Value based pricing ppt -final-chattanooga
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This document outlines a 4-step process for value-based pricing for digital agencies: 1) Identify the customer's gap between their current and desired future state, including challenges and goals. 2) Calculate the lifetime value of the customer relationship and the cost of acquiring new customers to understand the true value of the project. 3) Collaboratively develop a strategic and differentiated solution that aligns with the customer's goals. 4) Create a compelling offer that integrates all previous steps and is seen as unique.
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Value Based Pricing Strategy PowerPoint Presentation Slides
Presenting this set of slides with name - Value Based Pricing Strategy Powerpoint Presentation Slides. Our topic specific Value Based Pricing Strategy Powerpoint Presentation Slides deck contains twenty four slides to formulate the topic with a sound understanding. This PPT deck is what you can bank upon. With diverse and professional slides at your side, worry the least for a powerpack presentation. A range of editable and ready to use slides with all sorts of relevant charts and graphs, overviews, topics subtopics templates, and analysis templates makes it all the more worth. This deck displays creative and professional looking slides of all sorts. Whether you are a member of an assigned team or a designated official on the look out for impacting slides, it caters to every professional field.
What is value based pricing
This document discusses value-based pricing. It begins by defining price and explaining how price communicates value to customers. It then outlines common pricing methodologies like cost-plus and competitor-based pricing. Value-based pricing is defined as designing prices based on the distinct worth a product or service holds for each customer. This ensures all parties understand and benefit from the value. The document argues that value-based pricing allows companies to increase prices by aligning prices with the real benefits customers receive. It also notes that value-based pricing requires deep customer understanding and a company-wide focus on delivering superior value.
Pricing Innovations: Value Based Pricing
Value Based Pricing has four structures:
Product structure: How value is created and perceived
Offer structure: How value is offered and accessed
Pricing structure: How value is monetized and realized
Cost structure: How value provides competitiveness and profitability.
And a pricing plan has three components: pricing structure, pricing model, pricing window.
When you need to execute a price increase (and make it stick!)
How to get your price increase communicated, executed, and still keep your customers. A guide for sales executives and their managers or any business owner who needed to pass along a price increase and was scared to do it! Managing the process of implementing a periodic price (or costs) increase can be harrowing, but it should be a normal part business life. All too often though, we see increases deployed with mixed results.
The good news is there are steps you can take to ensure your price increase “sticks” and so do your customers. During the series, we will answer some of the most common questions on the topic. We will share our experiences and suggest some smart moves to make, while warning you about a few dumb ones to avoid. Enjoy!
Value based negotiation pricing
This document provides an overview of value-based sales and negotiation strategies. It discusses determining customer value, understanding the buying center, crafting appropriate deals, and negotiating profitably. Effective negotiators must understand different buyer types like price, relationship, and value buyers and how to negotiate with each. Companies should anchor pricing to customer value and educate buyers on what value they receive. Salespeople also need training to focus on value rather than price when discussing offerings with customers.
Value Pricing - Getting the Price you Deserve
This webinar covers the fundamentals of Value Pricing so that participants can:
Understand the relationship of pricing with the other elements of the marketing mix.
Achieve the value you deserve through optimal pricing strategies that maximize profits.
Ensure that marketing is more proactive to optimize value for new products and maintaining value over different life cycles.
Price strategy
This document discusses various pricing strategies and policies that companies use to price their products and services. It begins by defining pricing and explaining factors that affect pricing decisions like costs, competition, and company objectives. It then outlines several common pricing strategies such as penetration pricing, skimming pricing, competition pricing, bundle pricing, psychological pricing, and premium pricing. For each strategy, it provides a brief definition and example to illustrate how that strategy can be implemented. The document provides an in-depth overview of different approaches to setting prices.
Pricing Concepts
Contents
Pricing Definition
Pricing Philosophy
Pricing Goals
Factors Affecting Pricing Decision
Pricing Strategies
Pricing Tools
Conclusion
Recommended
Value Based Pricing Strategy PowerPoint Presentation Slides
Presenting this set of slides with name - Value Based Pricing Strategy Powerpoint Presentation Slides. Our topic specific Value Based Pricing Strategy Powerpoint Presentation Slides deck contains twenty four slides to formulate the topic with a sound understanding. This PPT deck is what you can bank upon. With diverse and professional slides at your side, worry the least for a powerpack presentation. A range of editable and ready to use slides with all sorts of relevant charts and graphs, overviews, topics subtopics templates, and analysis templates makes it all the more worth. This deck displays creative and professional looking slides of all sorts. Whether you are a member of an assigned team or a designated official on the look out for impacting slides, it caters to every professional field.
What is value based pricing
This document discusses value-based pricing. It begins by defining price and explaining how price communicates value to customers. It then outlines common pricing methodologies like cost-plus and competitor-based pricing. Value-based pricing is defined as designing prices based on the distinct worth a product or service holds for each customer. This ensures all parties understand and benefit from the value. The document argues that value-based pricing allows companies to increase prices by aligning prices with the real benefits customers receive. It also notes that value-based pricing requires deep customer understanding and a company-wide focus on delivering superior value.
