TAILIEUCHUNG - Lecture fundamentals of marketing - Lecture 17: Pricing strategies

In this chapter, we examine some additional pricing considerations and approaches. Companies today face a fierce and fast-changing pricing environment. Value-seeking customers have put increased pricing pressure on many companies. Thanks to economic woes in recent years, the pricing power of the Internet, and value-driven retailers such as Walmart, today’s more frugal consumers are pursuing spend-less strategies. In response, it seems that almost every company has been looking for ways to cut prices. | Pricing Strategies LECTURE-17 1 New-Product Pricing Strategies Product Mix Pricing Strategies Price Adjustment Strategies Price Changes Public Policy and Marketing Topic Outline Price is an important marketing mix tool for both creating and capturing customer value. You explored the three main pricing strategies—customer value-based, cost-based, and competition-based pricing—and the many internal and external factors that affect a firm’s pricing decisions. In this chapter, we’ll look at some additional pricing considerations: new-product pricing, product mix pricing, price adjustments, and initiating and reacting to prices changes. We close the chapter with a discussion of public policy and pricing. 2 New-Product Pricing Strategies Market-skimming pricing is a strategy with high initial prices to “skim” revenue layers from the market Product quality and image must support the price Buyers must want the product at the price Costs of producing the product in small volume should not cancel the advantage of higher prices Competitors should not be able to enter the market easily Pricing strategies usually change as the product passes through its life cycle. The introductory stage is especially challenging. Companies bringing out a new product face the challenge of setting prices for the first time. They can choose between two broad strategies: market-skimming pricing and market-penetration pricing. Market-Skimming Pricing Many companies that invent new products set high initial prices to skim revenues layer by layer from the market. Apple frequently uses this strategy, called market-skimming pricing (or price skimming). When Apple first introduced the iPhone, its initial price was as much as $599 per phone. The phones were purchased only by customers who really wanted the sleek new gadget and could afford to pay a high price for it. Six months later, Apple dropped the price to $399 for an 8GB model and $499 for the 16GB model to attract new buyers. Within a .

• Marketing - Bán hàng
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• Lecture fundamentals of marketing
• Marketing mix
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• Product mix pricing strategies
• Marketing process
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• Capturing customer value
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