TAILIEUCHUNG - Lecture Retailing management (6/e): Chapter 15 - Levy Weitz

Lecture Retailing management (6/e): Chapter 15 - Pricing. This chapter presents the following content: Why is pricing important? Considerations in setting retail prices, price setting approach used by retailers, types of price discrimination, how can retailers reduce price competition?. | Chapter 15 Pricing Merchandise Management Buying Systems Planning Merchandise Assortments Buying Merchandise Pricing Retail Communication Mix 15- Why is Pricing Important? Pricing decisions is important because customers have alternatives to choose from and are better informed Customers are in a position to seek good value Value = perceived benefits price So, retailers can increase value and stimulate sales by increasing benefits or reducing price. 15- Considerations in Setting Retail Prices The four factors retailers consider in setting retail prices: The price sensitivity of consumers The cost of the merchandise and services Competition Legal restrictions 15- Considerations in Setting Retail Prices 15- Price Setting Approach Used by Retailers Need to set price for 1000’s of products many times during year Set prices based on pre-determined markup and merchandise cost Make adjustments to markup price based on customer price sensitivity and competition 15- Price Sensitivity and Demand When increases can decrease as fewer customers feel the product is a good value price sales 15- Types of Price Discrimination First Degree – Set unique price for each customer equal to customer’s willingness to pay Auctions, Personalized Internet Prices Second Degree – Offer the same price schedule to all customers Quantity discounts Coupons Markdowns Late in Season Early Bird Special Over Weekend Travel Discount Third Degree – Charge different groups different prices Kids Menu Seniors Discounts 15- Results of Price Experiments 15- Quantity Sold at Different Prices 15- Profit at Different Prices 15- Price Elasticity Elasticity = percent change in quantity sold percent change in price 15- Price Elasticity Elasticity = percent change in quantity sold percent change in price = (new quantity sold – old quantity sold)/old quantity sold (new price – old price)/(old price) = (1100-1500)/1100 (10-9)/9 = .1111 = 15- Price .

• Quản trị kinh doanh
• Retailing management
• Lecture Retailing management
• Retailing strategy
• Merchandise management
• Store management
• Setting retail prices
• Human resource management
• Information systems
• Supply chain management
• Customer relationship management
• Retail mix
• Types of retailers
• Customer buying behavior
• Stimulating need recognition
• Retail marketing strategy
• Financial strategy
• Retail locations
• Retail site location
• Managing merchandise assortments
• Merchandise planning
• Buying merchandise
• Retail communication mix
• Managing the store
• Store layout
• Customer service
• Customer service strategies