Module 4

Angel Holivelle Carasco · 32問 · 1年前

通報

問題一覧

are the methods and approaches that businesses use to set the prices of their products or services.

Pricing Strategies

Pricing strategies are designed to achieve specific business objectives:

To Attract Customers, • To Make Sales • To Maximize Profits

• is a pricing strategy where the price of a product or service is determined by calculating the cost of production and then adding a desired profit margin. In other words, the selling price is based on the total costs incurred in manufacturing or providing the product, along with the profit the business aims to make.

Cost-Based Pricing (Cost-Plus Pricing)

• is a pricing strategy where the price of a product or service is determined based on the perceived value it provides to the customer. Instead of setting prices solely based on production costs or competitors' prices, value-based pricing considers the value that customers are willing to pay for the benefits they receive.

Value-Based Pricing

Two Types of Value-Based Pricing

1. Good-Value Pricing 2. Value-Added Pricing

-refers to the practice of pricing a product based on its quality or the service that it provides to a customer. This doesn't necessarily mean offering the lowest price. Instead, it means providing a combination of quality, features, and benefits that justify the price asked. The aim is to create a perception of value for customers so that they feel they are getting a good deal for what they pay.

1. Good-Value Pricing

- is a strategy of offering more features or services to make a product more valuable, and thereby allowing businesses to charge a higher price for it. Providing additional benefits to customers is one of the best ways to differentiate a company from others and attract customers who will happily pay more for added value than the competition provides.

2. Value-Added Pricing

refers to the process of determining the price at which goods or services are sold to end consumers in a retail environment. This pricing strategy takes into account various factors such as production costs, market demand, competitor prices, and perceived value to customers.

Retail Pricing

is the sale of goods and services in small quantities to the consumers for use or consumption. It involves businesses or stores that buy products from manufacturers or wholesalers and then sell them to individual customers at a markup. • is the final step in the distribution of merchandise.

Retail

is a person or business who buys goods from manufacturers or wholesalers in large quantities, and sells them in small quantities to the end consumer at a higher unit price.

Retailer

is the process of setting specific goals and evaluating their achievement within a defined time frame in order to achieve the objectives of an organization.

Business Objectives

For many companies, the goal when setting prices is to maximize profitability. To affect profitability, pricing can be used to influence either the number of units sold or costs.

1. Maximizing Profitability

- Companies may choose to sell products that lead to further sales and business are sold.This is especially true of base products that require additional products or accessories to function in the future (e.g., printers and ink cartridges). To increase profitability, companies will often try different pricing schemes to ensure future or repeat customers.

2. Promoting Future Sales

- is a term used to measure how easy or difficult it is to switch to a competitor’s product or service.

. Switching Cost

- Almost every business has competitors with whom it is competing for a finite number of customers and sales. To succeed, a business must distinguish itself from its competitors. One tactic businesses use is lowering their price to be in line with or lower than a competing product.

4. Beating Out Competitors

- When entering a new market, it is sometimes more important to increase sales and market share than to maximize profitability. Lowering prices can be an effective method to attract new customers. This can lead to additional customers trying a product and staying loyal to it in the future.

5. Gaining Exposure/Entering a New Market

some of the different business objectives in businesses:

1. Maximizing Profitability 2. Promoting Future Sales 3. Switching Cost 4. Beating Out Competitors 5. Gaining Exposure/Entering a New Market

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