TAILIEUCHUNG - Ebook Principles of marketing (7/E): Part 2

(BQ) Part 2 book “Principles of marketing” has contents: Retailing and wholesaling, advertising and public relations, advertising and public relations, direct, online, social media and mobile marketing, the global marketplace, social responsibility and ethics, and other contents. | CHAPTER ELEVEN Pricing strategies: additional considerations Chapter preview In the previous chapter, you learned that 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 price changes. We close the chapter with a discussion of public policy and pricing. To start, let’s examine the importance of pricing strategy in sport. Our case looks at the pricing approach of Borussia Dortmund, a Bundesliga team with huge local support. But Dortmund’s pricing strategy isn’t just about local fans — their pricing strategy recognises that real fans will travel long distances for the elusive goal of high-quality football combined with a fanatic atmosphere! Objective outline ➤ Objective 1 Describe the major strategies for pricing new products. New product pricing strategies (pp. 314–315) ➤ Objective 2 Explain how companies find a set of prices that maximises the profits from the total product mix. Product mix pricing strategies (pp. 315–317) ➤ Objective 3 Discuss how companies adjust their prices to take into account different types of customers and situations. Price adjustment strategies (pp. 318–324) 312 ➤ Objective 4 Discuss the key issues related to initiating and responding to price changes. Price changes (pp. 325–328) ➤ Objective 5 Overview the social and legal issues that affect pricing decisions. Public policy and pricing (pp. 328–330) Borussia Dortmund: supporting a fair price by Leif Brandes, Warwick Business School F ootball made in Germany is becoming increasingly popular — and not only among German supporters who might .

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