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  • 4.5 - Mind Map

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    Pravar Trivedi
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    The document discusses various pricing methods including cost plus/mark up pricing, penetration pricing, price skimming, loss leader pricing, price discrimination, psychological pricing, and predatory pricing. It also covers branding concepts like brand awareness, brand development, brand loyalty, and brand value. Finally, it mentions the Boston Consulting Group Matrix and product life cycle, including the development, introduction, growth, maturity, and decline stages.

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    The document discusses various pricing methods including cost plus/mark up pricing, penetration pricing, price skimming, loss leader pricing, price discrimination, psychological pricing, and predatory pricing. It also covers branding concepts like brand awareness, brand development, brand loyalty, and brand value. Finally, it mentions the Boston Consulting Group Matrix and product life cycle, including the development, introduction, growth, maturity, and decline stages.

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    2 views1 page

    4.5 - Mind Map

    Uploaded by

    Pravar Trivedi
    The document discusses various pricing methods including cost plus/mark up pricing, penetration pricing, price skimming, loss leader pricing, price discrimination, psychological pricing, and predatory pricing. It also covers branding concepts like brand awareness, brand development, brand loyalty, and brand value. Finally, it mentions the Boston Consulting Group Matrix and product life cycle, including the development, introduction, growth, maturity, and decline stages.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    of 1

    Pricing methods:

    Brand awareness: how much people know and identify


    Cost Plus/Mark up Pricing the brand by its branding.
    Penetration Pricing Brand development: The result of the efforts that the
    company makes to improve the branding.
    Price Skimming

    Loss leader Brand loyalty: the extent to which participants are de-
    voted to the brand.
    Price Discrimination
    Brand value: the extent to which participants consider the
    Psychological Pricing brand name when buying a product based on its image.

    Predatory Pricing

    Boston Consulting
    Group Matrix (BCG Ma-

    The 4 P’s trix) is used in order for


    businesses to analyse
    their product portfolio
    better.

    The Product Life cycle shows different stages of a prod-


    ucts life.

    Extension Strategies to extend PLC. Development : The product is being researched and de-
    signed.
    Finding new markets
    Introduction: The product is launched.
    Develop a wider product range diversified portfolio
    Growth : Sales begin to rise. Product is established and
    Change the look of the product to attract con- costs decrease.
    sumers again.
    Maturity: Growth in sales levels off. Market becomes
    saturated because of more competitors.

    Decline : Sales eventually decline. Change in con-


    sumers taste.

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