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Author: Michael Kemmer
Publisher: GRIN Verlag
ISBN: 3656231257
Category : Business & Economics
Languages : en
Pages : 50
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Book Description
Seminar paper from the year 2009 in the subject Business economics - Offline Marketing and Online Marketing, grade: 1,3, University of Applied Sciences Berlin, language: English, abstract: When it comes to making buying decision, for example to buy a new car, the consumer is facing a numerous variety of prices for only one product. He or she has to decide whether to take the newest launched model or either the traditional one, with or without an insurance package, delivery or even buy from the internet. Naturally the consumer is reluctant to buy expensive products, when the run on cheap ones are omnipresent in today’s market. Companies try to undercut one another and conduct themselves in would-be price battles. But all this is owed to the fact that on the one side the consumers have decreasing real earnings, which lead to a higher price sensibility, and on the other side the companies look at saturated markets. These markets and their exhausted possibilities to differentiate the products cause a mass competition with the active implementation of pricing as a part of the marketing mix and as a competition instrument. This trend can not only be identified in the business to consumer (B2C) market, but it can also be found in the business to business (B2B) market. In addition an increasing consolidation processes in large parts of the industry and retailing business is recognizable by applying purchasing agents to trade cheaper prices by using their power of demand. Classical examples are the two big discounters like ALDI and LIDL, when it is obvious that they pass over these good conditions to their consumers and use this advantage in competition for their own business. Furthermore the internet with an increasing number of price comparison websites also contributes to this fight for the right price by offering price and product comparisons which hamper the strategies for a better price differentiation. A company’s survival and growth in such challenging and competitive environment depends among other things on the effectiveness of its applied pricing policy.
Author: Michael Kemmer
Publisher: GRIN Verlag
ISBN: 3656231257
Category : Business & Economics
Languages : en
Pages : 50
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Book Description
Seminar paper from the year 2009 in the subject Business economics - Offline Marketing and Online Marketing, grade: 1,3, University of Applied Sciences Berlin, language: English, abstract: When it comes to making buying decision, for example to buy a new car, the consumer is facing a numerous variety of prices for only one product. He or she has to decide whether to take the newest launched model or either the traditional one, with or without an insurance package, delivery or even buy from the internet. Naturally the consumer is reluctant to buy expensive products, when the run on cheap ones are omnipresent in today’s market. Companies try to undercut one another and conduct themselves in would-be price battles. But all this is owed to the fact that on the one side the consumers have decreasing real earnings, which lead to a higher price sensibility, and on the other side the companies look at saturated markets. These markets and their exhausted possibilities to differentiate the products cause a mass competition with the active implementation of pricing as a part of the marketing mix and as a competition instrument. This trend can not only be identified in the business to consumer (B2C) market, but it can also be found in the business to business (B2B) market. In addition an increasing consolidation processes in large parts of the industry and retailing business is recognizable by applying purchasing agents to trade cheaper prices by using their power of demand. Classical examples are the two big discounters like ALDI and LIDL, when it is obvious that they pass over these good conditions to their consumers and use this advantage in competition for their own business. Furthermore the internet with an increasing number of price comparison websites also contributes to this fight for the right price by offering price and product comparisons which hamper the strategies for a better price differentiation. A company’s survival and growth in such challenging and competitive environment depends among other things on the effectiveness of its applied pricing policy.
