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Pricing Strategy An Introduction
 
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An introduction to the subject of Pricing Strategy and an overview of some of the tools and theories available in connection with the determining of price of a product or a service. This video is aimed at marketing management students.
Views: 111185 Tine Wade
Marketing Mix: Pricing Strategies
 
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Review the basics of the price component of the marketing mix. This critical element of your marketing strategy can make or break your competitive position. Provided by Rasmussen College School of Business.Download the PowerPoint presentation at http://www.sophia.org/marketing-mix-pricing-basics-tutorial
Views: 227809 Soma Datta
Pricing Strategies - How to price a product
 
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http://www.evancarmichael.com/support/ - SUPPORT ME :) Like this video? Please give it a thumbs up below and/or leave a comment - Thank you!!! Help me caption & translate this video! http://www.amara.org/en/profiles/videos/Evan%20Carmichael/ Eduardo Orellana: "Hi +Evan Carmichael I have a question for you, what happens if you've found a product or service that people need and it is extremelly valuable but are having a hard time deciding how much to charge people for it? "
Views: 83867 Evan Carmichael
Pricing Strategies For Marketing Your Product Or Service
 
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FREE COURSE To Start Your Online Business: http://projectlifemastery.com/free-course In this video, Stefan shares with you some pricing strategies for marketing your product or service. People often ask Stefan how much they should charge for a service that they are offering. His answer to that question is always, “What are people willing to pay? What is the demand for your product or service”? The demand is based on a lot of different factors, but primarily it is determined by the perceived value of your product or service. Renowned business trainer, Kate Zabriskie once said, "Your customers' perceptions are your reality". No matter how amazing you think your product or service is, your success depends, in part, on how effectively you are able to respond to the ever-changing needs of your target market. ★☆★ VIEW THE BLOG POST: ★☆★ http://projectlifemastery.com/pricing-strategies-for-marketing-your-product-or-service/ ★☆★ SUBSCRIBE TO ME ON YOUTUBE: ★☆★ Subscribe ► http://projectlifemastery.com/youtube ★☆★ FOLLOW ME BELOW: ★☆★ Blog ► http://www.projectlifemastery.com Twitter ► http://www.projectlifemastery.com/twitter Twitter ► http://www.twitter.com/stefanjames23 Facebook ► http://www.projectlifemastery.com/facebook Facebook ► http://www.facebook.com/stefanjames23 Instagram ► http://projectlifemastery.com/instagram Instagram ► http://www.instagram.com/stefanjames23 Snapchat ► http://projectlifemastery.com/snapchat Periscope ► http://projectlifemastery.com/periscope iTunes Podcast ► http://www.projectlifemastery.com/itunes ★☆★ MY PRODUCTS & COURSES: ★☆★ Morning Ritual Mastery ► http://www.morningritualmastery.com Affiliate Marketing Mastery ► http://www.affiliatemarketingmastery.com Kindle Money Mastery ► http://www.kmoneymastery.com 24 Hour Book ► http://www.24hourbook.com Kindle Optimizer ► http://www.koptimizer.com ★☆★ WANT TO BE COACHED BY ME? ★☆★ You can apply for my 1-on-1 and group coaching programs here: http://projectlifemastery.com/coaching ★☆★ RECOMMENDED RESOURCES: ★☆★ http://www.projectlifemastery.com/resources If you found this video valuable, give it a like. If you know someone who needs to see it, share it. Leave a comment below with your thoughts. Add it to a playlist if you want to watch it later.
Views: 3395 Project Life Mastery
The Best Pricing Strategy - The Apple Way
 
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Please Subscribe here https://goo.gl/6mVLxs to have more videos on business, entrepreneurship, motivation, personal development and success strategy. Setting the right price for a product or a service can be very challenging especially for new entrepreneurs. This is because it can be quite confusing to understand how pricing really works in the market. For example, which of these two products would you buy, the first one is priced at $800 and the second product with the same functions and usage is priced only at $4? Obviously, most of us would choose the $4 product, right? Yes and no. It all depends on 2 important factors which I am going to explain more in this video. If you say yes then why is it that a 256GB iPhone 7 which is priced at $849 is more in demand than a Freedom 251 smartphone which is priced only at $4 a piece? If you say no then why is it that most of us would choose to get a $1 mineral water than the one that is priced at $200 a bottle? So how much should you price your product then? Well, there’s no one right answer to this question because there are so many things that you need to consider such as your overall business goals, how you plan to position your product in the market, your market niche, the costs to produce your products, your product category, and your overall operational costs, just to name a few. Is there a simpler way to do this? Of course, there is, just make sure you know your product category and your positioning strategy. Let me explain. Basically, your product will fall into either one of these two big categories. One is a generic product which can be divided into convenience and shopping products. Convenience products refer to our day to day products such as food, drinks, household products, and so forth whereas shopping products refer to products like clothing, shoes, furniture, and electrical appliances. The second product category is specialty products such as exclusive clothing lines, luxury cars, branded items such as branded bags, watches, shoes, and perfumes. If it is categorised as a generic product just use cost plus profit pricing strategy. Which means, you set your price by adding up the total costs to produce one unit plus the profit you want to make for every product sold. This usually works just fine because almost all generic products are priced this way. But if your product is a specialty product, you need to decide on how you want to position it in the market, more specifically how do you want to position it in the mind of your customers and you can set whatever price you want. The most important thing that you must remember here is this, the moment you enter the market with your product positioning and pricing strategy, it will stay in there forever and, to reposition it later on in the future is almost impossible. For example, Freedom 251 smartphone is positioned as the cheapest and most affordable smartphone in the world and to reposition it just like an iPhone is near to impossible task. Therefore, how should you price your products and services? Decide on your product category and on how do you want to position it in your market. pricing strategies | pricing strategies in marketing | competitive pricing strategy | marketing pricing strategies | pricing methods | business pricing strategies | pricing strategy examples | Follow me on twitter https://twitter.com/moslemanoar Connect with me on linkedin https://my.linkedin.com/in/moslem Follow me on my blog http://moslemanoar.com/ Connect with me on facebook https://www.facebook.com/moslemanoarpage Connect with me on skype moslemanoar
Views: 29099 Success Matters
Pricing Strategies in Marketing
 
