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PRICING

PRICING. How much is just right?. Pricing: What is it ?. Pricing is a marketing function in which both a buyer and a seller perceive optimum value for a good or service. Optimum Pricing. Buyers want low prices Sellers want high prices Optimum pricing lays somewhere in between

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PRICING

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  1. PRICING How much is just right?

  2. Pricing: What is it? • Pricing is a marketing function in which both a buyer and a seller perceive optimum value for a good or service

  3. Optimum Pricing • Buyers want low prices • Sellers want high prices • Optimum pricing lays somewhere in between • Optimum=Effective

  4. Characteristics of Effective Pricing • Realistic • Flexible • Competitive

  5. The Many Names of Prices • Interest • Wages/Salaries • Fees • Dues • Fare • Admission • Service Charge • Tuition • Rent

  6. Pricing and the Four P’sFactors Affecting Prices • Costs • Supply and Demand • Economic Conditions • Competition • Government Regulations • Company Objectives & Strategies

  7. Pricing and Product Decisions • Research • Materials used in production • Profit objectives • Customer targets • Company image

  8. Pricing and Promotion Decisions • Choice of medium • Amount of money to spend • Time allocated to promotion

  9. Pricing and Place Decisions • Choice of transportation mode and channels • Where the product is offered

  10. Pricing Objectives • Goals for marketing strategies • Will most likely relate to: • Profitability • Sales • Competition • Image/Prestige

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