pricing in which they win loyal
customers by charging a fairly low price for a high quality offering. It is not simply
setting lower prices it is a matter of reengineering the company’s operations to become
a low cost producer without sacrificing quality.
– Everyday low pricing (EDLP), High-low pricing
– (Wal-Mart, Big Bazaar, Peter England)
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7. AMITY GLOBAL
BUSINESS SCHOOL Bhubaneswar
• Psychological pricing - Psychological pricing refers to the psychological pricing
strategies marketers use to make customers buy the products, triggered by
emotions rather than logic. Such strategies come in the form of:
Charm Pricing: This involves reducing the price by a minimal amount (say 1 cent) which makes
the customer perceive the price to be less. For example – the price of a $3 product is set as $2.99
in supermarkets as customers’ brains process $2.99 to be nearer to $2 and not $3.
Prestige Pricing: This involves rounding off and setting a higher price for premium and exclusive
products as rounded figures are easily processed and are preferred in such cases.
BOGOF: Buy one, get one free offers trigger the greed among the customers as they get two
products for the price of one. This strategy is often used to clear up the stock or increase the
volume of sales.
Price Anchoring: Anchor is the first (higher or lower) price communicated to the customer to
make their mind revolve around that price and buy the product the retailer wants. For example –
printing double price label showing a regular price and a sale price, keeping a higher priced and
medium quality product along with a lower priced but good quality product to increase its sale,
etc.
• Freemium is an Internet-based pricing strategy where basic services are
provided free of charge but charges are levied on additional premium
features.
– Eg. Candy Crush Saga is a great example of freemium pricing strategy where the game is
provided for free but a price is levied if you want more lives to play.
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8. AMITY GLOBAL
BUSINESS SCHOOL Bhubaneswar
• Pay What You Want - Pay what you want is a pricing strategy where the
power of deciding the price of a product is given to the buyers, who pay
their desired amounts for a product, which could even be zero.
Unlike how it seems, this pricing strategy often leads to more profits and
increased market share as most of the customers pay amounts which are
more than the cost price of the product.
Eg. Panera Bread Co. restaurant in the St. Louis is a famous example of a business operating
successfully using the pay-what-you-want pricing strategy.
• Predatory pricing, or below the cost pricing, is an aggressive pricing
strategy of setting the prices low to a point where the offering is not even
profitable, just in an attempt to eliminate the competition and get the most
market share.
• Eg. A perfect example of a company adopting a predatory pricing strategy is
Amazon which, in 2013, offered books at a price less than the cost price and even
shipped it for free just to win over the traditional brick-and-mortar competitors.
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Promotional Pricing
• Loss-leader pricing- Supermarkets and department stores often
drop the price on well-known brands to increase additional store
traffic
• Special event pricing- Sellers will establish special prices in
certain seasons to draw in more customers
• Psychological discounting- It involves setting an artificial high
price and then offering the product at a less price. (Big Bazaar)
• Cash Rebates
• Longer Payment terms
• Low-interest financing
• Warranties & service contracts
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BUSINESS SCHOOL Bhubaneswar
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Differentiated Pricing
• Price discrimination- It occurs when a company sells a product or
service at different prices
– Customer segment pricing- Different customer groups pay
different prices for the same product or service. (Museums, Parks)
– Product form & Image Pricing- Many retail stores may sell
men’s shirts in many styles, fabrics and levels of quality at different
prices
– Channel Pricing- Coca-Cola, Pepsi, Nescafe etc carries a
different price depending on whether the consumer purchases in a
restaurant or a vending machine
– Location Pricing, Geographic Pricing
– Time Pricing
Rachita Ota