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Explain in detail the following pricing strategies. - Cost Plus pricing - Penetration Pricing - Skimming or Creaming - Variable Price method - Cost Plus Pricing: Cost plus pricing is the most common and simple pricing strategy. As per this strategy the price is determined by calculating the sum of the cost of production and appropriate profit. However, this strategy does not stress on the optimum utilization of all available resources. This strategy completely depends on the manufacturing estimates. Costs associated with manufacturing are calculated to - Justify the planned capital expenditure - Calculate the cost of production for a new or re-designed product - Optimize the use of high cost areas. - The estimation is done by computing the factors like volume of resources, the cost associated with these resources and the duration for which these resources will be used. When it is required to justify the capital-expenditure, the depreciation and cash-flow analysis is done using accounting methods. Advantages: The information required to calculate the price i.e., amount of expenditure and the desired profit is readily available. It is simplest strategy as the price is computed just by adding all the cost incurred and the desired profit. As the information used is with the company itself, it can immediately take corrective measures by analysing the facts if it sees an increase in expenses. Disadvantages: The base for estimating the pricing is to consider the demand in the coming days. This method does not take this factor into account. This is a biggest drawback. As this method does not consider the competitors strategies to determine the pricing, companies depending completely on this method might fail. As this method considers the sunk cost and does not take opportunity cost into account there is a possibility of overestimating the price. In addition to this, the personal bias need to be added to the product. - Penetration Pricing: This strategy requires the price to be set to a value lower than the market price. This is usually done to acquire new customers. The whole idea is that the customers will switch to the new brand due to the lower prices. This is a short-term strategy and is usually used to increase the market share or sales volume rather than to incur huge profits. Once the required market share is achieved the prices are increased to regular values. Advantages: The market share and sales volumes are increased in a short term and before the competitors notice and react. Increases the goodwill among the customers who switch to this product. They intern refer the product to other customers and thereby contributing to the increased sales volumes. It increases the efficiency by introducing the cost control and cost reduction pressures right from start. Due to the lower price competitors hesitate entering into this area. Stock turnover is increased throughout the distribution channel. This method generates very critical and important enthusiasm and support in the channel. Disadvantages: The customers expect that the price will stay lower for the coming days and the company might be branded for its lower price. As a result, it becomes difficult to increase the prices in future. It is also possible that some of the customers will only stay with the product as long as the prices are low and they immediately switch to other brands as soon as the price is increased. It is not yet clearly determined whether it will be effective if the prices are increased suddenly or if they are increased over a period of time. Due to very small profit margin, the companies can not stick to this strategy for a longer term as it might result in losses for the company. Note: To overcome these disadvantages companies adopt a slightly modified version of this strategy where in they do not reduce the price initially. In this case they provide good discounts to the customers initially. This works as the customers do not have expectation that the price will be lower for a longer term. Additional content on this topic can be found at http://www.eduxir.com/curriculum/cbse/class-xii/entrepreneurship/enterprise-marketing/
Views: 2169 Eduxir
How To Price Your Product | Pricing Strategies For eCommerce and Retail Sales
 
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In this video we cover everything you need to know about pricing your product for sale. We dive into eCommerce pricing, what kind of margins you should aim to reach and what it takes to sale through retail stores. To take advantage of the free trial of Shopify and setup your online store: http://bit.ly/Get-Shopify Margin Calculator Mentioned in video: http://bit.ly/Margin-Calculator Printful Print To Order: http://bit.ly/Try-Printful Back The Cause: http://bit.ly/Support-The-Channel Have you ever wondered how some products sell for hundreds of dollars while others are more affordable? If you’ve had this in mind while pricing your products for sale, I go into detail with the different pricing models you can follow to help you make a decision. Ultimately it depends on what tier your brand sits in, but the terms and content in this video will help you figure all of that out in a strategic way. It’s important to price your product at a sweet spot, a price that your market is willing to pay and you are able to make margins on to keep the lights on. It can be tricky to figure out, but it’s important to know what to strive for early on and then make adjustments as needed. Start A Brand ASAP- Connecting entrepreneurs with the resources and content they need to start their business ASAP. Download the free manufacturer and supplier guide and also receive the E-Series straight to your inbox. http://bit.ly/Apparel-Download John Santos on Social: https://www.instagram.com/johnxsantos/ https://twitter.com/johnxsantos SC: @revivejohnny LINKS TO BUSINESS RESOURCES AND INFO. **** RESOURCE LINKS******** ***Shopify- Website Platform, 14 Day Risk Free Trial http://bit.ly/Get-Shopify ***Bluehost- Web hosting package, 30 Day Money Back Guarantee http://www.bluehost.com/track/bluejay90 *** Design Package- Photoshop, Illustrator & More http://bit.ly/Creative-Cloud1 ***Fiverr- Logo Design and Graphics http://tracking.fiverr.com/SH1rz *AFFILIATE DISCLAIMER: The description may contain affiliate links, which means that if you click on one of the links, I may receive a small commission (at no added cost to you). This helps me create new videos to support your journey. If you could reference back to this description when you are ready to use a service, I’d greatly appreciate it.
Views: 16782 John Santos
The Penetration Pricing Strategy
 
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Penetration pricing is a common pricing strategy used by businesses. To employ effective penetration pricing, businesses start by offering a product at a low price point. By doing so, the business is hoping to attract new customers and increase its share of the market. Once the business has increased its market share, it will slowly begin to increase prices to a point where they can offer the product in a profitable manner. To learn more about penetration pricing, as well as the conditions that need to exist for the strategy to be effective, watch the following video. Go Premium for only $9.99 a year and access exclusive ad-free videos from Alanis Business Academy: http://bit.ly/1Iervwb View additional videos from Alanis Business Academy and interact with us on our social media pages: YouTube Channel: http://bit.ly/1kkvZoO Website: http://bit.ly/1ccT2QA Facebook: http://on.fb.me/1cpuBhW Twitter: http://bit.ly/1bY2WFA Google+: http://bit.ly/1kX7s6P
Pricing Strategies
 
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Pricing Strategies
Views: 153127 Thompson VSE
Price Psychology and Online Marketing
 
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Research in psychology reveals many tiny things that make prices and discounts seem more appealing. This video shares five simple things that research has found to change price perception--a sure help to marketers! Full online course: http://tiny.cc/v86ezx (use that link for a special promotional price). Please subscribe to the channel and leave a comment below! Be a People Expert: http://BeAPeopleExpert.com Courses: http://socialpsychonline.com/online-courses/ Twitter: https://twitter.com/So_Psych Facebook: https://www.facebook.com/socialpsychonline
Views: 16413 Andy Luttrell
The Price Skimming Strategy
 
