PPT-Product, Pricing,

People Silvia L Coulter Principal LawVision Group The Law Firm Landscape ACC Northeast Chapter Presentation So far Metrics Legal work product Evolving mature market Shortterm leadership themes have remained consistent for a few years. By . Siva Rama Krishna. Vuppala. Pricing Strategies . Price is one of the most important elements for both buyers and sellers and maintaining an appropriate balance between the two is a crucial element of retailing. . 10: . Product, Branding, and Packing . Concepts. 11: . Business Markets and Buying Behavior. 12: . Developing and Managing Prices. 13: . Marketing Channels and Supply-Chain . Management. 14: . Retailing, Direct Marketing, and Wholesaling. What is it?. the value of money (or its equivalent) placed on a good or service. key of pricing. understanding . the . value. . buyers. place on a product. importance . of . price. helps . establish and maintain a firm’s image, competitive edge and profits. 14. Copyright © 2016 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education.. List the four pricing orientations.. Explain the relationship between price and quantity sold.. FAR Analysis & . Most Appropriate Method. CA Manas Rindani. Baroda Study Circle. May 2017. 1. Functions Assets & Risk Analysis (FAR). 2. Why FAR?. Reference to Statute. Steps followed in preparing study report. 15. Copyright © 2016 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education.. Identify three methods that firms use to set their prices.. Market Skimming. Market Skimming. High price, Low volumes. Skim the profit from the market. Suitable for products that have short life cycles or which will face competition at some point in the future (e.g. after a patent runs out). Price. . is the amount of money charged for a product or service. It is the sum of all the values that consumers give up in order to gain the benefits of having or using a product or service.. Price. Outline the legal constraints on pricing.. Identify the major categories of pricing objectives.. Explain price elasticity and its determinants.. List the practical problems involved in applying price theory concepts to actual pricing decisions.. ?. Pricing . is a marketing function in which both a buyer . and. a seller . perceive the . most favorable value . for a good or service. 2. Price– You get what you pay for…. What does that phrase mean to you?. Strategy. This strategy is when a business charges the maximum price, then later lowers the price to attract the second round of customers.. Then the second round of customers will buy the product since it’s way cheaper.. What is Price?. The value in money . (or it’s equivalent) . for the exchange of . a good or service.. psychological impact. . of pricing. Psychological impact of pricing is the customer’s emotional response to the price. (20 marks). Pricing methods and strategies. General considerations and objectives of pricing policy.. General consideration for pricing policy.. What is a price?. -- price is the amount of money charged for the good or service.. Philip . Kotler’s Pricing Strategies. , also known as the . Nine Quality-Pricing Strategy. , consists of a matrix of nine pricing options. . The goal is the assist companies to position products based on their perceived place in the market...