1、Pricing StrategiesChapter 12ObjectivesLearn the major strategies for pricing imitative and new products.Understand how companies find a set of prices that maximizes the profits from the total product mix.1ObjectivesLearn how companies adjust their prices to take into account different types of custo
2、mers and situations.Know the key issues related to initiating and responding to price changes.2Price is#1 factor Price is#1 factor Price is#1 factor Price is#1 factor influencing choice of influencing choice of influencing choice of influencing choice of cellular companiescellular companiescellular
3、companiescellular companiesPrices in wireless Prices in wireless Prices in wireless Prices in wireless industry dropped industry dropped industry dropped industry dropped 25%in three years25%in three years25%in three years25%in three years Few companies were Few companies were Few companies were Few
4、 companies were profitableprofitableprofitableprofitablemLifemLifemLifemLife ad campaign ad campaign ad campaign ad campaign attempted to build the attempted to build the attempted to build the attempted to build the AT&T wireless brand AT&T wireless brand AT&T wireless brand AT&T wireless brand so
5、consumers would so consumers would so consumers would so consumers would consider value rather consider value rather consider value rather consider value rather than just pricethan just pricethan just pricethan just priceCampaign met with Campaign met with Campaign met with Campaign met with strong
6、initial success strong initial success strong initial success strong initial success mLife:AT&T WirelessCase Study3DefinitionsMarket-Skimming PricingSetting a high price for a new product to Setting a high price for a new product to skim maximum revenues layer by layer from skim maximum revenues lay
7、er by layer from segments willing to pay the high price.segments willing to pay the high price.Market-Penetration PricingSetting a low price for a new product in Setting a low price for a new product in order to attract a large number of buyers order to attract a large number of buyers and a large m
8、arket share.and a large market share.4Product Line PricingSetting price steps between product line Setting price steps between product line items.items.vv Price points Price pointsOptional-Product PricingPricing optional or accessory products sold Pricing optional or accessory products sold with the
9、 main productwith the main productProduct Mix Pricing Strategies5Captive-Product PricingPricing products that must be used with the main productvv High margins are often set for supplies High margins are often set for suppliesServices:two-part pricing strategyvv Fixed fee plus a variable usage rate
10、Fixed fee plus a variable usage rateProduct Mix Pricing Strategies6By-Product PricingPricing low-value by-products to get rid of themProduct Bundle PricingPricing bundles of products sold togetherProduct Mix Pricing Strategies7Price Adjustment StrategiesDiscount/allowance Discount/allowance Segmente
11、dSegmentedPsychologicalPsychologicalPromotionalPromotionalGeographicalGeographicalInternationalInternational Types of discountsTypes of discounts Cash discountCash discount Quantity discountQuantity discount Functional(trade)discountFunctional(trade)discount Seasonal discountSeasonal discount Allowa
12、ncesAllowances Trade-in allowancesTrade-in allowances Promotional allowancesPromotional allowancesStrategiesStrategies 8Price Adjustment StrategiesDiscount/allowanceDiscount/allowance SegmentedSegmentedPsychologicalPsychologicalPromotionalPromotionalGeographicalGeographicalInternationalInternational
13、 Types of segmented Types of segmented pricing strategies:pricing strategies:Customer-segmentCustomer-segment Product-form pricingProduct-form pricing Location pricingLocation pricing Time pricingTime pricing Also called revenue or Also called revenue or yield managementyield management Certain cond
14、itions must Certain conditions must exist for segmented exist for segmented pricing to be effectivepricing to be effectiveStrategiesStrategies 9Conditions Necessary for Segmented Pricing Effectiveness Price Adjustment Strategies Market is Market is segmentablesegmentable Lower priced segments Lower
15、priced segments are not able to resellare not able to resell Competitors can not Competitors can not undersell segments undersell segments charging higher pricescharging higher prices Pricing must be legalPricing must be legal Costs of segmentation can Costs of segmentation can not exceed revenues e
16、arnednot exceed revenues earned Segmented pricing must Segmented pricing must reflect real differences in reflect real differences in customers perceived valuecustomers perceived value10Price Adjustment StrategiesDiscount/allowanceDiscount/allowance SegmentedSegmentedPsychologicalPsychologicalPromotionalPromotionalGeographicalGeographicalInternationalInternational The price is used to say The price is used to say something about the something about the product.product.Price-quality relationshipP
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