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Price Skimming is a common pricing strategy used for new products. Employing price skimming involves setting a high initial price, which helps a business recover the costs associated with developing and marketing the product. Although price skimming can be used in a variety of industries, it's commonly seen in consumer electronics, including: smartphones, video game consoles, and tablet computers. Learn more about price skimming, and the conditions that need to exist for this pricing strategy to be effective, in this video. Go Premium for only $9.99 a year and access exclusive ad-free videos from Alanis Business Academy: http://bit.ly/1Iervwb View additional videos from Alanis Business Academy and interact with us on our social media pages: YouTube Channel: http://bit.ly/1kkvZoO Website: http://bit.ly/1ccT2QA Facebook: http://on.fb.me/1cpuBhW Twitter: http://bit.ly/1bY2WFA Google+: http://bit.ly/1kX7s6P
Marketing: Pricing
 
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Marketing: Overview of price and pricing.
Views: 37999 Brian K. McCarthy
How to price a product | Pricing Strategy
 
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How to price a product for your online shop. Here are 9 tweaks you can make to nail those prices on your products. Get the list here: https://m.me/becauseicanclan?ref=Pricing Subscribe: https://alisonprince.com/tv Find out how my 10 and 13-year-old girls sold over 21,000 scarves in 9 months over on the https://0-100k.com/special-webinar-registration Learn how you can start your online store to sell products. Make sure to follow me so you can learn how to run an online store and make money online. Blog: https://www.alisonjprince.com/home Facebook: https://www.facebook.com/becauseicanclan Instagram: https://www.instagram.com/alisonjprince/ Join the Because I Can Clan FB page and find out how other 'clanners' are changing their lives!
Views: 832 Alison J Prince
The Marketing Mix - Pricing
 
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On Facebook: https://www.facebook.com/365careers/ On the web: http://www.365careers.com/ On Twitter: https://twitter.com/365careers Subscribe to our channel: https://www.youtube.com/365careers This lesson on Marketing strategy introduces the concept of Pricing. Watch more at https://www.udemy.com/mba-in-a-box-business-lessons-from-a-ceo . This video is part of a series of short lessons about Business Strategy. The complete module can be found on Udemy, as a core part of the MBA in a Box course by CEO Valentina Bogdanova and 365 Careers. The course provides a complete Business Education: Business Strategy, Management, Marketing, Accounting, Decision Making & Negotiation in just under 10 hours. -------------------------------------------------- Marketing module table of contents: Marketing: An Introduction Introduction to Marketing What is Marketing's role? Who works in Marketing? Marketing's key processes Marketing: Building a Marketing Strategy What is a marketing plan? The psychology of customers - needs, wants, and demands Conducting marketing research The different stages of marketing research Collecting Primary Data for Marketing Research Performing client segmentation Choosing a target customer group Marketing: How to set up an effective Marketing Mix The four Ps of Marketing and their importance Marketing: How to set up an effective Marketing Mix - Product decisions The product concept Classifying a firm's products The typical product lifecycle Product branding Product packaging Marketing: How to set up an effective Marketing Mix - Pricing decisions The variables influencing product pricing The demand curve Performing break-even calculations Marketing: How to set up an effective Marketing Mix - Place decisions Setting up product distribution Types of distribution channels The advent of e-commerce Marketing: How to set up an effective Marketing Mix - Promotion decisions The essence of marketing promotion Creating a marketing campaign The importance of social media Marketing: How to set up an effective Marketing Mix - A dynamic concept The four Ps of Marketing - A dynamic concept Marketing: Marketing strategy in the long run Allocating the funds available for Marketing - The budgeting exercise Using KPIs to improve decision-making Short-term vs. Long-term marketing goals Interpreting and calculating the Customer-Lifetime-Value formula -------------------------------- Pricing is the one variable a company can change overnight and see an immediate effect on revenues and profits. However, pricing decisions inconsistent with a firm’s competitive strategy can be dangerous, which is why companies should address the topic with much caution and attention. There are three important components we need to distinguish in this process. The amount a product costs to be produced, the price customers pay to buy the product, and the value they acquire from the product. If a company aims at cost leadership, then the focus will be costs (trying to keep them as low as possible). The company must offer a price slightly lower than the one offered by competitors. Conversely, if a firm’s strategy is differentiation, then the critical factor will be the value delivered to customers. Costs are not that important, as companies offering a differentiated product can charge more. So, pricing must be coherent with competitive strategy, although sometimes it is tempting to adjust prices to stimulate short-term gains of market share and increases of sales. Top-level managers have to stay focused on the big picture and make coherent decisions in line with the firm’s long-term strategy.
Views: 20538 365 Careers
Pricing Strategies - How should you price your product or service?
 
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http://www.evancarmichael.com/support/ - SUPPORT ME :) Like this video? Please give it a thumbs up below and/or leave a comment - Thank you!!! Have done a video, or could you recommend a place, about product pricing? I've read about a half dozen books, scores of blogs/internet articles searching for reasonable advice and have had some success. The real test is "does the item sell?" And that's the trickiness of my chosen business. I make homemade or home improved gift items for girls and ladies. Most of my customers buy only for themselves. Is pricing the issue or is it marketing? How would you suggest I determine which is the issue?
Views: 14836 Evan Carmichael
Pricing Strategies in Marketing | Urdu / Hindi | Marketing Strategies
 
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Being a marketers you must know different marketing strategies to capture attention of consumer. In this video i am going to teach you different pricing strategies. Kindly Subscribe my channel. Learn with sir kawish. Thank you. #pricingstrategies #marketing #lecture
Views: 12320 Learn with Sir kawish
Product Mix Pricing Strategy in URDU/HINDI
 
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Views: 820 Kokab Manzoor
Pricing Objectives & Strategy
 
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Unit 8 video on Pricing Objectives & Strategy-- Created using PowToon -- Free sign up at http://www.powtoon.com/ . Make your own animated videos and animated presentations for free. PowToon is a free tool that allows you to develop cool animated clips and animated presentations for your website, office meeting, sales pitch, nonprofit fundraiser, product launch, video resume, or anything else you could use an animated explainer video. PowToon's animation templates help you create animated presentations and animated explainer videos from scratch. Anyone can produce awesome animations quickly with PowToon, without the cost or hassle other professional animation services require.
Views: 21810 Jessica Blaisdell
Product Pricing Strategy
 
