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Pricing (5)Price Adjustments (Promotional Pricing, Psychological Pricing,…
Pricing
5)Price Adjustments
Promotional Pricing
Psychological Pricing
Geographical Pricing
Segmented/Discriminatory Pricing
Dynamic Pricing
International Pricing
Discount and Allowance Pricing
Hit and Run Pricing
1a)Pricing Objectives
Survivability
Maximize Market Share
Minimize Losses
Achieve Product Quality Leadership
Maximize Profits
4)Product Mix Strategies
Optional Product Pricing
Captive Product Pricing
Product Line Pricing
By Product Pricing
Product Bundle Pricing
2)Major Pricing Strategies
ii)Customer Value-Based Approach
Access Customers Needs and Value Perceptions
Set Target Price to match Customer Perceived value
Determine Costs that can be Incurred
Design Product to deliver Desired Value at Target Price
2 Types: Good Value and Value Added Pricing
iii)Competitor-Based Approach
i)Cost-Based Approach
Convince Buyers of Product's Value
Set price based on Cost
Determine Product Costs
Design a good Product
2 Types: Cost-Plus Pricing and Break-Even Analysis
3)New Product Pricing
Price Skimming
Penetration Pricing
b)Influences on Pricing Decision
External Factors
Time/Seasonal Factors
Competition Activities
Company Reputation
Legal Constraints(Subsidiaries)
Type of Market
The Economy
Price Elasticity of Demand
Level and Distribution of Income
Consumer perceptions and expectations
Internal Factors
Costs
Attitudes of Management
Marketing Mix
Resources
Marketing Objectives