Pricing Innovations: Value Based Pricing
Value Based Pricing has four structures:
Product structure: How value is created and perceived
Offer structure: How value is offered and accessed
Pricing structure: How value is monetized and realized
Cost structure: How value provides competitiveness and profitability.
And a pricing plan has three components: pricing structure, pricing model, pricing window.
When you need to execute a price increase (and make it stick!)
How to get your price increase communicated, executed, and still keep your customers. A guide for sales executives and their managers or any business owner who needed to pass along a price increase and was scared to do it! Managing the process of implementing a periodic price (or costs) increase can be harrowing, but it should be a normal part business life. All too often though, we see increases deployed with mixed results.
The good news is there are steps you can take to ensure your price increase “sticks” and so do your customers. During the series, we will answer some of the most common questions on the topic. We will share our experiences and suggest some smart moves to make, while warning you about a few dumb ones to avoid. Enjoy!
Value based negotiation pricing
This document provides an overview of value-based sales and negotiation strategies. It discusses determining customer value, understanding the buying center, crafting appropriate deals, and negotiating profitably. Effective negotiators must understand different buyer types like price, relationship, and value buyers and how to negotiate with each. Companies should anchor pricing to customer value and educate buyers on what value they receive. Salespeople also need training to focus on value rather than price when discussing offerings with customers.
Value Pricing - Getting the Price you Deserve
This webinar covers the fundamentals of Value Pricing so that participants can:
Understand the relationship of pricing with the other elements of the marketing mix.
Achieve the value you deserve through optimal pricing strategies that maximize profits.
Ensure that marketing is more proactive to optimize value for new products and maintaining value over different life cycles.
Price strategy
This document discusses various pricing strategies and policies that companies use to price their products and services. It begins by defining pricing and explaining factors that affect pricing decisions like costs, competition, and company objectives. It then outlines several common pricing strategies such as penetration pricing, skimming pricing, competition pricing, bundle pricing, psychological pricing, and premium pricing. For each strategy, it provides a brief definition and example to illustrate how that strategy can be implemented. The document provides an in-depth overview of different approaches to setting prices.
Pricing Concepts
Contents
Pricing Definition
Pricing Philosophy
Pricing Goals
Factors Affecting Pricing Decision
Pricing Strategies
Pricing Tools
Conclusion
Pricing strategies feb(1)
The document discusses several pricing strategies including penetration pricing, market skimming, value pricing, loss leader pricing, psychological pricing, going rate pricing, tender pricing, price discrimination, and destroyer pricing. Penetration pricing uses a low initial price to gain market share, while market skimming uses a high initial price for new products. Value pricing sets prices according to customer perceptions of worth.
Best practice in pricing processes
This document reviews best practice in pricing processes to provide a reference against which current practices and proposals can be tested. Our objectives have been: to research the attributes of world-class pricing through publications and academic sources; to investigate how these attributes are applied in practice to products and services; to assess pricing processes in successful businesses.
In recent years a new attitude toward pricing has emerged. Deregulation and international free trade agreements have increased competition. Price promotion has eroded the power of brand loyalty. Pricing has assumed greater importance to most businesses.
As markets increasingly assume a global dimension, customers can more easily compare prices between one region or country and another, using the internet or a fax machine. They can often locate the same product, or an
acceptable substitute, from another source. Customers are more demanding and fickle, and their expectations increasingly difficult to fulfil.
Price inflation in western economies is now at its lowest for decades. Price increases are no longer accepted without protest from customers, if at all.
The Chairman of General Electric has predicted the onset of the ‘Value Decade’. Global price competition will strengthen because of: reduced product differentiation; global over-capacity for production; significantly diminished trade barriers; efficient information and distribution systems; providing customers with easy access to the prices of suppliers; a growing lack of customers’ loyalty to individual suppliers. Choice will be increasingly driven by price.
This is a challenging scenario that reinforces the need for an integrated strategy and concerted managerial action on pricing.
Pricing processes have lagged behind developments in the market place. They are often characterised by internal conflict between accountants wishing to maximise profit per unit and marketing specialists who seek to maximise
throughput. They are also affected by the potential for strained relations with good customers.
Some companies have downsized their operations to a level where diminishing returns cause them to question the benefits of continuing to focus upon reducing costs. As they switch their attention from cost cutting to adding
value, pricing naturally assumes increased weight in the marketing mix.
We have found many companies reluctant to discuss their own processes.
Some may wish to avoid betraying a lack of sophistication.
Chapter 10 (pricing strategy)
This document discusses pricing strategy and methods. It covers various approaches to initially setting prices such as cost-based, competitor-based, and customer value-based pricing. Factors that influence pricing decisions are also examined, including price sensitivity of customers. The document outlines how companies can initiate price changes and strategies for responding to price wars initiated by competitors.
Kotler pom 13e_im_10
This chapter discusses pricing strategies and the importance of understanding customer value perceptions when setting prices. It examines factors companies must consider, including costs, demand, competitors' prices, and overall marketing strategy. The chapter also explores different pricing approaches like value-based pricing, which uses customers' perceptions of value rather than production costs. Cost-based pricing sets prices by adding a markup to costs.
