Submitted by: Submitted by rajesh007
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Category: Business and Industry
Date Submitted: 06/28/2011 08:40 PM
Unit 1: Introduction
Definition
Unit 2:
Marketing Mix/ 4Ps of Marketing
The Marketing Process
Understanding the Marketplace & Customer Needs
Product/Service
Levels of Product/Services
Classification of Products/Services
Types of Consumer Products
Contd..
Industrial Products
Product/Service Decisions
1. Individual Product Decisions
Product Attributes
Branding
Packaging
Labeling
Product Support Services
2. Product Line Decisions
3. Product Mix Decisions
New Product Development
Stages in New Product Development
Idea Generation
Contd…
Idea Screening
Concept Development & Testing
Marketing Strategy Development
Business Analysis
Product Development
Test Marketing
Contd…
Commercialization
Product Life Cycle
Contd…
Contd….
Unit 3: Pricing
Factors Affecting Pricing Decisions
Marketing Objectives
Marketing Mix Strategy
Costs
Organizational Considerations
External Factors Affecting Pricing
Contd…
2. Competition
3. Other External Factors
Contd…
General Pricing Approaches
A. Cost based Approach
1. Cost-Plus Pricing
2. Break Even pricing/Target Profit Pricing
B. Buyer based Approach/Value based
C. Competition based Approach
1. Going Rate Pricing
2. Sealed-bid Pricing
A. Cost based Approach
1. Cost-Plus Pricing/Markup
Adding a standard markup to the cost of the pricing.
A marketer considers both the price floor and price ceiling.
However, it is said that any pricing method that ignores demand and competitor prices is not likely to lead to the best price.
Contd…
2. Break Even Pricing/Target Profit Pricing:
Setting price to break even on the costs of making and marketing a product; or setting price to make a target profit.
B. Buyer based/Value based Approach
Setting price based on buyer’s perceptions of value rather than on the seller’s cost.
The marketer cannot set the price after designing a product and marketing program.
Here pricing begins with analyzing consumer needs and value perceptions.
Finally the...