Author: Hermann Simon
Publisher: Springer
ISBN: 3319994565
Category : Business & Economics
Languages : en
Pages : 569
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Book Description
In this book, the world’s foremost experts on pricing integrate theoretical rigor and practical application to present a comprehensive resource that covers all areas of the field. This volume brings together quantitative and qualitative approaches and highlights the most current innovations in theory and practice. Going beyond the traditional constraints of “price theory” and “price policy,” the authors coined the term “price management” to represent a holistic approach to pricing strategy and tactical implementation. They remind us that the Ancient Romans used one word, pretium, to mean both price and value. This is the fundamental philosophy that drives successful price management where producer and customer meet. Featuring dozens of examples and case studies drawn from their extensive research, consulting, and teaching around the world, Simon and Fassnacht cover all aspects of pricing following the price management process with its four phases: strategy, analysis, decision, and implementation. Thereby, the authors take into account the nuances across industry sectors, including consumer goods, industrial products, services, and trade/distribution. In particular, they address the implications of technological advancements, such as the Internet and new measurement and sensor technologies that have led to a wealth of price management innovations, such as flat rates, freemium, pay-per-use, or pay-what-you-want. They also address the emergence of new price metrics, Big Data applications, two-sided price systems, negative prices, and the sharing economy, as well as emerging payment systems such as bitcoin. The result is a “bible” for leaders who recognize that price is not only a means to drive profit in the short term, but a tool to generate sustained growth in shareholder value over the longer term, and a primer for researchers, instructors, and students alike. Praise for Price Management “This book is truly state of the art and the most comprehensive work in price management.” - Prof. Philip Kotler, Kellogg School of Management, Northwestern University “This very important book builds an outstanding bridge between science and practice.“ - Kasper Rorsted, CEO, Adidas “This book provides practical guidelines on value creation, communication and management, which is an imperative for businesses to survive in the coming era of uncertainty.” - Dr. Chang-Gyu Hwang, Chairman and CEO, KT Corporation (Korea Telecom)
Author: Mccarthy E. Jerome
Publisher: McGraw-Hill/Irwin
ISBN: 9780256060485
Category :
Languages : en
Pages :
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Book Description
Author: Stephen J. Skripak
Publisher:
ISBN: 9780997920116
Category :
Languages : en
Pages : 442
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Book Description
(Black & White version) Fundamentals of Business was created for Virginia Tech's MGT 1104 Foundations of Business through a collaboration between the Pamplin College of Business and Virginia Tech Libraries. This book is freely available at: http://hdl.handle.net/10919/70961 It is licensed with a Creative Commons-NonCommercial ShareAlike 3.0 license.
Author: Kusum L. Ailawadi
Publisher:
ISBN:
Category : Pricing
Languages : en
Pages : 33
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Book Description
Author: IntroBooks Team
Publisher: IntroBooks
ISBN:
Category : Business & Economics
Languages : en
Pages : 26
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Book Description
The world of marketing has shown immense growth since its birth and is continually growing. The business companies in the market run into neck-to-neck competition with each other and thus it has become important for each and every business company to be the best. The kind of strategies that a company uses within its different marketing sectors greatly determines the successfulness of a company. Pricing Strategies can be defined as a way or a method of finding a competitive price of a product or a service. Pricing strategies are designated as one of the most important and highly demanded components in the field of the marketing mix. It helps the consumer in setting up an image regarding the standards and the quality of the final products rendered by the company thereby facilitating in the creation of an exceptional reputation of the firm in the market. Product pricing has a big effect on the objectives of the company. It is important for the companies to use pricing strategically for adjusting the performance so that they can meet their revenue or profit objectives. However, the use of a pricing strategy can also have an unintended or adverse effect on the objectives of the company. The product pricing affects each of the price objectives – Profit, Customer and competitive. Making a decision regarding the pricing of the product by keeping in mind the value that it renders and sticking to the characteristics of the pricing strategy in use at the same time can be tricky. But sticking with the laws of psychology in pricing makes it a little easier. Thomas Nagle and Reed Holden came up with nine principles or laws that affect the psychology of the customers with regard to their decision of purchase. By making use of these laws, one can make the required adjustments in their pricing strategy after knowing the psychology of the customers. It is important to understand the fact that the ultimate goal of the company is to increase its profit margins over time whilst being in competition as well as to be able to sustain the competitive market. However, it is essential that the marketer is able to maximize his/her profits along with retaining their consumer and one should select an appropriate pricing strategy for sales for the same purpose.
