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PRICING
Understanding and Capturing
Customer Value
Price
Price
The amount of money charged for a product or
service. It is the sum of all the values that
consumers exchange for the benefits of having
or using the product or service.
Price and the Marketing Mix:
The only element to produce revenues; all other
elements represent costs
Most flexible element
Can be changed quickly
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Customer Value-Based
Pricing
Based on buyers perceptions of
value rather than on the sellers cost
Price is considered before the
marketing program is set.
Types of value-based pricing:
Good-value pricing
Value-added pricing
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Competition-Based Pricing
Based on
competitors
strategies,
prices, costs,
and market
offerings
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Considerations Affecting
Pricing Decisions
Internal factors
Overall marketing strategy, objectives,
and mix
Organizational considerations
External factors
Nature of the market and demand
Economy
Parties in the external environment
Resellers, government, and social concerns
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Ltd.
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Organizational
Considerations
Determine who should set the price
Varies depending on the size and
type of company
Small companies - Top management
Large companies - Divisional or product
managers
Industries with price as the key factor Pricing departments
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Pricing in Different
Types of Markets
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Economy
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Segmented Pricing
Selling a product or service at two or
more prices, where the difference in
prices is not based on differences in
costs
Forms of segmented pricing:
Customer-segment pricing
Product form pricing
Location-based pricing
Time-based pricing
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Ltd.
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Psychological Pricing
Considers the psychology of prices
and not simply the economics
Price says something about the
product.
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Promotional Pricing
Temporarily pricing products below
the list price to increase short-run
sales
Forms of promotional pricing:
Discounts and special-event pricing
Limited-time offers and cash rebates
Low-interest financing and longer
warranties
Free maintenance
Copyright 2015 Pearson Education
Ltd.
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Geographical Pricing
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International Pricing
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