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Noah Redler explains the concept of pricing strategy. The price will depend on the type of consumer you are targeting as well as product brand and other factors.
Views: 10691 venturecaptv
Pricing Strategies (Principles of Marketing) | Lecture 9
 
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Pricing Strategies (Principles of Marketing) | Lecture 9. Subscribe this channel to get more knowledge,Lectures,Presentations etc. Youtube: http://www.youtube.com/c/GetKnowledge?sub_confirmation=1 Facebook: https://www.facebook.com/g8knowledge Twitter: https://www.twitter.com/g8knowledge Instragram: https://www.instagram.com/knowledgeget Course Description: This course focuses on the needs of those who are preparing themselves for an exciting, rewarding, and enriching career in the field of marketing. The main aim is to provide students with issues and situations they can identify with while preparing themselves in gaining knowledge and insights in marketing. Much of the course work will be devoted to discussing these concepts with reference to practical examples and cases. A good balance between theory and practice will be maintained in presenting various concepts. Learning Outcomes: After the completion of this course students will be able to: 1. Understand and discuss the fundamental concepts of Marketing 2. Have a sound idea of the factors involved in marketing planning 3. Identify the roles carried out be different market players 4. Posses a theoretical awareness of basic marketing theories and models for decision making. Pricing Strategies: Topic Outcome: New-Product Pricing Strategies Product Mix Pricing Strategies Price Adjustment Strategies Price Changes
Views: 3241 Get Knowledge
Pricing Strategies
 
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Economies of Scale: https://youtu.be/gckmLtA4kwc Different pricing strategies. Premium pricing. Price Skimming. Penetration pricing. Everyday low pricing(EDLP) High-Low Pricing Strategy.
Views: 2558 FST Study
Marketing Strategy | Pricing Strategies | External Pricing Factors | Chapter 10
 
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Marketing Strategy : Management Technology Based Marketing | Pricing Strategies | External Pricing Factors | Chapter 10; Introduction (00:00:19) Price (00:00:20 - 00:01:08) Price is set for two main reasons - : 1) Profit Oriented 2) Non - Profit Oriented Pricing Strategy and the Marketing Mix (00:01:09 - 00:02:27) *Promotion - How much money is set aside for promotion * Place - How is the product going to be distributed * Product - are production costs likely to increase External Pricing Factors and Internal Pricing Factors (00:02:28 - 00:04:09) External Pricing Factors * Supply * Market Demand * Competitors * Government - Internal Pricing Factors (It is based on Production Cost , Promotion , Distribution.) Pricing Strategies (00:04:10 - 00:09:30) - There are three main types of Pricing Strategies - : 1) Cost - Based Pricing - This Occurs when an Organization calculates the cost of a product, then adds a percentage mark up (profit)to it and sells at that price 2) Competition Based Pricing - This Occurs when a product's price is based on the competitor's prices not your own costs or consumer demand for the product 3) Value Based Pricing - This occurs when an organization sets its prices based on the consumer's perception of the value of the product. Pricing Strategies for New Products (00:09:31 - 00:12:05) These are o two types - : a) Market Skimming Pricing * Organisations aims for high price b) Market Penetration Pricing * Organisations aims for low price Strategies for Adjusting Pricing (00:12:06 - 00:18:20) * Discount Pricing (It can be classified into different categories for example Cash Discounts , Quantity Discounts , Trade Discounts etc.) * Psychological Pricing (Occcurs according to the Psychological Pricing) * Promotional Pricing (It can be small Packaged Products or product can be offered at a low price) * Segmented Pricing (It can be further categorised as - Location Pricing , Customer Segment Pricing , Time Pricing) * Geographical Pricing (It is because not all regions has the same social , economic Status) * International Pricing (Different Countries or Places will have different prices for the same product) Video by Edupedia World (www.edupediaworld.com) , free online education Download our App : https://goo.gl/1b6LBg Click here https://goo.gl/tPFKi6 to watch more videos on Data Marketing Strategy; All Rights Reserved
Views: 825 Edupedia World
Factors affecting pricing decision || Marketing management || BBA / Bcom (3rd) || ppt
 
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. You will get to know the factors that affect the pricing decision in a firm... on which bases the pricing is being done. * Internal Factors * External Factors Tages: pricing decisions pricing decisions pdf pricing decisions ppt pricing decision definition pricing decisions in marketing pricing decision analysis pricing decision process pricing decisions in marketing ppt pricing decisions policies and practices pricing decision making pricing decision ppt pricing decision policies and practices pricing decision in international marketing pricing decision under perfect competition pricing decision in retail pricing decision pdf pricing decision and cost management pricing decision adalah pricing decision and cost management ppt pricing decision article pricing decision and policy pricing decision and distribution decisions pricing decision and strategies ppt pricing decision and cost management pdf pricing decision and cost management chapter 12 cost-based pricing decision pricing and output decision of business pricing decision international business pricing decision case study pricing decision chapter 11 pricing decision cima pricing decision concept www.pricing decision.com corn silage pricing decision aid marginal costing pricing decision cost plus pricing decision pricing decision doc factors determining pricing decision determination of pricing decision pricing decision strategy definition market price pricing decision & price discrimination pricing decision example pricing decision essay explain pricing decision factors affecting pricing decision pricing decision in economics external factors pricing decision elements of pricing decision economist pricing decision export pricing decision pricing decision factors pricing decision framework pricing decision formula pricing decision for new product pricing decision for merchandise factors influencing pricing decision factor affecting pricing decision ppt factors affecting pricing decision pdf gas pricing decision pricing decision in global marketing decision on gas pricing next week factors governing pricing decision geographical pricing decision global pricing decision gm pricing decision pricing decision of hotel industry pricing decision in marketing pricing decision in management accounting pricing decision in marketing management pricing decision in perfect competition pricing decision in oligopoly market pricing decision importance pricing decision kotler kinds of pricing decision decision lens pricing decision logic pricing long term pricing decision long run pricing decision pricing decision meaning pricing decision model pricing decision marketing pricing decision making process pricing decision methods pricing decision management accounting pricing decision monopoly pricing decision mcq transfer pricing decision making pricing decision notes netflix pricing decision 2011 netflix pricing decision 2011 case pricing decision objectives pricing decision of monopoly pricing decision of product pricing decision of a firm pricing decision of new product importance of pricing decision significance of pricing decision factors of pricing decision meaning of pricing decision pricing decision policy pricing decision problems pricing decision policy in general significance of pricing decision ppt pricing decisions under different market structures pricing decision questions and answers qualitative factors pricing decision pricing decision rational retail pricing decision decision regarding pricing short run pricing decision relevant cost pricing decision retail pricing decision process pricing decisions definition pricing decisions notes pricing decisions for global marketing pricing decision theory pricing decision tree pricing decision types transfer pricing decision tree transfer pricing decision tactical pricing decision the pricing decision approaches to pricing decision mckesson transfer pricing decision pricing decision under monopolistic competition pricing decision under the condition of perfect competition pricing and output decision under oligopoly uba pricing decision pricing and output decision under monopoly pricing decision video pricing decision variables pricing decision wiki what is pricing decision what is pricing decision in marketing what is pricing decision in accounting what influence pricing decision why is pricing decision important write the pricing decision why are pricing decision so important 3 factors affecting pricing decision 5 product mix pricing decisions part 6 pricing decisions worksheet chapter 8 pricing decisions pricing decisions ca final, pricing decisions, pricing decisions marketing, pricing decisions and cost management, pricing decisions f5, pricing decisions product profitability decisions and cost management, acca f5 pricing decisions, pricing decision
Views: 11318 Sonu Singh - PPT wale
#29, Marketing mix, price mix and strategy( Class 12 Business)
 
