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Chapter 14 - Developing Pricing Strategies and Programs
1. Top 10 ConceptsChapter 14Developing Pricing Strategies and ProgramsMarketing Management 13th Ed.Kotler, Keller 2009 SPGenius Nice Quitoriano September 2011 Prof. Bong de Ungria http://jeannequitoriano.blogspot.com
2. 10 Concepts Understanding Pricing Concept 1 - A Changing Price Environment Concept 2 - How Companies Price Concept 3 - Consumer Psychology and Pricing http://jeannequitoriano.blogspot.com
4. 10 Concepts Initiating and Responding to Price Changes Concept 8 - Initiating Price Cuts Concept 9 - Initiating Price Increases Concept 10 - Responding to Competitors’ Price Changes http://jeannequitoriano.blogspot.com
5. Concept 01Understanding Pricing: A Changing Pricing Environment Pricing practices have changed significantly in recent years. Internet allows sellers to discriminate between buyers and buyers to discriminate sellers http://jeannequitoriano.blogspot.com
6. Concept 01Understanding Pricing: A Changing Pricing Environment Buyers can: Get instant price comparisons from thousands of vendors Exempli gratia: Hotel Prices www.tripadvisor.com http://jeannequitoriano.blogspot.com
7. Concept 01Understanding Pricing: A Changing Pricing Environment Buyers can: Name their price and have it met. Exempli gratia: EBAY Phils. Auctioning www.ebay.ph http://jeannequitoriano.blogspot.com
8. Concept 01Understanding Pricing: A Changing Pricing Environment Buyers can: Get products free. Exempli gratia: PHP www.php.com PHP is one of the popular open source Web Programming Languages http://jeannequitoriano.blogspot.com
9. Concept 01Understanding Pricing: A Changing Pricing Environment Sellers can: Monitor customer behaviour and tailor offers to individuals Exempli gratia: Tiangge and Markets http://jeannequitoriano.blogspot.com
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11. Give certain customers access to special pricesExempli gratia: CD-King www.cdrking.com CD-R King is known as the bagsak-presyo unbranded gadgets store in the Philippines http://jeannequitoriano.blogspot.com
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13. Negotiate prices in online auctions and exchangesExempli gratia: TipidPC Items for Sale www.tipidpc.com Members can negotiate prices of the items being sold. Sometimes items can be swapped with other items http://jeannequitoriano.blogspot.com
14. Concept 02Understanding Pricing: How Companies Price Small companies: prices are set by boss. Large companies: handled by division and product-line managers http://jeannequitoriano.blogspot.com
29. Seller receives full payment in cash but agrees to spend a substantial amount of the money in that country within a stated time periodhttp://jeannequitoriano.blogspot.com
53. Case 3: Image Pricinghttp://jeannequitoriano.blogspot.com
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55. Case 4: Channel PricingPork Kasim (1kg) Local Wet Market = PhP 160.00 Supermarket = PhP 180.00 http://jeannequitoriano.blogspot.com
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57. Case 5: Location PricingDutch Metro “Thalys” Day Tour First Class = EUR 6.30 Second Class = EUR 5.20 Route : Koog-Zandijk to Schiphol http://jeannequitoriano.blogspot.com
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59. Case 6: Time Pricinghttp://jeannequitoriano.blogspot.com
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61. Drive to dominate the market through lower costshttp://jeannequitoriano.blogspot.com
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63. Consumers assume quality is lowExempli Gratia: CDRKING’s 32” LCD TV vsAbenson’s TCL 32” LCD TV http://jeannequitoriano.blogspot.com
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65. Low price buys market share but not market loyaltyExempli Gratia: MangInasalvsChicboy http://jeannequitoriano.blogspot.com
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67. Higher-priced competitors match the lower prices but have longer staying power because of deeper cash reserveshttp://jeannequitoriano.blogspot.com
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69. Competitors respond by lowering their prices even more, triggering a price warExempli Gratia: http://jeannequitoriano.blogspot.com
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71. Concept 09Initiating and Responding to Price Changes: Initiating Price Increases Best example of the circumstances: Gas Price http://jeannequitoriano.blogspot.com
72. Concept 10Initiating and Responding to Price Changes: Responding to Competitors’ Price Changes The company must consider the following: Product’s stage in the life cycle Product’s importance in the company’s portfolio Competitor’s intentions and resources http://jeannequitoriano.blogspot.com
73. Concept 10Initiating and Responding to Price Changes: Responding to Competitors’ Price Changes The company must consider the following: Market’s Price and Quality Sensitivity Behaviour of costs with volume Alternative Opportunities http://jeannequitoriano.blogspot.com
74. Top 10 ConceptsChapter 14Developing Pricing Strategies and ProgramsMarketing Management 13th Ed.Kotler, Keller 2009 SPGenius Nice Quitoriano September 2011 Prof. Bong de Ungria http://jeannequitoriano.blogspot.com
