1、10-1i t s good and good for youChapter TenPricing:UnderstandingandCapturingCustomerValue10-2Pricing:Understanding and Capturing Customer ValueWhatIsaPrice?MajorPricingStrategiesOtherInternalandExternalConsiderationsAffectingPriceDecisionsTopicOutline10-3Priceistheamountofmoneychargedforaproductorser
2、vice.Itisthesumofallthevaluesthatconsumersgiveupinordertogainthebenefitsofhavingorusingaproductorservice.What Is a Price?10-4Priceistheonlyelementinthemarketingmixthatproducesrevenue;allotherelementsrepresentcostsWhat Is a Price?10-5Major Pricing StrategiesUnderstandinghowmuchvalueconsumersplaceonth
3、ebenefitstheyreceivefromtheproductandsettingapricethatcapturesthatvalueCustomerValue-BasedPricing10-6Major Pricing StrategiesCustomerValue-BasedPricing10-7Major Pricing StrategiesValue-basedpricingusesthebuyersperceptionsofvalue,notthesellerscost,asthekeytopricing.Priceisconsideredbeforethemarketing
4、programisset.Value-basedpricingiscustomerdrivenCost-basedpricingisproductdrivenCustomerValue-BasedPricing10-8Major Pricing StrategiesCustomerValue-BasedPricing10-9Major Pricing StrategiesGood-valuepricingofferstherightcombinationofqualityandgoodserviceatafairpriceCustomerValue-BasedPricing10-10Major
5、 Pricing StrategiesEverydaylowpricing(EDLP)chargingaconstanteverydaylowpricewithfewornotemporarypricediscountsCustomerValue-BasedPricing10-11Major Pricing StrategiesHigh-lowpricingcharginghigherpricesonaneverydaybasisbutrunningfrequentpromotionstolowerpricestemporarilyonselecteditemsCustomerValue-Ba
6、sedPricing10-12Major Pricing StrategiesValue-addedpricingattachesvalue-addedfeaturesandservicestodifferentiateoffers,supporthigherprices,andbuildpricingpowerCustomerValue-BasedPricing10-13Major Pricing StrategiesCost-basedpricingsettingpricesbasedonthecostsforproducing,distributing,andsellingtheprod
7、uctplusafairrateofreturnforeffortandriskCost-Based Pricing10-14Major Pricing StrategiesCost-basedpricingaddsastandardmarkuptothecostoftheproductCost-BasedPricing10-15Major Pricing StrategiesCost-BasedPricingTypesofcosts10-16Major Pricing StrategiesFixedcostsarethecoststhatdonotvarywithproductionorsa
8、leslevelRentHeatInterestExecutivesalariesCost-BasedPricing10-17Major Pricing StrategiesVariablecostsarethecoststhatvarywiththelevelofproductionPackagingRawmaterialsCost-Based Pricing10-18Major Pricing StrategiesTotalcostsarethesumofthefixedandvariablecostsforanygivenlevelofproductionCost-Based Prici
9、ng10-19Major Pricing StrategiesCostsasaFunctionofProductionExperience10-20Major Pricing StrategiesExperienceorlearningcurveiswhenaveragecostfallsasproductionincreasesbecausefixedcostsarespreadovermoreunitsCosts as a Function of Production Experience10-21Major Pricing StrategiesCost-pluspricingaddsas
10、tandardmarkuptothecostoftheproductBenefitsSellersarecertainaboutcostsPricesaresimilarinindustryandpricecompetitionisminimizedBuyersfeelitisfairDisadvantagesIgnoresdemandandcompetitorpricesCost-Plus Pricing10-22Major Pricing StrategiesBreak-evenpricingisthepriceatwhichtotalcostsareequaltototalrevenue
11、andthereisnoprofitTargetprofitpricingisthepriceatwhichthefirmwillbreakevenormaketheprofititsseekingBreak-Even Analysis and Target Profit Pricing10-23Major Pricing StrategiesBreak-EvenAnalysisandTargetProfitPricing10-24Major Pricing StrategiesSettingpricesbasedoncompetitorsstrategies,costs,prices,and