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Views: 163648 Mind your own business
Pricing Strategy: Positioning and How to Price Your Product
 
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http://MarketingPathfinders.com Pricing Strategy: Positioning and How to Price Your Product - Learn the importance of positioning and how to price a product or service. Start your pricing strategies with positioning insights and not conversations about pricing models such as "cost plus" or "penetration pricing" and so forth.
Pricing Strategies: Price Skimming
 
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In this short revision video we explain the concept of price skimming. Price skimming is a pricing strategy that involves setting a high price before other competitors come into the market. This is often used for the launch of a new product which faces little or now competition – usually due to some technological features. Such products are often bought by “early adopters” who are prepared to pay a higher price to have the latest or best product in the market.
Views: 3815 tutor2u
PRICING STRATEGIES   MARKETING MGMT
 
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PRICING STRATEGIES MARKETING MGMT BRIEF OVER VIEW OF PRICING STRATEGIES FOR THE SUBJECT MARKETING. REVISINOARY LECTURE
Views: 2088 Shashi Aggarwal
Pricing Strategies: Penetration Pricing
 
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In this short revision video we explain the concept of penetration pricing. You often see the tagline "special introductory offer" – the classic sign of penetration pricing. The aim of penetration pricing is usually to increase market share of a product, providing the opportunity to increase price once this objective has been achieved. Penetration pricing is the pricing technique of setting a relatively low initial entry price, usually lower than the intended established price, to attract new customers. The strategy aims to encourage customers to switch to the new product because of the lower price. Penetration pricing is most commonly associated with a marketing objective of increasing market share or sales volume. In the short term, penetration pricing is likely to result in lower profits than would be the case if price were set higher. However, there are some significant benefits to long-term profitability of having a higher market share, so the pricing strategy can often be justified. Penetration pricing is often used to support the launch of a new product, and works best when a product enters a market with relatively little product differentiation and where demand is price elastic – so a lower price than rival products is a competitive weapon.
Views: 3491 tutor2u
3 Pricing Strategies Everyone Should Know
 
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Visit www.ground-glass.com for more information. Ground Glass is the wedding photography resource for breaking through barriers and finding real-world business information.
Views: 80773 Spencer Lum
Competitive pricing strategy & pricing strategy examples
 
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Click here to discover how to drive sales to your products or services online with one simple formula: http://www.deytips.com/theformula Learn more about the formula here: https://www.youtube.com/watch?v=fGnsAwEB7OM --~-- For more business tips visit: http://www.deytips.com In this video I am speaking about competitive pricing strategy techniques as well as a few pricing strategy examples. Pricing is one of the 4 P's in the marketing mix and I am covering it as the first part of a video series which will delve a lot deeper into the marketing mix as a whole and how you can use the concept to help you take your business to the next level. Subscribe: http://www.deytips.com/subscribe Facebook: http://www.deytips.com/facebookpage Twitter: https://twitter.com/Deytips Pinterest: https://uk.pinterest.com/deytips/ Google plus: http://www.deytips.com/googleplus Udemy: https://www.udemy.com/u/sarmaddey/ LinkedIn: http://www.deytips.com/linkedin Share this video: https://youtu.be/lLCee_VDGZ0 Business email: [email protected] Sam Dey
Views: 3369 Sam Dey
Pricing Strategy Part 1 || Marketing || Hindi || #4minutemarketing
 
