Lecture8 Part2 - Setting Prices and Pricing Strategies
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HungaryBudapesti Corvinus EgyetemGazdálkodástudományi KarNemzetközi gazdálkodás (angol nyelven)MarketingLecture8 Part2 - Setting Prices and Pricing Strategies
2008.04.12 23:04:34
Az alábbi szöveg egy formázás és képek nélküli előnézete a dokumentumnak. A tökéletes megjelenítéshez jelentkezz be, majd töltsd le a dokumentumot.
Objectives
· Market-Skimming Pricing
· Setting a high price for a new product to skim maximum revenues layer by layer from segments willing to pay the high price.
Definitions
· Learn how companies adjust their prices to take into account different types of customers and situations. · Know the key issues related to initiating and responding to price changes.
Marketing Principles
Marketing Principles
Spring Term 2007/2008
Spring Term 2007/2008
Definitions
Product Mix Pricing Strategies
· Product Line Pricing
· Setting price steps between product line items.
· Price points
· Market-Penetration Pricing
Setting a low price for a new product in order to attract a large number of buyers and a large market share.
Marketing Principles
Marketing Principles
Spring Term 2007/2008
Spring Term 2007/2008
1
Product Mix Pricing Strategies
· Captive-Product Pricing
· Pricing products that must be used with the main product
· High margins are often set for supplies
Product Mix Pricing Strategies
· Optional-Product Pricing
· Services: two-part pricing strategy
· Fixed fee plus a variable usage rate
· Pricing optional or accessory products sold with the main product · Supplemental software, digital cameras, and printers sold with a new PC are examples
Marketing Principles
Marketing Principles
Spring Term 2007/2008
Spring Term 2007/2008
Product Mix Pricing Strategies
· By-Product Pricing
· Pricing of low-value by-products to get rid of them
Product Mix Pricing Strategies
· Product Bundle Pricing
· Pricing bundles of products sold together · Common in fast food industry
Marketing Principles
Marketing Principles
Spring Term 2007/2008
Spring Term 2007/2008
2
Price Adjustment Strategies
Discussion Question
· · · · · Trade-in allowances · Promotional allowances Cash discount Quantity discount Functional (trade) discount Seasonal discount
Strategies
· Types of discounts
Hotels offer seasonal discounts during slow sales periods. What are some other examples of products or services that could benefit from a seasonal pricing strategy?
Marketing Principles
Spring Term 2007/2008
· · · · · ·
Discount / allowance Segmented Psychological Promotional Geographical International
· Allowances
Marketing Principles
Spring Term 2007/2008
Price Adjustment Strategies
Price Adjustment Strategies Conditions Necessary for Segmented Pricing Effectiveness
· Market can be segmented · Lower priced segments are not able to resell to higher priced segments · Competitors can not undersell segments charging higher prices · Pricing must be legal · Costs of segmentation can not exceed revenues earned · Segmented pricing must reflect real differences in buyers' perceived value
Strategies
· · · · Customer-segment Product-form pricing Location pricing Time pricing
· Types of segmented pricing strategies:
· · · · · ·
Discount / allowance Segmented Psychological Promotional Geographical International
· Also called revenue or yield management · Certain conditions must exist for segmented pricing to be effective
Marketing Principles
Marketing Principles
Spring Term 2007/2008
Spring Term 2007/2008
3
Price Adjustment Strategies Strategies
· Temporarily pricing products below the list price or even below cost · Loss leaders
· Special-event pricing · Cash rebates · Low-interest financing, longer warranties, free maintenance
Price Adjustment Strategies
Strategies
· The price is used to say something about the product.
