TAILIEUCHUNG - Lecture Marketing management: Chapter 14 - Phillip Kotler, Kevin Lane Keller

Chapter 14 - Developing pricing strategies and programs. In this chapter, we will address the following questions: How do consumers process and evaluate prices? How should a company set prices initially for products or services? How should a company adapt prices to meet varying circumstances and opportunities? When should a company initiate a price change? How should a company respond to a competitor’s price change? | Kotler • Keller Phillip Kevin Lane Marketing Management • 14e Developing Pricing Strategies and Programs Chapter 14 Discussion Questions How do consumers process and evaluate prices? How should a company set prices initially for products or services? How should a company adapt prices to meet varying circumstances and opportunities? When should a company initiate a price change? How should a company respond to a competitor’s price change? Marketing Mix Promotion Place Revenue Producer Cost Cost Cost Price is the only one of the 4 P’s that produces revenue, all over elements produce costs. Price is also the easiest element of the marketing mix to adjust, and communicates the intended value of the offering. Pricing Bargaining $ $ Holistic marketers take into account the company, their customers, the competition, and the marketing environment in determine prices. Pricing decisions must be consistent with the firm’s marketing strategy and its target market and .

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