Strategic Pricing - International CEO Forum 2011
Strategic pricing - driving improved profitability and earnings growth. Presented by Ron Wood, Director of Pricing Insight at the International CEO Forum, 18th October 2011
Promotional pricing strategies
This document discusses various sales and marketing strategies used by businesses including loss leaders, anniversary offers, loyalty programs, rebates, installment plans, extended warranties, reference pricing, and captive strategies. It provides examples and definitions for each type of strategy.
Pricing Strategies Guide - How To Define Pricing
You may ask this:
1 do amazon use dynamic pricing
2 do apple use premium pricing
3 do forms pricing
4 do it yourself fiberglass pools pricing
5 do pricing
6 do pricing errors have to be honored
7 do taxis have surge pricing
8 do the math pricing
9 do underwriters compete in ipo pricing
10 doterra pricing
11 how can collusion affect pricing in an oligopoly
12 how can i get gm employee pricing
13 how can pricing policy affect a business
14 how does uber pricing work
15 how much is education pricing for apple
16 how much is ford a plan pricing
17 how much is ford employee pricing
18 how much is gm employee pricing
19 how much is gm preferred pricing
20 how much is gm supplier pricing
21 how much is surge pricing
22 how much is uber pricing
23 how much is uber surge pricing
24 how much is x plan pricing
25 how to audit transfer pricing
26 how to be a pricing analyst
27 how to cost plus pricing
28 how to costing and pricing
29 how to define pricing
30 how to garage sale pricing
31 how to mark up pricing
32 how to photography pricing
33 how to pricing a product
34 how to pricing strategy
35 how to structure pricing
36 how to transfer pricing
37 pay-what-you-want pricing can it be profitable
38 should businesses use target pricing
39 should cost pricing
40 should cost pricing model
41 should fixed costs be considered in pricing
42 should i put pricing on my website
43 should predatory pricing be an illegal strategy
44 should pricing decisions remain with the players
45 should we be pricing ecosystem services
46 what are the various objectives that pricing can achieve
47 what factors should be considered in pricing
48 what is bundle pricing and why would it be used
49 what is capital asset pricing model
50 what is cost based pricing
51 what is cost plus pricing
52 what is penetration pricing
53 what is pricing policy
54 what is pricing strategy
55 what is psychological pricing
56 what is surge pricing
57 what is transfer pricing
58 what is transfer pricing and how can it benefit a company
ESOMAR Workshop "The art of pricing"
The document discusses strategic pricing and summarizes key lessons from pricing research. It finds that price has a greater impact on profits than other factors like costs. Setting the right price is important to influence sales volume, revenue, and profitability. Pricing research shows consumers are more sensitive to price decreases than increases. Promotions are on average 60% more effective at driving sales than price decreases. The type of promotion framing and tier distances impact effectiveness. Frequent promotions can increase fragility in terms of regular price and promotion sensitivity over time. In summary, strategic pricing research is important to set optimal prices, understand consumer sensitivity, and maximize profits through effective promotional strategies.
What is value based pricing?
This document defines and explains the concepts of value-based pricing. It discusses that value-based pricing sets the price based on the value an offering delivers to customers compared to their next best alternative. It notes that value is customer-specific, measured in currency, and relative to the next best alternative. The document also discusses how understanding value is important for proper customer segmentation, targeting the right segments, and developing products customers are willing to buy. It provides an example of how willingness to pay is driven by the sense of loss if a customer's need is not resolved. Finally, it states that once value is defined, customers' willingness to pay is determined, and there is interest in a segment, an offering can be designed to deliver
Kick Start 2012 with Pricing
What is your company's pricing capability? How do we protect and expand revenue and profits? What can we do to drive short term and long term margin improvements? Pricing Insight can help.
Pricing decisions
Pricing Decisions - Introduction to Pricing, Pricing methods, Pricing procedure and pricing strategies
Pricing Method and Pricing Strategies
Pricing is the method used by producers to determine the value of goods and services. There are various pricing strategies that can be used including penetration pricing, which sets low initial prices to gain market share, and premium pricing, which positions products as exclusive through higher prices. The document also outlines other strategies such as competition pricing, product line pricing, and bundle pricing.
Pricing Strategies
This chapter discusses strategies for setting prices, including selecting a pricing objective, determining demand and costs, analyzing competitors, and selecting a pricing method. It covers different types of costs like fixed and variable costs. The three C's model for price setting considers costs, competitors' prices, and customers' perceptions. Various pricing methods are outlined like markup pricing, target return pricing, and perceived value pricing. The chapter also discusses promotional pricing strategies and psychological factors that influence pricing.
Chapter 11 - Pricing
The document discusses various principles of pricing, including:
1) Pricing is the assignment of value for a good or service that customers must pay to acquire it. Price captures some of the value created and is an important marketing lever.
2) Non-monetary costs like time, convenience and psychological factors influence customer perceptions of value and must be considered in pricing.
3) Developing pricing strategies requires understanding demand, costs, competitors and evaluating the business environment. Common strategies include cost-based, demand-based, yield management and competition-based approaches.
