The Price Is Right Nature of Pricing LAP
- Slides: 21
The Price Is Right Nature of Pricing LAP 2
The Price Is Right Nature of Pricing Describe the pricing function. Explain the role of pricing in marketing.
Describe the pricing function.
§ Jay and Paolo’s snowboards • • $400 vs. $80 Premium vs. off-brand Winter vs. off-season Local store vs. special order § Pricing: not always a straightforward task
$ What Is Pricing? § A marketing function that involves the determination of an exchange price at which the buyer and seller perceive optimum value for a good or service § Important for: • Customer satisfaction • Continued success of a business
Pricing § Like a tug-of-war between buyers and sellers • Buyers—want low prices • Sellers—want high prices § Must find balance
Characteristics of Effective Pricing § Realistic § Flexible § Competitive
Prices Have Many Names § Interest § Wages/ § Admission § Service § Fees § Dues § Fare § Tuition § Rent salary charge
Factors Affecting Price § § § § Costs Supply and demand Economic conditions Competition Government regulations Channel members Company objectives and strategies
Explain the role of pricing in marketing.
How Pricing Affects Product Decisions § Research § Materials used in production § Profit decisions § Customer decisions § Company image
How Pricing Affects Promotion Decisions § Choice of medium § Amount of money spent § Time allocated to promotion
How Pricing Affects Place Decisions § Choice of transportation channels § Where the product is offered
Pricing Objectives § Goals marketers have for their pricing strategies § May relate to: • Profitability • Sales • Competition • Image/Prestige
§ Your jeans • How much did you pay? • What factors contributed to the price?
§ § Amazon’s success Predatory pricing
§ “Publishers and Booksellers see a ‘Predatory’ Amazon: ” http: //www. npr. org/2012/01/23/145468105/publisher s-and-booksellers-see-a-predatory-amazon § What do you think?
Acknowledgments Original Developers: Kerry Winfrey and Lelia Ventling, MBA Research Version 2. 0 Copyright © 2015 MBA Research and Curriculum Center
Digital-based photography sources: Think. Stock Photography Various images used in this presentation are © 2015 Thinkstockphotos. All rights reserved www. thinkstockphotos. com
Copyright: All photographic digital images on this CD are owned by the aforementioned photographic resources or their licensors and are protected by the United States copyright laws, international treaty provisions, and applicable laws. No title to or intellectual property rights to the images on this CD are transferred to you. These sources retain all rights and are not to be used, digitally copied, transferred, or manipulated in any way. To do so is a violation of federal copyright laws.
- Right product right place right time right price
- Right time right place right quantity right quality
- Khi nào hổ mẹ dạy hổ con săn mồi
- Sự nuôi và dạy con của hổ
- Thế nào là mạng điện lắp đặt kiểu nổi
- Endlap and sidelap
- Ano ang ibig sabihin ng price stabilization
- The right man on the right place at the right time
- 2 nature of price
- What is the nature of price
- Marked price-selling price=
- Installment payment system
- 7 step sourcing methodology
- Price discovery and price determination
- Nature of price
- Segmented pricing
- Price tags template
- Nature and nature's law lay hid in night meaning
- Nature nature controversy
- Left left right right go turn around go go go
- Put your right foot in put your right foot out
- Left left right right go go go