Making Marketing Decisions (Pricing

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1

Consumer Psychology and Pricing y Reference Prices (Last Price paid. Competitors Prices etc) y Price-Quality Inferences y Price Cues 2 .

Setting the Price y Selecting the Pricing Objective y Survival y Maximum Current profit y Maximum Market Share y Maximum Market Skimming y Product-Quality Leadership y Other Objectives 3 .

y Determining Demand y Price Sensitivity y Estimating Demand Curves y Price Elasticity Of Demand %q/%p 4 .

5 .

y Estimating Costs y Types of Costs and Levels Of Production y Accumulated Production y Activity-Based Cost Accounting y Target Costing y Analyzing Competitors· Costs. and Offers y Selecting a Pricing Method y Markup Pricing y Target-Return Pricing y Perceived-Value Pricing y Value Pricing y Going-Rate Pricing y Auction-Type Pricing y Group Pricing y Selecting the Final Price 6 . Prices.

Selecting the Final Price y Impact of other marketing activities y Company pricing policy y Impact of price on other parties 7 .

Adapting the Price y Geographical Pricing y Barter y Compensation deal y Buyback arrangement y Price Discounts and Allowances 8 .

y Promotional Pricing y Loss-Leader Pricing y Special-event Pricing y Cash rebates y Low-interest financing y Longer payment terms y Warranties and service contracts y Psychological discounting 9 .

y Differentiated Pricing y Customer-segment pricing:Museum. Telecom y Product form pricing: y Image pricing y Location Pricing y Time pricing y Channel Pricing 10 .

Product Mix pricing Strategies y Optional Product pricing y Captive product pricing y Product bundle pricing. 11 .

Initiating and Responding to Price Changes y Initiating Price Cuts y Initiating Price Increases y Reactions to Price Changes y Responding to Competitors· Price Changes 12 .

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