Pricing
This Presentation Includes following Topics:
Factors Affecting Price Decisions, Cost Based Pricing, Value-Based and Competition-Based Pricing, Product Mix Pricing Strategies, Adjusting the Price of the Product, Initiating and Responding to the Price Changes,
Strategic pricing for product managers
This document discusses the role of strategic pricing for product managers. It begins by covering the need for strategic pricing to anticipate market changes rather than just reacting. It then discusses basic economic concepts for pricing like estimating demand curves and revenue maximization. It also covers common pricing techniques like cost-based, customer-based, and market-based pricing. The document emphasizes that value-based, proactive, and profit-driven strategies are most effective. It provides steps for identifying customer value drivers, estimating economic value, and using techniques like conjoint analysis to understand willingness to pay. Finally, it discusses the key role of product managers in collaborating across functions to define value propositions and drive strategic pricing based on market and customer insights.
Pricing Strategy & Tactics V.2
The document discusses pricing strategy and tactics. It argues that profitable pricing depends more on effectively communicating the value of products and services to customers rather than precise measurement. A customer-focused approach that understands customer values and needs is more effective than a product-focused approach. Key considerations for pricing include comprehending customer value drivers, creating and communicating value to convince customers of needing to pay for that value, and capturing value through effective pricing tactics.
The art of pricing by Rafi Mohammed
The document discusses pricing strategies and techniques. It introduces the author, Rafi Mohammed, and his book on finding hidden profits through multi-pricing approaches. Some key strategies discussed include differential pricing based on customer characteristics, versioning to capitalize on different customer valuations, segment-based pricing using methods like bundling and leasing, and psychological pricing techniques like anchoring and using nine and zero pricing. It also provides an example of how Ford improved profits 1-3% by empowering salespeople, using promotions, cross-selling financing, and restructuring fleet sales mixes.
Developing pricing strategies and programs marketing
The document discusses developing pricing strategies and programs. It begins by defining pricing and providing synonyms. It then explores how the internet has changed pricing environments by allowing sellers to discriminate between buyers and buyers between sellers. Common pricing mistakes are outlined. The document provides details on consumer psychology and reference prices. Finally, it presents a six step process for setting prices: selecting objectives, determining demand, estimating costs, analyzing competitors, selecting pricing methods, and selecting the final price. It also discusses adapting prices through geographical, promotional, and differentiated pricing.
Pricing for value
The document discusses different pricing strategies and concepts for establishing the value of a product. It describes value-based pricing, where the price is set at the perceived value to the customer. It also covers cost-based pricing, where the price is calculated by adding manufacturing costs and a percentage of profit. Additionally, it discusses market-based pricing, which establishes price based on existing market conditions, and competitor-based pricing, where the price is set based on what competitors charge. The key factors in determining pricing decisions and different pricing strategies for new products are also outlined.
BreakEven
Break-even analysis is used to predict future profits and losses and determine the break-even point, where total revenue equals total costs. There are two types of costs - variable costs that change with production and fixed costs that remain constant. To calculate break-even point, total costs (fixed + variable) are set equal to total revenue. This point is illustrated with a break-even chart and shows the quantity that must be sold to cover total costs without profit or loss. Above this point are profits and below are losses. Assumptions of the analysis include constant prices and costs and that all production will be sold. Limitations include difficulty identifying some cost types and assumptions of stability.
Break even points
The document discusses break-even analysis, which is used for planning and control. It defines fixed and variable costs and how they relate to sales volume. An example is provided to calculate the break-even point for a bagel shop in terms of number of meals needed to cover annual fixed costs of $81,650. The break-even point is calculated as 54,073 meals per year or 149 meals per day.
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Pricing strategies feb(1)
The document discusses several pricing strategies including penetration pricing, market skimming, value pricing, loss leader pricing, psychological pricing, going rate pricing, tender pricing, price discrimination, and destroyer pricing. Penetration pricing uses a low initial price to gain market share, while market skimming uses a high initial price for new products. Value pricing sets prices according to customer perceptions of worth.
Best practice in pricing processes
This document reviews best practice in pricing processes to provide a reference against which current practices and proposals can be tested. Our objectives have been: to research the attributes of world-class pricing through publications and academic sources; to investigate how these attributes are applied in practice to products and services; to assess pricing processes in successful businesses.
In recent years a new attitude toward pricing has emerged. Deregulation and international free trade agreements have increased competition. Price promotion has eroded the power of brand loyalty. Pricing has assumed greater importance to most businesses.
As markets increasingly assume a global dimension, customers can more easily compare prices between one region or country and another, using the internet or a fax machine. They can often locate the same product, or an
acceptable substitute, from another source. Customers are more demanding and fickle, and their expectations increasingly difficult to fulfil.
Price inflation in western economies is now at its lowest for decades. Price increases are no longer accepted without protest from customers, if at all.
The Chairman of General Electric has predicted the onset of the ‘Value Decade’. Global price competition will strengthen because of: reduced product differentiation; global over-capacity for production; significantly diminished trade barriers; efficient information and distribution systems; providing customers with easy access to the prices of suppliers; a growing lack of customers’ loyalty to individual suppliers. Choice will be increasingly driven by price.
This is a challenging scenario that reinforces the need for an integrated strategy and concerted managerial action on pricing.
Pricing processes have lagged behind developments in the market place. They are often characterised by internal conflict between accountants wishing to maximise profit per unit and marketing specialists who seek to maximise
throughput. They are also affected by the potential for strained relations with good customers.
