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image, MARKETING MIX - Coggle Diagram

- - - - jeopardise further sales
    - - Used in service offering where capacity would otherwise be unused
        
        Useful for limited times. Fixed costs need to be covered at other times.
        
        Sometimes referred to as second-market discounting- charging different prices to different markets
        
        Covers diff prices in international markets where local comp makes it necessary
    - - Adding % for profit to the cost of a product
      - Mark-up pricing used by retailers to set a price by adding a ‘mark-up’ to the price they paid for their stock to obtain a profit
  - - - Many companies prefer to differentiate themselves from competition and use customer-based pricing
    - - If lower, company may have to charge lower price unless it’s able to increase the offerings perceived value
    - - Profit has to be balanced against the chances of winning a bid
      - Get info about the price of previous successful bids and about competitors
  - - - Good-value pricing
        
        Setting a fair price based on balance of quality against price
      - Value-added pricing
        
        Adding features/services to increase the value of an offering
      - Demand pricing
        
        Customer’s willingness to buy an offering at various price options
      - Psychological-based pricing
        
        Using price to elicit an emotional response