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Marketing presentation

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This will help students i learning about how marketers make their pricing strategies ...

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Marketing presentation

  1. 1. “Pricing Products: Pricing Strategies”<br />Presented By : Maria Pirwani <br />Presented to: Ma’am Amber Raza<br />Dated: 4th . April.2011<br />
  2. 2. New Product Pricing Strategies:<br />What are the essential strategies to price their product?<br /><ul><li>Market Skimming Pricing
  3. 3. Market Penetration Pricing</li></li></ul><li>Market Skimming Pricing:<br />The word skimming means “ Being on the surface”.<br /><ul><li>Setting a high price for a new product to “skim” revenues layer-by-layer from those willing to pay the high price.
  4. 4. Company makes fewer, but more profitable sales.</li></li></ul><li>Market Skimming Pricing: Example:<br />
  5. 5. Market Penetration Pricing:<br />The word penetration means “Going within the Market”<br /><ul><li>Setting a low initial price in order to “penetrate” the market quickly and deeply.
  6. 6. Can attract a large number of buyers quickly and win a large market share.
  7. 7. It may be useful if the product will launch into a new market.</li></li></ul><li>Market Penetration Pricing:<br />To quickly penetrate the market, the company launches the product at relatively low price (P1), expecting to sell quantity Q1, and generate revenues equal to P1 times Q1 (the area of the shaded box).  The penetration strategy capitalizes on the downward sloping demand curve since the company can pick the price and, within some reasonable bounds, optimize the resulting short-run sales quantity<br />
  8. 8. Market Penetration Pricing: Example:<br />
  9. 9. Product Mix Pricing Strategies:<br /><ul><li>Product Line Pricing
  10. 10. Optional Product Pricing
  11. 11. Captive Product Pricing
  12. 12. By Product Pricing
  13. 13. Product Bundle Pricing</li></li></ul><li>Product Line Pricing:<br />Involves setting price steps between products in a product line based on cost differences between products and customer perceptions of value.<br />
  14. 14. Optional Product Pricing :<br />Pricing optional or accessory products sold with the main product (e.g., ice maker with the refrigerator).<br />
  15. 15. Captive Product Pricing:<br />Pricing products that must be used with the main product.<br />For E.g.:<br /><ul><li>Mobile Phone Battery
  16. 16. Memory Card Chip
  17. 17. Laptop Charger</li></li></ul><li>By Product Pricing :<br />Pricing low-value by-products to get rid of them.<br />For Example:<br />Coal tar is a by-Product of the process of obtaining gas from coal.<br />
  18. 18. Product Bundle Pricing:<br />Pricing bundles of products sold together (software, monitor, PC, and printer)<br />
  19. 19. Price Adjustment Strategies:<br />Discount and allowance pricing<br />Segmented pricing<br />Psychological pricing<br />Promotional pricing<br />Geographical pricing<br />Dynamic pricing<br />International pricing<br />
  20. 20. Price Adjustment Strategies:<br /><ul><li>Allowances
  21. 21. Trade-in
  22. 22. Promotional
  23. 23. Discounts
  24. 24. Cash
  25. 25. Quantity
  26. 26. Functional
  27. 27. Seasonal</li></li></ul><li>Price Adjustment Strategies:<br /><ul><li>Segmented pricing:
  28. 28. Selling a product or service at two or more prices, where the difference in prices is not based on differences in costs.
  29. 29. Types:
  30. 30. Customer-segment
  31. 31. Product-form
  32. 32. Location pricing (Different Location different Pricing)
  33. 33. Time pricing</li></li></ul><li>Price Adjustment Strategies:<br />Psychological pricing:<br />Considers the psychology of prices and not simply the economics.<br />Consumers usually perceive higher-priced products as having higher quality.<br />Consumers use price less when they can judge the quality of a product by examining it or recalling experiences.<br />
  34. 34. Psychological Pricing:<br />
  35. 35. Price Adjustment Strategies:<br /><ul><li>Geographical pricing:
  36. 36. FOB-origin pricing
  37. 37. Uniform-delivered pricing
  38. 38. Zone pricing
  39. 39. Basing-point pricing
  40. 40. Freight-absorption pricing
  41. 41. Promotional pricing:
  42. 42. Loss leaders
  43. 43. Special-event pricing
  44. 44. Low-interest financing
  45. 45. Longer warranties
  46. 46. Free maintenance
  47. 47. Discounts</li></li></ul><li>Price Adjustment Strategies:<br />Dynamic pricing:<br />Adjusting prices continually to meet the characteristics and needs of individual customers and situations.<br />International pricing:<br />Adjusting prices for international markets requires consideration of many factors.<br />(For e.g.: Food Industry )<br />
  48. 48. Enough for today. . .<br />