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Marketing mix PRICING - B207, block 1, reading 9 (Cost-based pricing…

- - - - Direct (Variable)
        
        Consumables
        
        Distribution
        
        Production
      - Fixed (Overheads)
        
        Rent
        
        Equipment
        
        Marketing
  - - - Off peak
    - - Competition
  - - - X competitor prices
      - X demand
- - - - Strength of competitors?
      - Competitor pricing strategies?
      - Offerings value 'v' competitors?
  - - - Competitors
      - Successful bids
- - - - Fair price
        
        Value 'v' price
        
        'same quality for less'
        
        High quality
        
        Reasonable price
        
        Budget
        
        lower price
  - - - Willingness to buy
      - Various price options
  - - - Prestige price
        
        Signal quality
      - odd - even pricing
        
        Lower price perceptions
        
        £7.99 v £8.00
- - - - Marketing
      - Pricing
      - Organisational
    - - Other products
      - Price (Value offered)
      - Customer perceptions
      - Justification
    - - STEEPLE
    - - STEEPLE #
    - - Top management
      - Divisional
      - Product manager
      - Sales manager
      - Productions manager
      - Finance manager
      - Accountant
- - - - e.g. Coffee machine
        
        Pods
  - - - Marmite
      - Cereal bars
      - Animal feed
  - - - e.g. Mobile phone
        
        Screen protector
        
        Cases
  - - - Less than individual items
    - - Console, game, headset
        
        Less than spate purchases
    - - Page 79
  - - - 12 variants
        
        12 prices
- - - - Quantity
        
        One-off
        
        Cumulative
      - Cash
        
        Cash payment
        
        Short settlement terms
      - Trade/functional
        
        Provision of...
        
        Transportation
        
        Processing
        
        Storage
        
        Credit
        
        Selling
      - Seasonal
        
        Out of season
        
        Second market
      - Allowances
        
        Buyer advertising
        
        Trading-in
        
        Buyer sales support
- - - - Test perceptions
        
        Product value
  - - - aka. Price sensitivity analysis
        
        Questions
        
        Plot price map
        
        Identify price
        
        Too low
        
        Too high
        
        Price over time
    - - Rarely used
        
        Sensitivity to price changes
    - - 'Nice to know'
      - Limited insights
      - Feedback
        
        Price
        
        Likelihood to buy
    - - Senario
        
        Series of choice
- - - - Different prices dependant on...
        
        Location
        
        Differences - Products
        
        Differences - customers
        
        Students/OAPs
        
        e.g. Cottonbuds
        
        Cosmetic aisle
        
        Baby aisle
    - - Individual buyers
        
        Data mining
        
        Characteristics
        
        Needs
        
        Kotler and Armstrong 2016
    - - Wastage
      - Over consumption
      - More than required
      - Low unit price
      - Negative health implications