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Chapter 9: New-Product Development and Product Life-Cycle Strategies,…

- - - - Market must be segmentable
      - Segments must show different degrees of demand
      - Watching the market cannot exceed the extra revenue obtained from the price difference
      - Must be legal
- - - - Reduce price to match competition
      - – Maintain price but raise the perceived value
      - through communications
      - – Improve quality and increase price
      - – Launch a lower-price “fighting” brand
- - - - Scanner fraud failure of the seller to enter current or sale prices into the computer system
      - Price confusion results when firms employ pricing methods that make it difficult for consumers to understand what price they are really paying
- - - - value - based pricing is customer driven
      - cost - based pricing is product driven
      - Good-value
        
        pricing offers the right combination of quality and good service at a fair price
      - Everyday low pricing (EDLP) charging a constant everyday low price with few or no temporary price discounts