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10 different types of pricing 1) Premium pricing It is a type of pricing which involves establishing a price higher than your competitors to achieve a premium positioning. You can use this kind of pricing when your product or service presents some unique features or core advantages, or when the company has a unique competitive advantage compared to its rivals. For example, Audi and Mercedes are premium brands of cars because they are far above the rest in their product design as well as in their marketing communications. 2) Penetration pricing It is a commonly used pricing method amongst the various types of pricing is designed to capture market share by entering the market with a low price as compared to the competition. The penetration pricing strategy is used in order to attract more customers and to make the customer switch from current brands existing in the market. The main target group is price sensitive customers. Once a market share is captured, the prices are increased by the company. 3) Economy pricing This type of pricing takes a very low cost approach. Just the bare minimum to keep prices low and attract a specific segment of the market that is highly price sensitive. Examples of companies focusing on this type of pricing include Walmart. 4) Skimming price Skimming is a type of pricing used by companies that have a significant competitive advantage and which can gain maximum revenue advantage before other competitors begin offering similar products or substitutes. It can be the case for innovative electronics entering the marketing before the products are copied by close competitors or Chinese manufacturers. 5) Psychological pricing It is a type of pricing which can be translated into a small incentive that can make a huge impact psychologically on customers. Customers are more willing to buy the necessary products at $4,99 than products costing $5. The difference in price is actually completely irrelevant. However, it makes a great difference in the mind of the customers. This strategy can frequently be seen in the supermarkets and small shops. 6) Neutral strategy This type of pricing focuses on keeping the price at the same level for all four periods of the product lifecycl. However, with this type of strategy, there is no opportunity to make higher profits and at the same time, it doesn’t allow for increasing the market share. Also, when the product declines in turnover, keeping the same price effects the margins thereby causing an early demise. This pricing is used very rarely. 7) Captive product pricing It is a type of pricing which focuses on captive products accompanying the core products. For example, the ink for a printer is a captive product where the core product is the printer. When employing this strategy companies usually put a higher price on the captive products resulting in increased revenue margins, than on the core product. 8) Optional product pricing It can be frequently observed in the case of airline companies. For example, the basic product of KLM Airlines is offering or providing seats in the airplane for different flights. However, once the customers start purchasing these seats, they are offered optional features along with the seats. Examples may be extra seat space, more drinks etc. Because of this optional product, there is more revenue generated from the main product. Customers are willing to spend for the optional product as well. 9) Bundling price Ever hear of the offer of 1 + 1 free? In the supermarket, when two different products are combined together such as a razor and the lotion for shaving, and they are offered as a deal, then we get to experience the bundling type of pricing first hand. This strategy is mainly used to get rid of excess stocks. 10) Promotional pricing strategy It is just like Bundling price. But here, the products are bundled so as to make the customer use the bundled product for the first time. This type of pricing focuses on buying one, and getting a new type of product for free. Promotional pricing can also serve as a way to move old stock as well as to increase brand awareness. 11) Geographical pricing It involves variations of prices depending on the location where the product and service is being sold and is mostly influenced by the changes in the currencies as well as inflation. An example of geographic pricing can also be the sales of heavy machinery, which are sold after considering the transportation cost of different locations. Click here to read more on geographical pricing strategy. Facebook Page : https://www.facebook.com/4MINUTEMARKETING/ Instagram Page : https://www.instagram.com/4minutemarketing/ If you find this content helpful, do SHARE it with others. This page is for educational purpose, where I share different contents of Marketing. My goal is to help and educate students with simplest way possible. #4minutemarketing
Views: 243 4 Minute Marketing
Pricing Strategies: Dynamic Pricing
 
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In this short revision video we explain the concept of dynamic pricing. Dynamic pricing is a pricing strategy in which businesses set flexible prices for products or services based on current market demands. The aim of dynamic pricing is to allow a business that sells goods or services online and/or via mobile apps to adjust selling prices on the fly in response to changing market demand.
Views: 4267 tutor2u
Marketing Mix - Prince/Pricing Strategy, Marketing Management Part - 6, Business Studies Class 12
 
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We will study Price Mix of Marketing Mix. Factors determining price:- Pricing Objective Product Cost Competition in the market Utility and Demand Government and legal regulations Marketing method used
Views: 14706 Prince Academy
The High-Low Pricing Strategy
 
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The high-low pricing strategy involves setting prices that are higher than everyday low pricing stores, but then offering numerous sales promotions reduce prices lower than competitors' prices. By utilizing this common pricing strategy, marketing personnel are hoping that products sold at deep discounts, often called loss leaders, will increase traffic in stores and increase the sales of other higher profit-margin items. In this video, you'll learn more about how marketers implement high-low pricing as well as some of the disadvantages associated with this pricing strategy. **Learn about price skimming: https://youtu.be/V8NjDBsVWUY **Learn about penetration pricing: https://youtu.be/Fjm6VVbe7bM **Learn about everday low pricing: https://youtu.be/TvqqgrjjDME Go Premium for only $9.99 a year and access exclusive ad-free videos from Alanis Business Academy: http://bit.ly/1Iervwb View additional videos from Alanis Business Academy and interact with us on our social media pages: YouTube Channel: http://bit.ly/1kkvZoO Website: http://bit.ly/1ccT2QA Facebook: http://on.fb.me/1cpuBhW Twitter: http://bit.ly/1bY2WFA Google+: http://bit.ly/1kX7s6P
Skimming Strategy
 
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Skimming Strategy with pricing examples
Business Training Video on Price and Product Strategy (Hindi) by DR. Vivek Bindra
 
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In this Video Dr. Vivek Bindra explains in very simple terms, the 4 quadrants of Business practice. This video beautifully explains the following quadrants for start ups, small entrepreneurs, small business etc as follows 1. Value for Money | 2. Opportunistic | 3. Premium | 4. Chinese Market. Through these quadrants Dr. Bindra asks young entrepreneurs to identify their business propositions and determining on which proposition would they like to position their business. This is a very enabling video that seeks to empower the business class society of India today and handhold them to success. If you want to avail the full benefits of this business concept, then do not forget to attend the 6 months long term Leadership Funnel Program To Attend a 4 hour Power Packed “Extreme Motivation & Peak Performance” Seminar of BOUNCE BACK SERIES, Call at +919310144443 or Visit https://bouncebackseries.com/ To attend upcoming LEADERSHIP FUNNEL PROGRAM, Call at +919810544443 or Visit https://vivekbindra.com/upcoming-programs/leadership-funnel-by-vivek-bindra.php Watch the Leadership funnel Program Testimonial Video, here at https://youtu.be/xNUysc5b0uI Follow our Official Facebook Page at https://facebook.com/DailyMotivationByVivekBindra/ and get updates of recent happenings, events, seminars, blog articles and daily motivation.
Marketing Management, Ch 14 Developing Pricing Strategies and Programs
 
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Marketing Management, Pricing Strategy 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 Management, Kotler Keller Chapter 14 Developing Pricing Strategies and Programs
Views: 1170 Dr. Sharaf Alkibsi
Marketing Minute 096: “What is Penetration Pricing or Low-Price Strategy?” (Marketing Strategy)
 
