Chapter 6
Capturing Customer Value: Price to Exchange
The concept of price in marketing has significantly evolved over the years. Traditionally, price was viewed merely as a monetary amount customers…
The 5 Cs of pricing provide a comprehensive framework for strategic pricing decisions. They include:
Company Objectives: The company's goals…
External factors that significantly impact a firm's pricing decisions are as follows:
Market Structures: In a perfectly competitive market,…
The three primary pricing methods that firms use to develop their pricing strategy are:
Cost-based Pricing: In this method, prices are set by…
Pricing tactics are short-term strategies businesses use to sell their offerings to meet specific objectives such as boosting sales, attracting new…
Some more pricing tactics include the following.
Rebate Pricing involves offering customers a partial refund after they have purchased a product…
Product mix pricing strategies guide businesses in optimizing profits across their product lines, each tailored to market needs and consumer…
The product mix pricing strategies are:
Product Line Pricing allows a company to offer a range of similar products that vary in quality, features, or…
Price adjustment strategies also vary based on customer demand, location, and competition.
• Dynamic and Internet Pricing is a strategy where…
Price cuts and increases are significant business strategies influencing profitability, market share, and customer perception.
Price Cuts:
Price cuts…