12、marketofferings.Consumerswillbasetheirjudgmentsofaproductsvalueonthepricesthatcompetitorschargeforsimilarproducts.Competition-basedpricing10-25Considerations in Setting Price10-26Other Internal and External Considerations Affecting Price DecisionsTargetcostingstartswithanidealsellingpricebasedoncons
13、umervalueconsiderationsandthentargetscoststhatwillensurethatthepriceismet10-27Other Internal and External Considerations Affecting Price DecisionsOrganizationalconsiderationsinclude:WhoshouldsetthepriceWhocaninfluencetheprices10-28OtherInternalandExternalConsiderationsAffectingPriceDecisionsBeforese
14、ttingprices,themarketermustunderstandtherelationshipbetweenpriceanddemandforitsproductsTheMarketandDemand10-29OtherInternalandExternalConsiderationAffectingPriceDecisionsCompetition10-30Other Internal and External Considerations Affecting Price DecisionsThedemandcurveshowsthenumberofunitsthemarketwi
15、llbuyinagivenperiodatdifferentpricesNormally,demandandpriceareinverselyrelatedHigherprice=lowerdemandForprestige(luxury)goods,higherpricecanequalhigherdemandwhenconsumersperceivehigherpricesashigherquality10-31OtherInternalandExternalConsiderationsAffectingPriceDecisions10-32Other Internal and Exter
16、nal Considerations Affecting Price DecisionsPriceelasticityofdemandillustratestheresponseofdemandtoachangeinpriceInelasticdemandoccurswhendemandhardlychangeswhenthereisasmallchangeinpriceElasticdemandoccurswhendemandchangesgreatlyforasmallchangeinprice10-33Other Internal and External Considerations
17、Affecting Price DecisionsPriceelasticityofdemand=%changeinquantitydemand%changeinprice10-34OtherInternalandExternalConsiderationAffectingPriceDecisions10-35_istheonlyelementinthemarketingmixthatproducesrevenue.1.Process2.Price3.Place4.Promotion10-36_istheonlyelementinthemarketingmixthatproducesreven
18、ue.1.Process2.Price3.Place4.Promotion10-37Everydaylowpricing(EDLP)isatypeof_pricingbasedonbuyersperceptions.1.value-added2.cost-based3.product-based4.good-value10-38Everydaylowpricing(EDLP)isatypeof_pricingbasedonbuyersperceptions.1.value-added2.cost-based3.product-based4.good-value10-39In_,themarke
19、tconsistsofmanybuyersandsellerswhotradeoverarangeofpricesratherthanasinglemarketprice.1.oligopolisticcompetition2.apuremonopoly3.monopolisticcompetition4.purecompetition10-40In_,themarketconsistsofmanybuyersandsellerswhotradeoverarangeofpricesratherthanasinglemarketprice.1.oligopolisticcompetition2.
20、apuremonopoly3.monopolisticcompetition4.purecompetition10-41_pricingusesbuyersperceptionsofvalue,notthesellerscost,asthekeytopricing.1.Cost-basedpricing2.Product-basedpricing3.Customervalue-basedpricing4.Competition-basedpricing10-42_pricingusesbuyersperceptionsofvalue,notthesellerscost,asthekeytopr
21、icing.1.Cost-basedpricing2.Product-basedpricing3.Customervalue-basedpricing4.Competition-basedpricing10-43_donotvarywithproductionorsaleslevel.1.Overheadcosts2.Variablecosts3.Totalcosts4.Sumcosts10-44_donotvarywithproductionorsaleslevel.1.Overheadcosts2.Variablecosts3.Totalcosts4.Sumcosts10-45Whatre
22、ferstothedropintheaveragecostwithaccumulatedproductionexperience?1.Economiesofscope2.Demandcurve3.Utilitycurve4.Learningcurve10-46Whatreferstothedropintheaveragecostwithaccumulatedproductionexperience?1.Economiesofscope2.Demandcurve3.Utilitycurve4.Learningcurve10-47Afoodprocessormanufacturerhasthefo