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Penetration pricing. It occurs when you offer your product or service at a price that is low compared to the competition, typically with the goal of gaining more sales volume, new customers, and larger market share. The resulting high sales volumes also may help you reach certain economies of scale that can reduce your per-unit manufacturing or production costs. This type of pricing can work well when products in the marketplace are seen as commodities by at least some target audiences who do not perceive quality differences between brands. It also works well when there is high price elasticity of demand, meaning that slightly lower prices tend to result in much higher sales volumes. The disadvantage, or course, is that low prices also mean low per-unit contribution margins, which means that you’ll need those high sales volumes to cover your costs. But there is an advantage to those low margins: they can serve as a barrier to entry to other companies because, well, who wants to compete in a space where margins are already quite low? But the biggest disadvantage of a penetration pricing strategy? Pricing your product too low may result in perceptions that your product is of lower quality due to people’s experiences with price-quality correlations. **Be sure to subscribe to my channel so you don't miss any future episodes of Monday's Marketing Minute, where you’ll learn about: - Marketing Strategy and Tactics - Brand Development - Personal Branding and Professional Branding - Marketing Yourself - Marketing Leadership - Self-Improvement - and whatever relevant and related topics come our way. **Also, connect with me on any of the following: LinkedIn: https://www.linkedin.com/in/anthonymiyazaki Twitter: https://twitter.com/sensiblefolk Instagram: https://www.instagram.com/sensiblefolk/ YouTube: https://www.youtube.com/AnthonyMiyazaki
Views: 14611 Anthony Miyazaki
Service pricing strategies
 
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Subject:Management Paper:Services Marketing
Views: 316 Vidya-mitra
Pricing - Stanford Strategic Marketing of High Tech and Clean Tech
 
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Stanford CSP BUS47 - "Strategic Marketing of High Tech and Clean Tech" Spring 2012 Instructor: Tony Seba Pricing Strategy Tony Seba, author of 'Winners Take All - 9 Fundamental Rules of High Tech Strategy" teaches pricing strategy. What is a product worth? What is value? What are the sources of value? What is Economic Value to the Customer (EVC)? How does pricing change throughout the technology adoption lifecycle? More information: http://www.tonyseba.com
Views: 12404 Tony Seba
Introduction to Marketing: The Importance of Product, Price, Place, & Promotion | Episode 118
 
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Go Premium for only $9.99 a year and access exclusive ad-free videos from Alanis Business Academy. Click here for a 14 day free trial: http://bit.ly/1Iervwb View additional videos from Alanis Business Academy and interact with us on our social media pages: YouTube Channel: http://bit.ly/1kkvZoO Website: http://bit.ly/1ccT2QA Facebook: http://on.fb.me/1cpuBhW Twitter: http://bit.ly/1bY2WFA Google+: http://bit.ly/1kX7s6P Marketing is everything involved in creating, communicating, and delivering value to customers, clients, and even society. Marketing is involved in everything from the market research that goes into determining what products consumers are looking for, to the message that is transmitted to consumers to inform them about a product and even persuade them to purchase it. In between those stages, marketing also plays a prominent role in determining how the product should look, designing the packaging that will enclose the product, deciding whether to sell the product through traditional retailers or entirely online, and establishing a price point that is not only attractive to consumers but allows gives the business the opportunity to be profitable. Now when most people think of marketing they often think of advertising, which is completely understandable given we are are constantly exposed to advertisements at home, at the office, and even during our commutes. Although advertising is a component of marketing it certainly does not explain the entire subject. In fact, advertising is simply one of the four different types of promotion, and promotion is one of the four main elements of marketing. So you can see that advertising, like the other marketing elements, merely plays a role in helping businesses create, communicate, and deliver a single unified message to potential customers. So how does a businesses create, communicate, and deliver value to its customers? Although there are many variables at work, a business can increase the probability of success by creating an effective and consistent marketing mix. Often referred to as the 4 P's, the market mix is a collection of four elements that outline the strategy for how a business intends to reach its customers. These four elements include product, place, promotion, and price. The product includes the tangible product or intangible service that will be used to fulfill a customer need or want. The features of a product, its physical form, packaging, warranties, and even after-sale service are all included under the product strategy. Place includes how a business intends to get products from the location they are produced to where they can ultimately be consumed by consumers. Place is often referred to as distribution since we are dealing with logistics. However, place not only includes the physical distribution of the product but also the channel through which it will be sold. Promotion involves establishing the most effective method for communicating with its customers about the various products that it sells. Promotion is primarily meant to communicate, inform, and persuade. An effective promotion strategy, like the other marketing mix elements, depends upon a businesses knowledge of its target customer. This knowledge allows a business to select the best way to communicate with its core audience and ultimately increase the success of its communications. The last element of the market mix is price. Price is the easiest marketing mix element to alter from a technical sense, however it is the most difficult thing to change. The reason is that altering the price of a product affects what consumers pay for that product, and a business can only charge as much as the market is willing to pay for a product. Technically a business can charge whatever price it wants, but that does not mean that consumers have to pay that price. Like the other marketing mix elements, price can send a message to consumers. For example, many believe that maintaining low prices is the best method to attract consumers. Although this can be an effective pricing strategy for certain items, it can also confuse consumers. For example, Tiffany & Co. sells expensive jewelry and is known for high quality and is one of the most recognizable brands. Because Tiffany & Co is known for quality and maybe even exclusivity, it wouldn't benefit from a low price point. Dealing with the psychological aspect of pricing, consumers tend to view less expensive items as cheap in quality compared to their more expensive counterparts. Although this doesn't always hold to be true, businesses are very aware of the impact that price can have on the perceptions of consumers.
Why Value Based Pricing Is The Best Pricing Strategy
 
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Click to learn more about Price Intelligently: http://bit.ly/2o4G3bT Subscribe for more SaaS: http://bit.ly/2ndnioY Patrick Campbell teaches you how to decide the price of your product. Socials Website: http://www.priceintelligently.com/ Facebook: https://www.facebook.com/PriceIntelligently/ Twitter: https://twitter.com/PriceIntel Instagram: https://www.instagram.com/priceintelligently/ Founded in 2012, Price Intelligently is revolutionizing how businesses price their products and services through technology that leverages existing and potential customers to determine true value. We built our technology because too many companies are relying on faulty data, competitive benchmarks, or "gut feelings"​ to set the most important lever in their business, and therefore are leaving an enormous amount of cash on the table. Essentially, we're nerds and we love it.
Views: 898 ProfitWell
The Marketing Mix - The product concept
 
