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Pricing Strategies

Pricing Strategies

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Published by Mark K. Eapen

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Published by: Mark K. Eapen on May 21, 2011
Copyright:Attribution Non-commercial

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01/03/2013

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1
Pricing Strategies
 
The price and quantity of goods available in a marketare determined by the demand
for 
the good and thesupply
of 
a good available at any given time.
 
The price and quantity of goods available in a marketare determined by the demand
for 
the good and thesupply
of 
a good available at any given time.
What is Price:
 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.
 
3
Introduction
We need to set price when we have:
a new product, or 
when we enter a new market with an existing product.
How?
 Need to decide what position you want your product to be in
 Static Analysis
-
assumes that competitors will not react to how a firm prices its products
 Dynamic Analysis
-
assumes that competitors will react to changes in prices of a firm’s products
Static is very unrealistic.
The Internet had influenced dynamic pricing in two ways:
Decreased menu costs - cost to change the price
Interactivity - ease of Internet interaction

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