23、llowingcostsandexpectedsales:Variable cost=$15 per unitFixed cost=$600,000Expected unit sales=60,000Whatwouldbetheunitcost?1.202.253.154.2210-48Afoodprocessormanufacturerhasthefollowingcostsandexpectedsales:Variable cost=$15 per unitFixed cost=$600,000Expected unit sales=60,000Whatwouldbetheunitcost
24、1.202.253.154.2210-49Whatisthebreak-evenunitvolumeforacompanywithfixedcostsof$30,000,variablecostsof$10,andapriceof$20/unit?1.2,500units2.2,000units3.3,000units4.3,500units10-50Whatisthebreak-evenunitvolumeforacompanywithfixedcostsof$30,000,variablecostsof$10,andapriceof$20/unit?1.2,500units2.2,000
25、units3.3,000units4.3,500units10-51Whichtypeofmarketconsistsofafewsellerswhoarehighlysensitivetoeachotherspricingandmarketingstrategies?1.Oligopolisticcompetition2.Puremonopoly3.Monopolisticcompetition4.Purecompetition10-52Whichtypeofmarketconsistsofafewsellerswhoarehighlysensitivetoeachotherspricing
26、andmarketingstrategies?1.Oligopolisticcompetition2.Puremonopoly3.Monopolisticcompetition4.Purecompetition10-53Aresellerbuysaproductfromamanufacturerfor$40andwantstoearn20percentonthesalesprice.Whatwillthenewpricebe?1.482.603.544.5010-54Aresellerbuysaproductfromamanufacturerfor$40andwantstoearn20perc
27、entonthesalesprice.Whatwillthenewpricebe?1.482.603.544.5010-55ProjectsInterviewalocalbusinessabouttheirpricingphilosophyand/orstrategy.Usetheirtermsandthenapplywhatyouhavelearnedfromthemtoassesstheirapproachtothosedescribedinthetext.Whatarethesimilaritiesanddifferences?(Objective2)Usethelocalnewspap
28、ertocomparegrocerystoreadsforpricespecials.Whatcanyoudetermineaboutthecompetitorspricingstrategies?Howmanyofthetechniquesfromthechapterdotheorganizationsseemtobeusing?Whatstrategyappearstobethemostsuccessful?Howdidyoumakethisjudgment?(Objective2)HowdoesWalmartmakeuseofgood-valuepricing?(Objective2)E
29、xplainhowcompaniessuchasDellusecost-pluspricing.Whatarethecompetitivedisadvantagesofsuchpricingstrategies?(Objective3)Takeadrivearoundtownandlookatthepriceofgasolineatavarietyofdifferentstations.Useoligopolisticcompetitiontoexplainwhatyouareseeing.(Objective3)10-56Formstudentsintogroupsofthreetofive
30、EachgroupshouldreadRealMarketing10.1(p.318).Eachgroupshouldthenanswerthefollowingquestionsandsharetheiranswerswiththeclass.(Objective1)ExplainSouthernSunspricingstrategyinyourownwords.Whatismeantbytheterm,“price”inthiscompany?HowisSouthernSundistinguishingitselffromotherhotelchains?Analyzethestatem
31、ent,“Givepeoplesomethingofvalue,andtheyllgladlypayforit.”HowdoesitapplytoSouthernSun?Small Group Assignments10-57Rereadtheopeningsectionofthischapteron“WhatIsaPrice?”Imagineyouareconsideringpurchasinganewsuitforinterviewing.Youareconsideringcomparison-shoppingforyournewsuitatSaksFifthAvenue(high-end
32、departmentstore)andDillards(moderatedepartmentstore).Discusstheoveralldifferencesin“price”betweenthetwoestablishments.(Objective1)Whatiseverydaylowpricing?BesidesWalmart,whatcompaniesdoyoubelievehavebeenabletousethispricingstrategytogreatsuccess?(Objective2)Individual Assignments10-58Considerthefoll
33、owingquestions,formulateananswer,pairwiththestudentonyourright,shareyourthoughtswithoneanother,andrespondtoquestionsfromtheinstructor.Whatisprice?(Objective1)Discusstherolethatcustomervalueplaysinthedeterminationofprice.(Objective2)Explainthedifferencebetweenvalue-based,good-value,andvalue-addingpricingstrategies.(Objective2)Whatistarget-profitpricing?(Objective3)Explainthedemandcurve.(Objective3)Think-Pair-Share
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