Welcome to Marketing Management

Slides:

Advertisements

Similar presentations

pricing concepts for establishing value

Advertisements

Learning Objectives After studying this chapter, you should be able to: Answer the question “What is price?” and discuss the importance of pricing in today’s.

MARKETING Pricing Strategies

The Marketing Mix Price Strategies.

Determining the correct price

Profit’s Sensitivity to Price

Market-Based Management, 4th edition

 Copyright 1999 Prentice Hall 10-1 Chapter 10 Pricing Products: Pricing Considerations and Approaches PRINCIPLES OF MARKETING Eighth Edition Philip Kotler.

Principles of Marketing

Principles of Marketing

Chapter 19 Pricing Concepts. IntroductionIntroduction Price: the exchange value of a good or service some unit of value given up for something of value.

PRICE. Yes, But What Does It Cost? Price is the value that customers give up or exchange to obtain a desired product Payment may be in the form of money,

Pricing and Sales Promotion A Wrap Up MAR 331. Pricing and Sales Promotion A Wrap Up Marketing and Pricing –Price/Value Relationships –Role of the Distribution.

pricing concepts for establishing value

Price = Sacrifice BenefitsSacrifice NBC_bottled_water_vs_tap384K_Stream.wmv.

Chapter Chapter 14: Pricing Strategies. Price  Price: The sum of all the value(s) the consumer gives up to obtain the product or service. –Money –Time.

Copyright © 2012 McGraw-Hill Ryerson Limited Ajax Persaud Shirley Lichti Dhruv Grewal Michael Levy Week Seven Pricing Concepts and Strategies for Establishing.

1 Copyright ©2009 by Cengage Learning Inc. All rights reserved Designed by Eric Brengle B-books, Ltd. CHAPTER 19 Pricing Concepts Prepared by Amit Shah.

Dhruv Grewal Michael Levy

McGraw-Hill/Irwin Copyright © 2010 by The McGraw-Hill Companies, Inc. All rights reserved.

Pricing Decisions Jeremy Kees, Ph.D..

© iStockphoto.com/ktsimage Lamb, Hair, McDaniel Chapter 19 Pricing Concepts © Cengage Learning All Rights Reserved.

© McGraw-Hill Companies, Inc., McGraw-Hill/Irwin.

Chapter 19 Copyright ©2012 by Cengage Learning Inc. All rights reserved 1 Lamb, Hair, McDaniel CHAPTER 19 Pricing Concepts © iStockphoto.com/ktsimage.

CHAPTER Day 19 BUS 222. Agenda Questions? Assignment 5 graded – 5 A’s, 6 B’s, 4 C’s and 2 F’s Assignment 6 Posted – Due April 9:30 AM Quiz 4 Corrected.

PRICING CONCEPTS FOR ESTABLISHING VALUE

CHAPTER PRICING CONCEPTS FOR ESTABLISHING VALUE 13 McGraw-Hill/Irwin Copyright © 2012 by The McGraw-Hill Companies, Inc. All rights reserved.

14-1 CHAPTER PRICING CONCEPTS FOR ESTABLISHING VALUE 14 Copyright © 2016 McGraw-Hill Education. All rights reserved. No reproduction or distribution without.

Pricing. iPad Mini $329+ Kindle Fire Nexus 7 Both $199.

1 1 Chapter 9 Pricing: Understanding and Capturing Customer Value.

Pricing Products: Understanding and Capturing Customer Value 10 Principles of Marketing.

CHAPTER Day 16 BUS 222. Agenda Questions? Quiz 4 Today (45 min.) – Chaps 10, 11 & 12 – 15 M/C and 1 extra credit – Open Book, Open Notes 45 mins Assignment.

Chapter 17 Price Setting in the Business World

10-1 Chapter 10 Pricing Considerations and Approaches.

Marketing Management Pricing in the Economic and Competitive Environment Paul Dishman, Ph.D. Department of Business Management Marriott School of Management.

1 Chapter 10 Pricing Products: Pricing Considerations and Approaches.

Pricing Strategy.  Focus on the value of your product / service delivers  Value = perceived benefits Price Know your competitor Reward staff for sales.

Price Planning Chapter 25. Sec – Factors Involved in Price Planning The four market factors that affect price planning What demand elasticity is.

Chapter 19 Pricing Concepts. What is Price? The value attached to the product or service Value: the “worth” based on perceived benefits What is given.

Pricing Strategy. Price strategy One of the four major elements of the marketing mix is price. Pricing is an important strategic issue because it is related.

11-1 Chapter 11 Pricing Concepts and Strategies: Establishing Value.

Idil Yaveroglu Lecture Notes

Chapter 25 price planning Section 25.1 Price Planning Issues

Pricing Decisions Jeremy Kees, Ph.D..

Idil Yaveroglu Lecture Notes

Welcome to Marketing Management

The Marketing Mix Pricing.

Welcome to Marketing Management

Intro to Pricing.

Pricing Considerations

BUILDING THE PRICE FOUNDATION

Marketing’s Role in the Global Economy

Principles of Marketing

Pricing Strategy.

What is Price? What is Unit Comparison? (Give an example)

Pricing in Sport Marketing

Pricing Products: Pricing Considerations and Approaches

Pricing Concepts.

Section Objectives Identify factors that affect price strategy.

Chapter 7: Pricing objectives

Introduction to Pricing Concepts

Pricing Concepts Chapter 19 Lamb, Hair, McDaniel

Price Elasticity Using Coffee Example

How much will I charge for MILK?

How much will I charge for MILK?

Pricing: Understanding and Capturing Customer Value

Pricing: Understanding and Capturing Customer Value

Price Strategy Considerations

Marketing Channel Concepts

Target Costing and Cost Analysis for Pricing Decisions

Presentation transcript:

Welcome to Marketing Management Dr. Cecilia Ruvalcaba BUSI 107 Week 9, Day 1

Exam 2 Ethics Service Characteristics Ethical Decision Making Service Gaps Social Responsibility Service Recovery Products & Brands Price What & Why What & How Types Price Elasticity & Demand Extensions Break-Even New Products Price Setting Price Strategies New Product Pricing Diffusion & PLC Pricing Tactics Services Why Service Variability

The Price is Right… or is it?

Before setting a price…

Company Objectives & Pricing Profit-oriented Sales-oriented Profit Orientation Target profit pricing Maximizing Profits return Focus on increasing sales More concerned with overall market share Does not always imply setting low prices Competitor- oriented Competitive parity Status quo pricing Customer-oriented Focus on customer expectations by matching prices to customer expectations

Customers: The Relationship Between Price and Demand Elastic (price sensitive) Inelastic (price insensitive)

Factors Influencing Price Elasticity of Demand Income effect Substitution Cross- price elasticity

Costs: Breaking Even Analysis Variable Costs Fixed Costs Total Cost Vary with production volume Unaffected by production volume Sum of variable and fixed costs

Break-Even Analysis Fixed Costs: 1000 Contribution per Unit: $15 - $2 (variable cost) = $13 Break-Even Point = $1000/$13 = 76.9

Competition

Channel Members Manufacturers, wholesalers and retailers can have different perspectives on pricing strategies

Take Away for Today Price beyond numbers What is the value? Branding for loyalty Decreases price elasticity Know your 5 C’s before setting a price!

Next Class Chapter 14 & 15: Price cont… Exam 2 (Chapters 4, 11-15) Friday 3/25