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On Facebook: https://www.facebook.com/365careers/ On the web: http://www.365careers.com/ On Twitter: https://twitter.com/365careers Subscribe to our channel: https://www.youtube.com/365careers This lesson on Marketing strategy introduces the first P of the Marketing mix - the product. Watch more at https://www.udemy.com/mba-in-a-box-business-lessons-from-a-ceo . This video is part of a series of short lessons about Business Strategy. The complete module can be found on Udemy, as a core part of the MBA in a Box course by CEO Valentina Bogdanova and 365 Careers. The course provides a complete Business Education: Business Strategy, Management, Marketing, Accounting, Decision Making & Negotiation in just under 10 hours. -------------------------------------------------- Marketing module table of contents: Marketing: An Introduction Introduction to Marketing What is Marketing's role? Who works in Marketing? Marketing's key processes Marketing: Building a Marketing Strategy What is a marketing plan? The psychology of customers - needs, wants, and demands Conducting marketing research The different stages of marketing research Collecting Primary Data for Marketing Research Performing client segmentation Choosing a target customer group Marketing: How to set up an effective Marketing Mix The four Ps of Marketing and their importance Marketing: How to set up an effective Marketing Mix - Product decisions The product concept Classifying a firm's products The typical product lifecycle Product branding Product packaging Marketing: How to set up an effective Marketing Mix - Pricing decisions The variables influencing product pricing The demand curve Performing break-even calculations Marketing: How to set up an effective Marketing Mix - Place decisions Setting up product distribution Types of distribution channels The advent of e-commerce Marketing: How to set up an effective Marketing Mix - Promotion decisions The essence of marketing promotion Creating a marketing campaign The importance of social media Marketing: How to set up an effective Marketing Mix - A dynamic concept The four Ps of Marketing - A dynamic concept Marketing: Marketing strategy in the long run Allocating the funds available for Marketing - The budgeting exercise Using KPIs to improve decision-making Short-term vs. Long-term marketing goals Interpreting and calculating the Customer-Lifetime-Value formula -------------------------------- There are two main types of products that can be offered to clients – goods and services. Whether we talk about goods or services, we can say, usually, people are not just buying a product that solves one of their basic needs. They acquire the benefits and satisfaction they believe they’ll obtain from the product. They are interested in symbols and ideas that help them relate the product to a desired lifestyle and positive expectations about the future. Customers do not simply buy products because they satisfy their needs. Instead, they are interested in becoming clients of firms that offer them a complete product concept – an idea or a promise, if you will. The best products make people happier and create a positive expectation before being consumed.
Views: 18886 365 Careers
International Pricing Strategies: Introduction
 
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International Pricing Strategies: Introduction Kati Czerniawska, Mona Hollborn, Jutta Merz, Anna Tissen Labor Marketing und Multimedia (MuM) an der Hochschule Bremerhaven http://labormum.com Leitung: Prof. Dr. Heike Simmet http://heikesimmet.com
Views: 10674 labormum
Pricing Strategies Series - How to Price Your Product or Service - Sales Training Course (1/10)
 
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Pricing Strategies Series - Introduction on How Much to Charge for Your Product or Service by sales trainer and motivation speaker Victor Antonio. In this video, get an overview of the different types of pricing strategies to use and why pricing is important to your profitability. -- More information at: http://www.VictorAntonio.com or http://www.SellingerGroup.com -- About Victor Antonio Author,sales trainer and motivational speaker Victor Antonio is proof that the American dream of success is alive and well.  A poor upbringing from one of the roughest areas of Chicago didn't stop Victor from earning a B.S. Electrical Engineering, an MBA and building a 20 year career as a top sales executive and becoming CEO of a high-tech company.  Prior to being CEO he was President of Global Sales and Marketing for a $420M company and Vice President of International Sales in a Fortune 500 $3B corporation at the time. He has shared his story of success in Europe, Asia, Australia, Latin America, The Caribbean, Saudi Arabia, South Africa, United Emirates and The Middle East. Victor has shared the big stage with some of the top business speakers in the nation including: Rudy Giuliani, Zig Ziglar, Dr. Robert Schuller, Paul Otellini (CEO of Intel), John May (CEO of FedEx Kinkos) and many other top business speakers. Victor is a proven communicator and motivator! http://www.youtube.com/watch?v=5IVpbmorLfE He has shared the stage with: Business Leaders: Paul Otellini, CEO of Intel Rudi Giuliani, Mayor, NYC John May, CEO of FedEx-Kinkos Great Speakers: Dr. Robert Schuller Martin luther King Jr III Zig Ziglar, Sales Motivational Speaker Celebrities Hill Harper, Author and Actor Keegan Michael Key, Show "Key and Peele" Haaz Sleiman, Actor, Star of Show: The Victim Russell Simmons, Author, Entrepreneur
Views: 34783 Victor Antonio
Product Marketing Mix - The 4 P's of Marketing
 
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The video speaks about the 4 P's of marketing also known as Product, price, place and promotion or the product Marketing mix. Learn more at http://www.marketing91.com/marketing-mix-4-ps-marketing/
Views: 17086 Marketing 91
Penetration Pricing
 
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Define penetration pricing method. What are its merits and demerits? Penetration pricing refers to the pricing strategy where in a new product is initially offered at a lower price than the market price to attract new customers. The lower price attract the customers and persuade them to adopt the new product. Companies follow this strategy to increase their market share or increase their sales volume. Proft making is not the primary objective of this strategy. Once the market share reaches to the desired levels, the companies increase the price of the product. Merits of penetration pricing: - Faster reach to the customer base and helps in increasing the market share at a faster pace. The desired market rates can be achieved before the competitors notice and take appropriate measures. - It will lead to good will among the customers who adopt the product or service. This will lead to more referrals. - The organization is relieved from the cost control and cost reduction pressures right from the beginning. This intern lead to higher efficiency. - Due to lower cost, the competitors stay away from entering this segment. - Stock turnover is increased throughout the various distribution channels. - Generates significant enthusiasm and support in the channel. Demerits of penetration pricing: - Once the lower price of the product is determined, it becomes difficult to increase the price at a later point of time. Few of the consumers can switch away to a competitor products as soon as the price is increased. - It becomes complicated regarding deciding whether to increase the prices in steps over a number of years or to increase the price to a higher value instantaneously. However, to overcome this dilemma, organizations will release the product at a regular price but offer the product at a lower price through discount coupons. - This works only for short term. As the primary goal of the organization is to generate profits quickly, this penetration pricing will not be suitable for long term goals. Additional content on this topic can be found at http://www.eduxir.com/curriculum/cbse/class-xii/entrepreneurship/enterprise-marketing/
Views: 1214 Eduxir
Pricing Strategies Marketing  by Dr. Mohammad Obeidat
 
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This video explains pricing strategy. what method companies used to generate profit and to price their products effectively!
Views: 740 Mohammad Obeidat

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