Some companies have downsized their operations to a level where diminishing returns cause them to question the benefits of continuing to focus upon reducing costs. As they switch their attention from cost cutting to adding
value, pricing naturally assumes increased weight in the marketing mix.
We have found many companies reluctant to discuss their own processes.
Some may wish to avoid betraying a lack of sophistication.
Chapter 10 (pricing strategy)
This document discusses pricing strategy and methods. It covers various approaches to initially setting prices such as cost-based, competitor-based, and customer value-based pricing. Factors that influence pricing decisions are also examined, including price sensitivity of customers. The document outlines how companies can initiate price changes and strategies for responding to price wars initiated by competitors.
Kotler pom 13e_im_10
This chapter discusses pricing strategies and the importance of understanding customer value perceptions when setting prices. It examines factors companies must consider, including costs, demand, competitors' prices, and overall marketing strategy. The chapter also explores different pricing approaches like value-based pricing, which uses customers' perceptions of value rather than production costs. Cost-based pricing sets prices by adding a markup to costs.
Strategic Pricing - International CEO Forum 2011
Strategic pricing - driving improved profitability and earnings growth. Presented by Ron Wood, Director of Pricing Insight at the International CEO Forum, 18th October 2011
Promotional pricing strategies
This document discusses various sales and marketing strategies used by businesses including loss leaders, anniversary offers, loyalty programs, rebates, installment plans, extended warranties, reference pricing, and captive strategies. It provides examples and definitions for each type of strategy.
Pricing Strategies Guide - How To Define Pricing
You may ask this:
1 do amazon use dynamic pricing
2 do apple use premium pricing
3 do forms pricing
4 do it yourself fiberglass pools pricing
5 do pricing
6 do pricing errors have to be honored
7 do taxis have surge pricing
8 do the math pricing
9 do underwriters compete in ipo pricing
10 doterra pricing
11 how can collusion affect pricing in an oligopoly
12 how can i get gm employee pricing
13 how can pricing policy affect a business
14 how does uber pricing work
15 how much is education pricing for apple
16 how much is ford a plan pricing
17 how much is ford employee pricing
18 how much is gm employee pricing
19 how much is gm preferred pricing
20 how much is gm supplier pricing
21 how much is surge pricing
22 how much is uber pricing
23 how much is uber surge pricing
24 how much is x plan pricing
25 how to audit transfer pricing
26 how to be a pricing analyst
27 how to cost plus pricing
28 how to costing and pricing
29 how to define pricing
30 how to garage sale pricing
31 how to mark up pricing
32 how to photography pricing
33 how to pricing a product
34 how to pricing strategy
35 how to structure pricing
36 how to transfer pricing
37 pay-what-you-want pricing can it be profitable
38 should businesses use target pricing
39 should cost pricing
40 should cost pricing model
41 should fixed costs be considered in pricing
42 should i put pricing on my website
43 should predatory pricing be an illegal strategy
44 should pricing decisions remain with the players
45 should we be pricing ecosystem services
46 what are the various objectives that pricing can achieve
47 what factors should be considered in pricing
48 what is bundle pricing and why would it be used
49 what is capital asset pricing model
50 what is cost based pricing
51 what is cost plus pricing
52 what is penetration pricing
53 what is pricing policy
54 what is pricing strategy
55 what is psychological pricing
56 what is surge pricing
57 what is transfer pricing
58 what is transfer pricing and how can it benefit a company
ESOMAR Workshop "The art of pricing"
The document discusses strategic pricing and summarizes key lessons from pricing research. It finds that price has a greater impact on profits than other factors like costs. Setting the right price is important to influence sales volume, revenue, and profitability. Pricing research shows consumers are more sensitive to price decreases than increases. Promotions are on average 60% more effective at driving sales than price decreases. The type of promotion framing and tier distances impact effectiveness. Frequent promotions can increase fragility in terms of regular price and promotion sensitivity over time. In summary, strategic pricing research is important to set optimal prices, understand consumer sensitivity, and maximize profits through effective promotional strategies.
What is value based pricing?
This document defines and explains the concepts of value-based pricing. It discusses that value-based pricing sets the price based on the value an offering delivers to customers compared to their next best alternative. It notes that value is customer-specific, measured in currency, and relative to the next best alternative. The document also discusses how understanding value is important for proper customer segmentation, targeting the right segments, and developing products customers are willing to buy. It provides an example of how willingness to pay is driven by the sense of loss if a customer's need is not resolved. Finally, it states that once value is defined, customers' willingness to pay is determined, and there is interest in a segment, an offering can be designed to deliver
Kick Start 2012 with Pricing
What is your company's pricing capability? How do we protect and expand revenue and profits? What can we do to drive short term and long term margin improvements? Pricing Insight can help.
Pricing decisions
Pricing Decisions - Introduction to Pricing, Pricing methods, Pricing procedure and pricing strategies
Pricing Method and Pricing Strategies
Pricing is the method used by producers to determine the value of goods and services. There are various pricing strategies that can be used including penetration pricing, which sets low initial prices to gain market share, and premium pricing, which positions products as exclusive through higher prices. The document also outlines other strategies such as competition pricing, product line pricing, and bundle pricing.