Author: David Carnicer Sospedra
Publisher: ESIC
ISBN: 8416701415
Category : Business & Economics
Languages : en
Pages : 80
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Book Description
The marketing mix is the coherent combination of policies of Product, Price, Distribution and Communication which, well structured, allows us to introduce a differentiated offering in a market with the intention of adequately position ourselves to achieve sales and profits. Just like in the different elements of the marketing mix there may always exist some element of subjectivity, since it is difficult at times to determine whether a product has higher quality than another, whether a promotional policy is more efficient than another or whether a distribution channel is more suitable than another, when we talk about Price in international negotiations it is obvious that a product that costs 100 euros is cheaper than another one that costs 200 euros. In fact, we could say that with the marketing mix we are just trying to divert the customer’s attention into the rest of the elements of marketing other than price, in order to add value to the offering and try to justify the price that we demand. Price is such an essential element that, once established, we must make the customer accept it. It is crucial, therefore, to know the use of the concepts, criteria and tactics that are developed below in order to set the pricing policy to be followed in our international sales and maximize performance. Moreover, Price fixing in the international market setting is much more complicated than in the domestic market, because in addition to the usual difficulties there are constraints derived from different markets (different legal and economic settings, competitive situation, relationship between the different markets, etc.) And very often our knowledge of foreign markets is not as deep as the one we have of our own market. On the other hand, the Pricing policy has a potentiality, which is that Price determination allows a Company to have a flexible instrument within the marketing-mix to quickly modify their strategies. It is much slower acting on the distribution policy, for instance. It should be clear that the pricing policy is first and foremost a «marketing policy», i.e a system or method that enables us to achieve our objectives and not just a check list on which to calculate our costs. It is a marketing tool that should allow us to (Bertrán, 1994): (1) obtain some profits on the investments made, (2) gain a position in the market and (3) face competition. But all in a manner that is consistent with the other elements of the marketing mix and in a dynamic way. Contents 1. INTRODUCTION: PRICE AND INTERNATIONAL STRATEGY 2. BASIC FOR PRICE SETTING 3. COMPARISON BETWEEN DOMESTIC PRICES AND EXPORT PRICES 4. DETERMINANTS OF THE EXPORT PRICE 5. METHODS OF INTERNATIONAL PRICING 6. INTERNATIONAL PRICES QUOTATION 7. PRICING POLICY IN PERIOD OF INFLATION 8. INTERNATIONAL TRANSFER PRICES 9. MEHODS TO CHANGE PRICES 10. BIBLIOGRAPHY AND WEBSITES
Author: Lawrence J. Gitman
Publisher:
ISBN: 9781947172555
Category : Business
Languages : en
Pages : 732
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Book Description
Introduction to Business covers the scope and sequence of most introductory business courses. The book provides detailed explanations in the context of core themes such as customer satisfaction, ethics, entrepreneurship, global business, and managing change. Introduction to Business includes hundreds of current business examples from a range of industries and geographic locations, which feature a variety of individuals. The outcome is a balanced approach to the theory and application of business concepts, with attention to the knowledge and skills necessary for student success in this course and beyond.
Author: Robert M. Schindler
Publisher: SAGE Publications
ISBN: 1483305449
Category : Business & Economics
Languages : en
Pages : 417
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Book Description
"This book is consistent in its treatment, thorough, correct in scholarship, and well-researched. An impressive achievement given the breadth and complexity of the area."– Randolph E. Bucklin, Peter W. Mullin Professor of Marketing, Anderson School of Management, University of California, Los Angeles Written by a leading pricing researcher, Pricing Strategies makes this essential aspect of business accessible through a simple unified system for the setting and management of prices. Robert M. Schindler demystifies the math necessary for making effective pricing decisions. His intuitive approach to understanding basic pricing concepts presents mathematical techniques as simply more detailed specifications of these concepts.
Author: Philip Kotler
Publisher: Amacom Books
ISBN: 9780814472958
Category : Business & Economics
Languages : en
Pages : 196
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Book Description
According to Kotler distills the essence of marketing guru Philip Kotler's wisdom and years of experience into an immensely readable question and answer format. Based on the thousands of questions Kotler has been asked over the years, the book reveals the revolutionary theories of one of the profession's most revered experts.
