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Marketing Mix: Pricing Strategies
 
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Review the basics of the price component of the marketing mix. This critical element of your marketing strategy can make or break your competitive position. Provided by Rasmussen College School of Business.Download the PowerPoint presentation at http://www.sophia.org/marketing-mix-pricing-basics-tutorial
Views: 224064 Soma Datta
The Product Mix | Hindi | Marketing topics
 
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Views: 36593 Intellectual Indies
Product Mix Pricing Strategy in URDU/HINDI
 
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HERE ARE THE LINKS FOR MY ALL VIDEOS YOU MAY LIKE  Links for; MOTIVATIONAL videos (40 + videos) https://www.youtube.com/watch?v=WM3Upd0MeDg&index=19&list=PLU-cxjF-s0HmnD_TYqmkb6VBL6AusSB_Y RESEARCH & THESIS Writing (6 videos) https://www.youtube.com/watch?v=ib7yYggOgpA&t=308s&list=PLU-cxjF-s0HlVJnf2dev1KtoAD3ZljWVg&index=3 OLIGOPOLY & GAME THEORY ( 6 videos) https://www.youtube.com/playlist?list=PLU-cxjF-s0HnlCialpcyfz0O8xminDXja Basics of ECONOMICS; Micro & Macro (25 + videos) https://www.youtube.com/playlist?list=PLU-cxjF-s0HngkQ9xdQ5waYtpEO2MkP-D ECONOMETRICS; An introduction (20 + videos) https://www.youtube.com/watch?v=WNf1DLTRlTo&index=7&list=PLU-cxjF-s0Hk0DOXPqauiHBfRgaFpqYxK&t=0s Principles of MARKETING ( 10+ videos) https://www.youtube.com/watch?v=mCAogfEz6bs&t=0s&list=PLU-cxjF-s0HlgTwSl9Xk3bx5z8q7kOD6F&index=12 Management; HRM & STRATEGIC MANAGEMENT ( 6 videos) https://www.youtube.com/watch?v=uO3azOb2icE&t=314s&list=PLU-cxjF-s0Hml7o706eKofZ7D4bXIcJwH&index=6 ========= About KOKAB MANZOOR ========= Kokab Manzoor is Certified Trainer, Speaker & Career Counsellor. He has trained thousands of students & Professionals about Leadership & Management skills, Motivation, Personality Grooming, Career selection and about variety of other life skills. Has a sound understanding of needed traits for workplace success and a strong ability to train employees in improving those characteristics. Follow me www.Youtube.com/kokabmanzoor www.Facebook.com/kokabmanzoor19 [email protected] http://kokabmanzoor1.blogspot.com/
Views: 328 Kokab Manzoor
The Marketing Mix - Pricing
 
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On Facebook: https://www.facebook.com/365careers/ On the web: http://www.365careers.com/ On Twitter: https://twitter.com/365careers Subscribe to our channel: https://www.youtube.com/365careers This lesson on Marketing strategy introduces the concept of Pricing. Watch more at https://www.udemy.com/mba-in-a-box-business-lessons-from-a-ceo . This video is part of a series of short lessons about Business Strategy. The complete module can be found on Udemy, as a core part of the MBA in a Box course by CEO Valentina Bogdanova and 365 Careers. The course provides a complete Business Education: Business Strategy, Management, Marketing, Accounting, Decision Making & Negotiation in just under 10 hours. -------------------------------------------------- Marketing module table of contents: Marketing: An Introduction Introduction to Marketing What is Marketing's role? Who works in Marketing? Marketing's key processes Marketing: Building a Marketing Strategy What is a marketing plan? The psychology of customers - needs, wants, and demands Conducting marketing research The different stages of marketing research Collecting Primary Data for Marketing Research Performing client segmentation Choosing a target customer group Marketing: How to set up an effective Marketing Mix The four Ps of Marketing and their importance Marketing: How to set up an effective Marketing Mix - Product decisions The product concept Classifying a firm's products The typical product lifecycle Product branding Product packaging Marketing: How to set up an effective Marketing Mix - Pricing decisions The variables influencing product pricing The demand curve Performing break-even calculations Marketing: How to set up an effective Marketing Mix - Place decisions Setting up product distribution Types of distribution channels The advent of e-commerce Marketing: How to set up an effective Marketing Mix - Promotion decisions The essence of marketing promotion Creating a marketing campaign The importance of social media Marketing: How to set up an effective Marketing Mix - A dynamic concept The four Ps of Marketing - A dynamic concept Marketing: Marketing strategy in the long run Allocating the funds available for Marketing - The budgeting exercise Using KPIs to improve decision-making Short-term vs. Long-term marketing goals Interpreting and calculating the Customer-Lifetime-Value formula -------------------------------- Pricing is the one variable a company can change overnight and see an immediate effect on revenues and profits. However, pricing decisions inconsistent with a firm’s competitive strategy can be dangerous, which is why companies should address the topic with much caution and attention. There are three important components we need to distinguish in this process. The amount a product costs to be produced, the price customers pay to buy the product, and the value they acquire from the product. If a company aims at cost leadership, then the focus will be costs (trying to keep them as low as possible). The company must offer a price slightly lower than the one offered by competitors. Conversely, if a firm’s strategy is differentiation, then the critical factor will be the value delivered to customers. Costs are not that important, as companies offering a differentiated product can charge more. So, pricing must be coherent with competitive strategy, although sometimes it is tempting to adjust prices to stimulate short-term gains of market share and increases of sales. Top-level managers have to stay focused on the big picture and make coherent decisions in line with the firm’s long-term strategy.
Views: 18597 365 Careers
product mix pricing strategies
 