Pricing Strategies
This chapter discusses strategies for setting prices, including selecting a pricing objective, determining demand and costs, analyzing competitors, and selecting a pricing method. It covers different types of costs like fixed and variable costs. The three C's model for price setting considers costs, competitors' prices, and customers' perceptions. Various pricing methods are outlined like markup pricing, target return pricing, and perceived value pricing. The chapter also discusses promotional pricing strategies and psychological factors that influence pricing.
Chapter 11 - Pricing
The document discusses various principles of pricing, including:
1) Pricing is the assignment of value for a good or service that customers must pay to acquire it. Price captures some of the value created and is an important marketing lever.
2) Non-monetary costs like time, convenience and psychological factors influence customer perceptions of value and must be considered in pricing.
3) Developing pricing strategies requires understanding demand, costs, competitors and evaluating the business environment. Common strategies include cost-based, demand-based, yield management and competition-based approaches.
Pricing
This Presentation Includes following Topics:
Factors Affecting Price Decisions, Cost Based Pricing, Value-Based and Competition-Based Pricing, Product Mix Pricing Strategies, Adjusting the Price of the Product, Initiating and Responding to the Price Changes,
Strategic pricing for product managers
This document discusses the role of strategic pricing for product managers. It begins by covering the need for strategic pricing to anticipate market changes rather than just reacting. It then discusses basic economic concepts for pricing like estimating demand curves and revenue maximization. It also covers common pricing techniques like cost-based, customer-based, and market-based pricing. The document emphasizes that value-based, proactive, and profit-driven strategies are most effective. It provides steps for identifying customer value drivers, estimating economic value, and using techniques like conjoint analysis to understand willingness to pay. Finally, it discusses the key role of product managers in collaborating across functions to define value propositions and drive strategic pricing based on market and customer insights.
Pricing Strategy & Tactics V.2
The document discusses pricing strategy and tactics. It argues that profitable pricing depends more on effectively communicating the value of products and services to customers rather than precise measurement. A customer-focused approach that understands customer values and needs is more effective than a product-focused approach. Key considerations for pricing include comprehending customer value drivers, creating and communicating value to convince customers of needing to pay for that value, and capturing value through effective pricing tactics.
The art of pricing by Rafi Mohammed
The document discusses pricing strategies and techniques. It introduces the author, Rafi Mohammed, and his book on finding hidden profits through multi-pricing approaches. Some key strategies discussed include differential pricing based on customer characteristics, versioning to capitalize on different customer valuations, segment-based pricing using methods like bundling and leasing, and psychological pricing techniques like anchoring and using nine and zero pricing. It also provides an example of how Ford improved profits 1-3% by empowering salespeople, using promotions, cross-selling financing, and restructuring fleet sales mixes.
Developing pricing strategies and programs marketing
The document discusses developing pricing strategies and programs. It begins by defining pricing and providing synonyms. It then explores how the internet has changed pricing environments by allowing sellers to discriminate between buyers and buyers between sellers. Common pricing mistakes are outlined. The document provides details on consumer psychology and reference prices. Finally, it presents a six step process for setting prices: selecting objectives, determining demand, estimating costs, analyzing competitors, selecting pricing methods, and selecting the final price. It also discusses adapting prices through geographical, promotional, and differentiated pricing.
Pricing for value
The document discusses different pricing strategies and concepts for establishing the value of a product. It describes value-based pricing, where the price is set at the perceived value to the customer. It also covers cost-based pricing, where the price is calculated by adding manufacturing costs and a percentage of profit. Additionally, it discusses market-based pricing, which establishes price based on existing market conditions, and competitor-based pricing, where the price is set based on what competitors charge. The key factors in determining pricing decisions and different pricing strategies for new products are also outlined.
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BreakEven
Break-even analysis is used to predict future profits and losses and determine the break-even point, where total revenue equals total costs. There are two types of costs - variable costs that change with production and fixed costs that remain constant. To calculate break-even point, total costs (fixed + variable) are set equal to total revenue. This point is illustrated with a break-even chart and shows the quantity that must be sold to cover total costs without profit or loss. Above this point are profits and below are losses. Assumptions of the analysis include constant prices and costs and that all production will be sold. Limitations include difficulty identifying some cost types and assumptions of stability.
Break even points
The document discusses break-even analysis, which is used for planning and control. It defines fixed and variable costs and how they relate to sales volume. An example is provided to calculate the break-even point for a bagel shop in terms of number of meals needed to cover annual fixed costs of $81,650. The break-even point is calculated as 54,073 meals per year or 149 meals per day.
Break-Even Analysis and Break-Even Point
The document appears to be a student project report on break-even analysis and break-even point. It includes sections on definitions of key terms related to break-even analysis like fixed costs, variable costs, selling price. It also discusses the assumptions and limitations of break-even analysis. The document provides an example calculation of break-even point using the contribution margin method and defines break-even point as the sales volume where total revenue equals total costs and profit is zero. It is a student report submitted to the University of Mumbai for an M.Com course.
Pricing concepts
The document outlines various pricing concepts including:
1) Cost-based pricing methods like cost-plus pricing and marginal cost pricing that set price as a function of costs.