· · · · · ·
Discount / allowance Segmented Psychological Promotional Geographical International
· Price-quality relationship · Reference prices · Differences as small as five cents can be important · Numeric digits may have symbolic and visual qualities that psychologically influence the buyer
· · · · · ·
Discount / allowance Segmented Psychological Promotional Geographical International
· Promotional pricing can have adverse effects
Marketing Principles
Marketing Principles
Spring Term 2007/2008
Spring Term 2007/2008
Price Adjustment Strategies
Price Adjustment Strategies Strategies
· · · · · · Discount / allowance Segmented Psychological Promotional Geographical International · Types of geographic pricing strategies:
· · · · · FOB-origin pricing Uniform-delivered pricing Zone pricing Basing-point pricing Freight-absorption pricing
Promotional Pricing Strategies
· Easily copied by competitors · Creates deal-prone consumers · May erode the brand's value
· Not a substitute for effective strategic planning · Frequent use leads to industry price wars which benefit only a few firms
Marketing Principles
Marketing Principles
Spring Term 2007/2008
Spring Term 2007/2008
4
Price Adjustment Strategies
Assessing & Responding to Competitor's Price Changes
Strategies
· · · · · · Economic conditions Competitive situation Laws / regulations Distribution system Consumer perceptions Cost considerations
· Prices charged in a specific country depend on many factors
· · · · · ·
Discount / allowance Segmented Psychological Promotional Geographical International
Marketing Principles
Marketing Principles
Spring Term 2007/2008
Spring Term 2007/2008
Price Changes
Price Changes
· Price Increases are Desirable:
· If a firm can increase profit, faces cost inflation, or faces greater demand than can be supplied.
· Initiating Price Cuts is Desirable When a Firm:
· Has excess capacity · Faces falling market share due to price competition · Desires to be a market share leader
Marketing Principles
Marketing Principles
Spring Term 2007/2008
Spring Term 2007/2008
5
Price Changes
Price Changes
· Methods of Increasing Price
· Eliminating discounts · Adding higher-priced units to the product line
· Alternatives to Increasing Price
· Reducing product size · Using less expensive materials · Unbundling the product
· Buyer reactions to price changes must be considered.
Marketing Principles
Marketing Principles
Spring Term 2007/2008
Spring Term 2007/2008
Price Changes
Price Changes
· Respond To Price Changes Only If:
· Market share / profits will be negatively affected if nothing is changed. · Effective action can be taken:
· · · · Reducing price Raising perceived quality Improving quality and increasing price Launching low-price "fighting brand"
· Competitors are more likely to react to price changes under certain conditions.
· Number of firms is small · Product is uniform · Buyers are well informed
Marketing Principles
Marketing Principles
Spring Term 2007/2008
Spring Term 2007/2008
6
Public Policy Issues in Pricing Public Policy and Pricing
· Pricing within Channel Levels
· Price-fixing
· Competitors can not work with each other to set prices
· Predatory pricing
· Firms may not sell below cost with the intention of punishing a competitor or gaining higher long-run profits or running a competitor out of business.
Marketing Principles
Marketing Principles
Spring Term 2007/2008
Spring Term 2007/2008
Public Policy and Pricing
· Pricing across Channel Levels
· Price discrimination · Retail price maintenance · Deceptive pricing
· Bogus reference / comparison pricing · Scanner fraud · Price confusion
Marketing Principles
Spring Term 2007/2008
7
Hasonló témájú dokumentumok
- 2008-04-12 23:00:37
- 2008-04-12 23:00:37
A mások által feltöltött dokumentumokat értékelheted. Ha úgy ítéled meg, hogy a vizsgára való felkészülés szempontjából hasznos volt egy dokumentum, akkor adj rá sokcsillagos értékelést.
Ha hibákat tartalmaz, vagy egyéb probléma van vele, akkor keveset.
A dokumentumok sorrendje az értékelések alapján adódik. Ami fentebb van a listában, azt hasznosabbnak ítélték társaid. Az új dokumentumok pedig (értékelések hiányában) szintén a lista tetején kezdenek.
Hozzászólások
Ha észrevételed van egy dokumentummal kapcsolatban (például hibát találtál benne), akkor a Hozzászólások részben jelezheted. Az olyan jellegű kérdéseket mint pl.: A 2. feladat 4. sorából milyen átalakítással jutottunk az 5. sorban szereplő képlethez? - szintén ide érdemes írni
Egy tipp az oldalhoz! - Sikeres vizsga után írd meg tapasztalataid a tantárggyal, vizsgával kapcsolatban. Miből érdemes tanulni, mennyi készülés kell, milyen volt a vizsga... Ha mindenki így tesz, sokkal egyszerűbb lesz elkezdeni a tanulást egy olyan ember tapasztalatainak a birtokában, aki már elvégezte a tantárgyat. Ehhez kattints a tantárgyra a Tanulmányaimban, majd a Véleményem a tárgyról linkre a jobb felső részen.
Egy felsőoktatási közösségi oldal amely segít kapcsolatot tartani a hallgatók között, így segítséget nyújt a sikeres tanulmányokhoz...
