Downloaded 30 times
More Related Content
Retail pricing
- 1.
- 2. Retail Pricing • Concept –Integral part of retail marketing mix – Source of revenue for the retailer – Communicate the image of the retail store • Considering Factors – Demand For the product and the target market – Store policies and the image to be created – Competition for the product and the competitor’s price – Economic condition prevailing at that time
- 3. • Importance – Profit –Customer Satisfaction – Retain Positioning • Pricing options – Discount orientation – At the market orientation – Upscale orientation Retail Pricing
- 4. Factors Affecting aRetail Price Strategy External Factors – Competition – Consumers – Government control – Economic conditions – Channel intermediaries Internal Factors – Cost – The predetermined objectives – Image of the firm – Product life cycle – Credit period offered – Promotional activity
- 5. • Consumers Economicconsumers Status-oriented consumers Assortment-oriented consumer Personalizing consumers Convenience-oriented consumers • Government control Horizontal price fixing Vertical price fixing Price discrimination Minimum price law Unit pricing Item price removal External Factors
- 6. Different Types ofPricing Models Types of Pricing Model Cost Plus Pricing Competitive Pricing Penetration Pricing Premium Pricing Price Skimming Discount Pricing Psychologic al Pricing
- 7. Pricing Strategy • Usesthe customer demand to set up the price Demand Oriented • Takes into account the company's profit objectives and that covers its costs of production Cost Orientated • Setting the price of a product or service based on what the competition is charging. Competition Oriented