2) Competition-based pricing like penetration pricing and entry deterring pricing that are influenced by competitive dynamics.
3) Product life cycle pricing approaches such as price skimming that set different prices over a product's lifecycle stages.
4) Other concepts like multiproduct pricing, Ramsay pricing, transfer pricing, and administered pricing that involve multiple products, taxation, internal transfers, and government regulation respectively.
BREAK EVEN ANALYSIS
INFORMATION ABOUT
B.E.P.
Definition
Cost Volume Profit analysis & Application
Assumption of BEP analysis
Calculation
Method
Formula
Target profit
Margin of safety
Definition
Formula
Limitation of B.E.P.
Basic equation of Marginal Costing
Uses Of CVP Analysis
Limitations Of CVP Analysis
Profit Volume (P/V) Ratio
Marginal costing
Determination Of Marginal Cost
Features of Marginal Costing
Pricing
The document discusses various factors and strategies companies consider when setting prices. It covers internal factors like costs, objectives, and competitors as well as external factors like demand, the market, and regulations. The document also outlines three main approaches to setting prices - cost-based, value-based, and competition-based - as well as various pricing strategies companies use like discounts, price discrimination, and adjusting prices.
Pricing strategies & practices
This document discusses various pricing strategies and concepts that companies use to set prices, including penetration pricing, market skimming, value pricing, loss leader pricing, psychological pricing, price leadership, tender pricing, price discrimination, predatory pricing, absorption pricing, marginal cost pricing, contribution pricing, target pricing, and cost-plus pricing. It also covers the influence of price elasticity on pricing decisions.
COST BASED PRICING
This document discusses cost based pricing. Cost based pricing sets the price of a product based on the costs to produce it, including direct costs, indirect costs, and an additional amount for profit. The key advantages are that it is simple and flexible to adjust prices as costs change. However, it ignores factors like demand, competition, and brand positioning. There are different types of cost based pricing like cost plus pricing, full cost pricing, and target profit pricing.
BREAK-EVEN ANALYSIS
INTRODUCTION
A breakeven analysis is used to determine how much sales volume your business needs to start making a profit.
The breakeven analysis is especially useful when you're developing a pricing strategy, either as part of a marketing plan or a business plan.
In economics & business, specifically cost accounting, the break-even point (BEP) is the point at which cost or expenses and revenue are equal: there is no net loss or gain, and one has "broken even".
Total cost = Total revenue = B.E.P.
Break even analysis
Break-even analysis examines the costs and revenues of a product to determine the quantity that needs to be sold to break even. It can be used to compare different production options and determine the best scenario. The analysis involves calculating fixed and variable costs to find the break-even point and profit levels using algebraic equations or graphical displays. It is an important tool for deciding whether a product or production method will be cost effective.
PPT on break even analysis
Cost-volume-profit analysis examines how changes in costs and sales volume affect a company's profit. It helps management make decisions about pricing, production levels, and facility choice. It shows how volume impacts total costs and profits. Key assumptions are accurate classification of fixed and variable costs and linear relationships. The breakeven point is where sales revenue equals total costs, with no profit or loss. Margin of safety is the difference between actual and breakeven sales levels, indicating a business's soundness.
Break even analysis
This document discusses break-even analysis, which is used to determine the sales volume needed for a company to cover its total costs. It defines break-even as the point where total revenue equals total costs, with no profit or loss. The formula for calculating break-even point is provided as fixed costs divided by contribution per unit. Examples are given of calculating break-even points based on variable costs, fixed costs, and unit price. Advantages and limitations of break-even analysis are also summarized.
Break Even Analysis
A breakeven analysis is used to determine how much sales volume your business needs to start making a profit.
The breakeven analysis is especially useful when you're developing a pricing strategy, either as part of a marketing plan or a business plan.
Pricing Ppt
Price is a key element of the marketing mix that generates revenue. It communicates the value of a product and is determined based on customer perceived value and costs. When setting prices, companies analyze factors like demand, costs, competition and select objectives like profit maximization. Appropriate pricing requires estimating demand curves and price elasticity to understand customer sensitivity.
Pricing Strategy ppt
What is Pricing Strategy and what are the objectives and factors affecting the Pricing Strategy.
There are Certain types of Pricing Strategies as well. Each and every strategy has its own affect on the product and services offered by an organization.
Break even analysis
This document discusses break even analysis, including cost-volume-profit (CVP) analysis, contribution, break even point, margin of safety, and break even charts. It defines key terms like contribution, break even point, and margin of safety. The break even point is where total sales equal total variable costs plus fixed costs. Margin of safety is the point above which profit is made. Break even charts graphically show the break even point and relationship between costs, sales, and activity levels. The document also covers multi-product break even analysis and the limitations of CVP analysis.
Pricing Strategies
The document discusses various pricing strategies and approaches. It covers factors that influence pricing decisions, both internal like costs and objectives, and external like competitors and consumer perceptions. It also describes three main approaches to determining prices: cost-based using costs of production, buyer-based using perceived value, and competition-based by considering competitors' prices. Specific pricing strategies are also outlined, like penetrating the market with low introductory prices or "skimming the cream" with high initial prices.
