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The marketing mix PRICING (Product mix pricing (product line pricing…
The marketing mix PRICING
Cost-based pricing
direct costs pricing
taking account of costs increase as sales go up
eg cheaper tickets at of peak times
second-market discounting
price depends on local competition
a total cost approach
anything above break-even is profit
cost-plus pricing
adding % to the cost of product
eg: law, construction, accountancy
Competitor-based pricing
how offering compares to competitors offering value?
how strong competitors
competitors pricing strategy?
Customer-based pricing
demand-pricing
good value pricing
value-added pricing
psychological-based pricing
prestige pricing to signal quality
odd-even pricing
to encourage lower price perception 9.99
Product mix pricing
product line pricing
pricing products based on value
optional product pricing
eg: screen protectors and cases when buying a phone
captive-product pricing
eg: cartridge, filter, etc...
by-product pricing
eg: grains used for dog food, bread and spreads
product-bundle pricing
eg: meal deals for a bundle of products
pricing in business markets
trade discount
quantity discount
cash discount
seasonal discounts
allowances
eg: advertising and sales support discount
Ethical pricing considerations
dynamic pricing
pricing on customer means and desires
segmented pricing
price based on product, location and customer
super sized pricing
encouraging customers to by more than they need