PowerPoint Presentation: Session 3
... The amount of profit depends on your costs, both variable and fixed, selling price, and the number of items sold or services rendered ...
... The amount of profit depends on your costs, both variable and fixed, selling price, and the number of items sold or services rendered ...
Lecture Notes
... right price, at the right time. The four 'Ps' of marketing, first expressed in 1960 by E J McCarthy are: Product (or Service) Placement Price Promotion. Product: The product aspects of marketing deal with the specifications of the actual goods or services, plus how it relates to the end user ...
... right price, at the right time. The four 'Ps' of marketing, first expressed in 1960 by E J McCarthy are: Product (or Service) Placement Price Promotion. Product: The product aspects of marketing deal with the specifications of the actual goods or services, plus how it relates to the end user ...
The Marketing Mix: Product
... wholesalers may exist, depending on the product. Occasionally, agents may also be involved. Agents usually do not handle products, but instead take care of the business aspect of negotiating with distributors, which manufacturers may feel uncomfortable or ill prepared for doing themselves. Parallel ...
... wholesalers may exist, depending on the product. Occasionally, agents may also be involved. Agents usually do not handle products, but instead take care of the business aspect of negotiating with distributors, which manufacturers may feel uncomfortable or ill prepared for doing themselves. Parallel ...
Document
... all of the tools, other than marketing research that a marketer uses to directly interact with their markets. Those tools collectively are known as the promotional mix and include advertising personal selling, sales promotion and publicity. ...
... all of the tools, other than marketing research that a marketer uses to directly interact with their markets. Those tools collectively are known as the promotional mix and include advertising personal selling, sales promotion and publicity. ...
Objectives today
... moves from urban to rural areas Uniform floor price over a wide geographic area. Result: Private traders buy the product close to the demand center but leave distant areas alone ...
... moves from urban to rural areas Uniform floor price over a wide geographic area. Result: Private traders buy the product close to the demand center but leave distant areas alone ...
Empirical Research on Sketchy Pricing
... – From participation in a market research panel (a la Lightspeed, Mintel) where consumers provide access to account/transaction/solicitation data ...
... – From participation in a market research panel (a la Lightspeed, Mintel) where consumers provide access to account/transaction/solicitation data ...
Major Pricing Strategies
... product or service. It is the sum of all the values that consumers give up in order to gain the benefits of having or using a product or service. Price is the only element in the marketing mix that produces revenue; all other elements represent costs ...
... product or service. It is the sum of all the values that consumers give up in order to gain the benefits of having or using a product or service. Price is the only element in the marketing mix that produces revenue; all other elements represent costs ...
Document
... P = $5, TR = 5 * 2 = $10 - better than under “regular” pricing This strategy works best when the valuations of different consumers for different goods or services are negatively ...
... P = $5, TR = 5 * 2 = $10 - better than under “regular” pricing This strategy works best when the valuations of different consumers for different goods or services are negatively ...
Setting the Target Market
... Cost Plus Pricing – adding a mark up to the cost of production. Competitor based – charging the same price as competitors (the market price) Skimming – high price initially. For new and unique products. • Penetration – charging a low price to get a foothold into the market. New products only. ...
... Cost Plus Pricing – adding a mark up to the cost of production. Competitor based – charging the same price as competitors (the market price) Skimming – high price initially. For new and unique products. • Penetration – charging a low price to get a foothold into the market. New products only. ...
Components of an Effective Marketing Plan
... products. Pricing is often done arbitrarily without consideration to the competition, the strategic advantages of one’s own offering and, most importantly, the costs associated with providing the product. A typical approach to small business is to draw income after the business becomes profitable bu ...
... products. Pricing is often done arbitrarily without consideration to the competition, the strategic advantages of one’s own offering and, most importantly, the costs associated with providing the product. A typical approach to small business is to draw income after the business becomes profitable bu ...
the role of pricing in the marketing mix
... # Prices for product in a line do not necessarily correspond to the cost # Example :- prices in supermarkets are based on a total mix strategy rather than individual item pricing. #Consumers tend to associate a high price with high quality, and low price with low quality (Is this ALWAYS TRUE????) # ...
... # Prices for product in a line do not necessarily correspond to the cost # Example :- prices in supermarkets are based on a total mix strategy rather than individual item pricing. #Consumers tend to associate a high price with high quality, and low price with low quality (Is this ALWAYS TRUE????) # ...
LECT180
... may say that we do not offer a better product than the competition, and the customer decision will be determinate for other elements which may in a way be subjective ( such as the containers, the colors, etc. ) and if we have a higher price, we would need to justify it with an additional something l ...
... may say that we do not offer a better product than the competition, and the customer decision will be determinate for other elements which may in a way be subjective ( such as the containers, the colors, etc. ) and if we have a higher price, we would need to justify it with an additional something l ...
