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Chapter 9:
Pricing Objectives
and Policies
Pricing
?
Chapter objective
?
What is price?
?
Strategic dimensions
?
Legal issues affecting
pricing policies
Chapter
objectives
?
Understand how
pricing objectives should guide strategic planning
?
Understand
choices the marketing manager must make about
price flexibility and
price levels over
the product life cycle
?
Understand the many
possible variations of a price structure
?
Understand some of the
legal issues affecting pricing
Price
?
Price : The amount of money
that is charged for something of value.
?
Prices are how much someone
is willing to pay.
?
Price is
called differently
?
university: tuition
?
landlord: rent
?
banks: interest
?
transportation: fares
?
highway: toll
?
doctor ,lawyer: fee
?
employee: wage
?
motels: room rate
Profit-oriented objectives
Profit
Oriented
Target
Return
Maximize
Profits
Dollar or Unit
Sales Growth
Growth in
Market
Share
Meeting
Competition
Nonprice
Competition
Pricing
Objectives
Sales
Oriented
Status Quo
Oriented
?
Target return sets a
specific level of profit as an objective.
?
Profit maximization: to get
as much profit as possible.
Sales-
oriented objectives
?
Sales-
oriented objective: to get some level of unit
sales, dollar sales, or share of market,
without referring to profit.
?
Sales
growth
–
for
companies
pioneering
innovative
products
or
technologies
to
develop markets.
?
Growth
in
market
share
–
to
enjoy
better
economies
of
scale
(more
profits,
lower
costs).
Status quo
objectives
?
Status quo:
“Don’t rock the pricing boat.”
?
To stabilize prices, or
meet competition, or even avoid competition.
?
Nonprice competition:
aggressive action on one or more of the Ps other
than price.
Price Flexibility Policies
?
One-price
policy
–
used in
mass selling
?
The same price to all customers who
purchase products under essentially
the
same conditions and quantities
?
Flexible
pricing (e.g., in channels, business markets,
expensive consumer
shopping products)
–
used in personal selling
?
Offering the same product and
quantities to different customers at
different prices.
Price level policies
Influencing factors
Skimming
price policy
Penetration pricing policy
Introductory
price
dealing:
temporary
price
cuts
to
speed
new
products
into
a
market.
Basic
list
prices:
are
the
prices
final
customers
or
users
are
normally
asked
to
pay for products.
Value pricing
–
setting a fair price level
for a marketing mix that really
gives
the target market superior customer value.
Factors influencing price levels
?
Demand
?
Costs
?
Competition
Skimming Pricing
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