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The Marketing Mix - Pricing - Coggle Diagram
The Marketing Mix - Pricing
3 Approaches
Cost Based Pricing
Mark Up Pricing
For Profit
Direct Cost Pricing
Services industry
Receive some revenue Vs. None
Second Market Discounting
Different Markets = Different Prices
Competitor based
"Going Rate"
Company price Vs. Competitors Price
Strength of Comeptitors
Competitors strategies
Pricing
Customer Based
"Exchange of Value"
Demand Pricing
Customers Willingness
Good Value Pricing
Quality Vs. Price balance
Value Added Pricing
Adding features/services
Allows a higher price
Psychological based Pricing
Emotional Response
i.e Prestige
odd-even pricing
£7.99 vs. £8
Factors
Cost
Competition
Value Perceptions
Objectives
Organisational
Marketing
Pricing Objectives
Product Mix- Pricing
Product Line Pricing
Optional Product Pricing
"Extras"
Captive Product Pricing
By-product pricing
Product Bundle
Pricing in Business Markets
Trade Discounts
Quantity Discounts
bulk orders
Cash Discounts
Seasonal Discounts
Allowances
Used Equipment
Approaches for Informing Pricing Decisions
General Survey
Price Sensitivity Analysis
Conjoint Analysis
Elasticity Modelling
Experimentation
Ethics
Dynamic Pricing
Means & Desires Assessment
Segmented Pricing
different customers = different price
OAP/Service Personnel/Students
Super Sized Pricing
