The Marketing Series 6: The Marketing Mix: Price

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Details


35 mins, 2013

PART 1 (9 mins): Introduction to Price: Basic pricing formulas explained. Price & Income Elasticity Of Demand. Normal goods and Inferior Goods. The Price Plateau.

PART 2 (11 mins): Pricing Strategies:. Cost Plus, Penetration, Predatory, Promotional pricing, plus examples. Also: psychological pricing and differential pricing. What do we mean by “skimming the market”?

PART 3 (15 mins): Pricing Case Studies:. The catering trade: how do rising costs affect pricing strategies?Innocent Drinks command a premium price, but have new products undermined their usp? 99p Stores use price as a strategic weapon. Ryanair a classic case of penetration pricing. Diesel uses its brand image to charge top prices. But “price” can have damaging social effects: we look at cheap alcohol sales in supermarkets and energy sector pricing. Is it effectively a monopoly?

Key Topics

  • Pricing Strategies
  • Price & Income Elasticity Of Demand
  • Penetration Pricing
  • Promotional & Premium Pricing
  • Skimming
  • Price Discrimination