Product Mix
... Brands Manufacturer brands – initiated and owned by the manufacturer to identify products from production to point of purchase. Private distributor brands – cost less than manufacturer brands; owned and controlled by wholesaler or retailer Generic brands – no brand name often come in simple package ...
... Brands Manufacturer brands – initiated and owned by the manufacturer to identify products from production to point of purchase. Private distributor brands – cost less than manufacturer brands; owned and controlled by wholesaler or retailer Generic brands – no brand name often come in simple package ...
Chapter 13 PPT - Lilian Chaves
... Cooperative advertising- allowances provided by marketers in which they share the cost of local advertising of their firm’s product or product line with channel partners. ...
... Cooperative advertising- allowances provided by marketers in which they share the cost of local advertising of their firm’s product or product line with channel partners. ...
Chapter 7 Pricing Strategies
... Value: The worth in terms of other products Price: The monetary medium of exchange. ...
... Value: The worth in terms of other products Price: The monetary medium of exchange. ...
Lecture_06.1b Monopoly
... lowering price below costs, a firm may convince its competitors that it has achieved a lower cost of production than them—the competitors will see the firm's high volume and low price and may believe that the firm's price is not below its costs but rather the firm's costs are low because of its high ...
... lowering price below costs, a firm may convince its competitors that it has achieved a lower cost of production than them—the competitors will see the firm's high volume and low price and may believe that the firm's price is not below its costs but rather the firm's costs are low because of its high ...
CBEB1107 MANAGERIAL ECONOMICS 1 TUTORIAL 7 i. Why do
... What distinguishes oligopoly from monopolistic competition? ...
... What distinguishes oligopoly from monopolistic competition? ...
La Madre
... Inelastic Price Structure – High value creates the ability to adjust price without affecting the sales. ...
... Inelastic Price Structure – High value creates the ability to adjust price without affecting the sales. ...
Pricing Strategy and Management
... Customer Considerations PRICE SENSITIVITY Product categories are not uniformly responsive to prices -- some are more sensitive to price levels than others Customers also may respond differently than one another to price levels ...
... Customer Considerations PRICE SENSITIVITY Product categories are not uniformly responsive to prices -- some are more sensitive to price levels than others Customers also may respond differently than one another to price levels ...
Chapter 5 Review Answer Key
... List the steps in the new development process & state the major objective of each stage. 1. SWOT Analysis: Involves analysis of the company’s strengths (S), weaknesses (W), opportunities (O), and threats (T) in the marketplace. Provides focus to do the remaining steps. 2. Idea Generation: Ideas can ...
... List the steps in the new development process & state the major objective of each stage. 1. SWOT Analysis: Involves analysis of the company’s strengths (S), weaknesses (W), opportunities (O), and threats (T) in the marketplace. Provides focus to do the remaining steps. 2. Idea Generation: Ideas can ...
Chapter 12
... Try to offer customers greater value Does not take into account what customers value most Value-based pricing Ideal if a match can be found Does not take both costs and competitors between what customers value most into account and it does well Offer customers greater value ...
... Try to offer customers greater value Does not take into account what customers value most Value-based pricing Ideal if a match can be found Does not take both costs and competitors between what customers value most into account and it does well Offer customers greater value ...
Price Setting and Ethical Marketing Learning Objectives Written
... same markups for all their items because it is simpler, but this is not usually the best approach. It is more effective to consider customer demand, competition, and how markups relate to turnover and profit. It is important for marketing managers to understand costs. If customers are not willing to ...
... same markups for all their items because it is simpler, but this is not usually the best approach. It is more effective to consider customer demand, competition, and how markups relate to turnover and profit. It is important for marketing managers to understand costs. If customers are not willing to ...
Customer Needs
... Price Flexibility Policies • One-price policy • The same price to all customers who purchase products ...
... Price Flexibility Policies • One-price policy • The same price to all customers who purchase products ...
Pricing
Pricing is the process whereby a business sets the price at which it will sell its products and services, and may be part of the business's marketing plan. In setting prices, the business will take into account the price at which it could acquire the goods, the manufacturing cost, the market place, competition, market condition, brand, and quality of product. Pricing is also a key variable in microeconomic price allocation theory. Pricing is a fundamental aspect of financial modeling and is one of the four Ps of the marketing mix. (The other three aspects are product, promotion, and place.) Price is the only revenue generating element amongst the four Ps, the rest being cost centers. However, the other Ps of marketing will contribute to decreasing price elasticity and so enable price increases to drive greater revenue and profits.Pricing can be a manual or automatic process of applying prices to purchase and sales orders, based on factors such as: a fixed amount, quantity break, promotion or sales campaign, specific vendor quote, price prevailing on entry, shipment or invoice date, combination of multiple orders or lines, and many others. Automated systems require more setup and maintenance but may prevent pricing errors. The needs of the consumer can be converted into demand only if the consumer has the willingness and capacity to buy the product. Thus, pricing is the most important concept in the field of marketing, it is used as a tactical decision in response to comparing market situation.