Pricing approaches
Full cost pricing is a method where a firm calculates the price of a product based on direct costs per unit plus overhead costs and profit margins. Overhead costs are estimated assuming less than full production capacity. There are different types of full cost pricing such as markup pricing, break-even pricing, and rate-of-return pricing. Product line pricing involves determining the lowest, highest, and differential prices for all products. Product life cycle pricing uses strategies like skimming and penetration pricing that vary based on the stage of the product's life cycle.
Break Even Analysis
This document discusses break even analysis, which determines the sales volume needed for a business to make a profit. It explains that break even analysis helps managers make informed decisions about new products, equipment, and pricing. The document provides the algebraic formula for calculating break even point and illustrates break even analysis for a company called Surf. Examples are given of Rajiv Gandhi Setu bridge, which fell short of its break even daily collection target, and Jumbo King Vada Pav restaurants, which achieved success and sustained profits through strategic franchise expansion near railway stations.
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- 1. Value-Based Pricing: Guide for Digital Agencies 4 Steps to Scoping for Higher Profits #DcCha @GeneHammett
- 3. Trusted Advisor Journal of Experimental Social Psychology Enclothied Cognition, Adam D. Galinsky and Hajo Adam
- 4. Relationships based on VALUE will last longer than relationships based on PRICE. “I love to use the lifetime value of clients’ processes with my prospects.” Melanie Romanaux, Somedia Solutions “We pride ourselves more on client relationships than the technology solutions we provide.” Randal Kent, Sevaa Group
- 6. Traditional fixed fee pricing is hard to scope for PROFITS.
- 7. Focus on Features & Functions
- 9. Who Am I? @GeneHammett • Entrepreneur • Business Coach • My Focus
- 10. Value-based pricing is just charging more…
- 13. Value-based pricing starts in the MIND.
- 14. 4 Steps to Value-Based Pricing Gap Value Solution Offer Every step has VALUE to the prospect.
- 15. VBP Step 1: Gap Gap • • • • Now vs. Future Why? Client’s drivers? Pains, challenges, breakdowns, goals, aspirations Warning: Too many begin to focus on the SOLUTION. Value Solution Offer
- 16. VBP Step 2: Value Gap Value • • Lifetime value of the client Calculate the acquisition cost for new customers Warning: Without understanding the real VALUE of the project, you will likely only scope the “traditional” way. Solution Offer
- 17. Customer Lifetime Value Pardot Example: Revenue: $1000 per month per customer Avg. Length of Customer: 5 Years Acquisition Cost: $8000 per customer David Cummings, DrupalCamp Atlanta 2013
- 18. VBP Step 3: Solution Gap Value Solution Strategic and tactical • Optimal to build it together • Differentiation is the key Warning: It should be in alignment with the customer’s goal. • Offer
- 19. VBD Step 4: Offer Gap Value Solution Offer • • Compelling Combination of all previous steps Warning: Your offer has to be seen as UNIQUE either by your experience, the approach, or skills. “Aspirin vs. Vitamins”
- 20. 4 Steps to Value-Based Pricing Gap Value Solution Offer Every step has VALUE to the prospect.
- 21. #1 Way to Do VBP Qualify 25% 90% 90% Big Project
- 22. Fear is that it is too difficult
- 23. Fear is that it is too much like accounting
- 24. Change the Conversation “Even when we were a little firm, we would immediately change the conversation to talk about their business and what are their business problems… ” Aaron Shapiro, Co-founder of Huge, Inc.
- 25. Parting Thoughts • Scoping for Higher Projects is a process • Stop Undercharging • Look at COST of them not taking your offer • Communicate ROI • Differentiate • Confidence
- 26. Which do you want to be?
- 27. Questions
- 28. And Finally... Get slides. CoreElevation.com/value/ Ask me a question. askgene.me @GeneHammett
Editor's Notes
- We introduce the term “enclothed cognition” to describe the systematic influence that clothes have on the wearer's psychological processes. We offer a potentially unifying framework to integrate past findings and capture the diverse impact that clothes can have on the wearer by proposing that enclothed cognition involves the co-occurrence of two independent factors—the symbolic meaning of the clothes and the physical experience of wearing them. As a first test of our enclothed cognition perspective, the current research explored the effects of wearing a lab coat. A pretest found that a lab coat is generally associated with attentiveness and carefulness. We therefore predicted that wearing a lab coat would increase performance on attention-related tasks. In Experiment 1, physically wearing a lab coat increased selective attention compared to not wearing a lab coat. In Experiments 2 and 3, wearing a lab coat described as a doctor's coat increased sustained attention compared to wearing a lab coat described as a painter's coat, and compared to simply seeing or even identifying with a lab coat described as a doctor's coat. Thus, the current research suggests a basic principle of enclothed cognition—it depends on both the symbolic meaning and the physical experience of wearing the clothes. Highlights ► We show how clothes systematically influence wearers' psychological processes. ► Three experiments demonstrate that wearing a lab coat increases attention. ► Attention did not increase when the coat was not worn or associated with a painter. ► Attention only increased when the coat was a) worn and b) associated with a doctor. ► The influence of clothes thus depends on wearing them and their symbolic meaning.