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pricing strategy

pricing strategy

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Published by api-19759801

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Published by: api-19759801 on Nov 28, 2009
Copyright:Attribution Non-commercial


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INTRODUCTION\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026..3 PRICING INTRODUCTION\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u20263 IMPORTANCE OF PRICING\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026.4 SOME OF THE MORE COMMON OBJECTIVES OF PRICING\u2026\u2026\u2026\u2026\u2026\u2026..5 FACTORES EFFECTING DEMAND\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026. 6 SETTING PRICING POLICY\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026 6 PRICING INFLUENCES ON PRICING POLICY\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026.. 10 PRODUCT PRICING STRATEGY\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026 11 NEW PRODUCT PRICING STRATEGIES\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026.. 12 PRODUCT MIX PRICING STRATEGIES\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026 14 PRICE ADJUSTMENT STRATEGIES\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026. 14 SETTING THE PRICE\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026. 16 FACTORES EFFECTING PRICING DECISION\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026..17 INITIATING AND RESPONDING TO PRICE CHANGES\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026.19 PRICING STRATEGY OF SURF EXCEL\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026..20 PRICING STRATEGY OF JAZZ\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026.21 PRICING STRATEGY OF PEPSI\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u202622 REFRENCES\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u2026\u202623

Narrowly, price is the amount of money charged for a product or service.
Broadly, price is the sum of all the values that consumers exchange for the benefits of having or using the
product or service.
Dynamic Pricing: charging different prices depending on individual customers and situations.

Price is the one element of the marketing mix that produce revenue ; the other element produce cost, prices are the easiest marketing mix element to adjust ; product features, channels and even promotion take more time .price also communicating to the market the company\u2019s intended value positioning of its product or brand.

Today companies are wrestling with a number of difficult pricing tasks
How to respect to aggressive price cutters
How to price the same product when it goes through different channels
How to price the same product in different countries
How to price on improved product while still selling the previous version

Many companies do not handle pricing well. They make these common mistakes; price is to cost-
oriented ; price is not revised often enough to capitalize on market changes; price is set independent of
the rest of the marketing mix rather than as an intrinsic element of marketing positioning strategy; and
price is not varied enough for different product item ,market segmentation , distribution channels, and
purchase occasions.

Companies do their pricing in a variety of ways. In small companies, price is often set by the boss. In
larger companies, pricing is handling by division and product line managers. Even here, top
management sets general objectives and policies and often approve the prices proposed by lower level
of management.

Setting the right price is an important part of effective marketing. It is the only part of the marketing mix
that generates revenue (product, promotion and place are all about marketing costs).
Price is also the marketing variable that can be changed most quickly, perhaps in response to a competitor
price change.
Put simply, price is the amount of money or goods for which a thing is bought or sold.
The price of a product may be seen as a financial expression of the value of that product.
For a consumer, price is the monetary expression of the value to be enjoyed/benefits of purchasing a
product, as compared with other available items.
The concept of value can therefore be expressed as:
(Perceived) VALUE = (perceived) BENEFITS \u2013 (perceived) COSTS
A customer\u2019s motivation to purchase a product comes firstly from a need and a want: e.g.

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