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Strategic marketing, Cost Based Pricing
Product->Cost->Price->…
Strategic marketing
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1. Brand strategy
26/09
brand definition: unique, image.
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3.vision brand identity-->slogan,logo,colors.
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Target
Targeting strategy : The selection of potential customers to whom a busines whishes to sell a product or services
Basic criteria : Age, Genders, Level of income
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2.positioning map
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5- Create a map, 4 axes, 4 titles
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3. Targeting strategy
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Tag cloud
“A visual presentation of text data. Tags are single words, and the importance of each tag is shown with front size or color”
Moodboard
“A moodboard is a type of collage consisting of images, text and samples of objects in a composition”
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Micro marketing
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local marketing : cities, neighborhoods...
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Marketing Mix
A planned mix of the marketing's elements known as 4Ps : product, price, place and promotion to create the right combination to attract customers and generate optimum income
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Pricing strategy
Activities aimed at finding a product's optimum price, typically including overall marketing objectives, consumer demand, product attributes, competitor's pricing and market and economic trends
Mix Marketing
Pricing Strategy
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Bundle pricing
The act of placing several products or services together in a single package and selling for a lower price than would be charged if the items were sold separately.
Often used for a special occasions
Penetration pricing
->Cheapest (lowest on the market)
->Quickly achieve hight volume sales
"Stratégie de pénetration"
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PRICING STRATEGY
Psychological pricing: Setting prices according to the psychological of the aimed market segment (49,99€ => 50€).
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Low cost, luxury, sustainable sectors don't use this strategy
1. Market : Competitors, Demand, Price
2. Pricing Strategy : Skimming, Competition, Penetration
3. PVC (Prix de Vente Conseillé) : Optional, Premium, Bundled
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Product line pricing: The progress used by retailers of separating goods into cost categories, in order to create various quality levels in the minds of the consumers (Apple, cars…).
Yield management: Anticipating and influencing consumer behavior. The goal is to maximize revenue from a fixed, time-limited resource.
Heuristics: Quick and intuitive mental operations that conduct to decisions such as purchasing decisions (popcorn 3,50//6,50 => 7,00).
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Cost Based Pricing
Product->Cost->Price->Value->Customers
Value Based Pricing
Customers->Value->Price->Cost->Product
Cost-based pricing:
A pricing method in which a fixed sum or a percentage of the total cost is added (as income or profit) to the cost of the product to arrive at its selling price.
Value-based pricing:
A way of deciding the price of a product, based on what customers think it is worth and on what they are willing to pay, rather than on what it costs to produce.