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This is the most easy and best notes about product mix pricing strategy for those who are marketing students .it will help you best to know the difficult and confused terminology within short period of time .i hope this notes will help you best.please don't forget to like , comment and subscribe this channel.
Views: 1590 Aimy Khan
The Product MIx
 
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Go Premium for only $9.99 a year and access exclusive ad-free videos from Alanis Business Academy: http://bit.ly/1Iervwb For access to additional courses and content, visit www.alanisbusinessacademy.com YouTube Channel: http://bit.ly/1kkvZoO Website: http://bit.ly/1ccT2QA Facebook: http://on.fb.me/1cpuBhW Twitter: http://bit.ly/1bY2WFA Google+: http://bit.ly/1kX7s6P The product mix represents the collection of different products that a business offers its customers. With an understanding of the product mix, businesses can develop a strategy to reach their customers by offering the right collections of goods and services. Learn more about the product mix in the latest lecture from Alanis Business Academy. In addition to learning general information about the product mix, you'll also learn how some of the strategy behind widening and narrowing a product mix.
Pricing Strategies
 
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Pricing Strategies
Views: 150694 Thompson VSE
Pricing Strategies - How to price a product
 
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http://www.evancarmichael.com/support/ - SUPPORT ME :) Like this video? Please give it a thumbs up below and/or leave a comment - Thank you!!! Help me caption & translate this video! http://www.amara.org/en/profiles/videos/Evan%20Carmichael/ Eduardo Orellana: "Hi +Evan Carmichael I have a question for you, what happens if you've found a product or service that people need and it is extremelly valuable but are having a hard time deciding how much to charge people for it? "
Views: 80074 Evan Carmichael
New Product and Product mix pricing
 
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New Product Pricing and Product Mix Pricing Strategies -- Created using Powtoon -- Free sign up at http://www.powtoon.com/youtube/ -- Create animated videos and animated presentations for free. PowToon is a free tool that allows you to develop cool animated clips and animated presentations for your website, office meeting, sales pitch, nonprofit fundraiser, product launch, video resume, or anything else you could use an animated explainer video. PowToon's animation templates help you create animated presentations and animated explainer videos from scratch. Anyone can produce awesome animations quickly with PowToon, without the cost or hassle other professional animation services require.
Views: 21 Jordan Wright
pricing products pricing strategies
 
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Subscribe today and give the gift of knowledge to yourself or a friend pricing products pricing strategies Pricing Products: Pricing Strategies. Chapter 11. Learning Goals. Describe the major strategies for pricing imitative and new products Understand how companies find a set of prices that maximize the profits from the total product mix Slideshow 3031508 by prince show1 : Pricing products pricing strategies show2 : Learning goals show3 : Definitions show4 : Product mix pricing strategies show5 : Product mix pricing strategies1 show6 : Product mix pricing strategies2 show7 : Product mix pricing strategies3 show8 : Price adjustment strategies show9 : Price adjustment strategies1 show10 : Price adjustment strategies2 show11 : Price adjustment strategies3 show12 : Price adjustment strategies4 show13 : Price adjustment strategies5 show14 : Price adjustment strategies6 show15 : Price adjustment strategies7 show16 : Initiating and responding to price changes show17 : Price changes show18 : Price changes1 show19 : Price changes2 show20 : Price changes3 show21 : Price changes4 show22 : Public policy and pricing show23 : Pricing products pricing strategies
Views: 33 slideshowing
#29, Marketing mix, price mix and strategy( Class 12 Business)
 
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Class 12 business studies ... Marketing mix... Price mix..... Mind your own business video 29 Also watch my other channel for economics.. Economics on your tips..
Views: 152668 Mind your own business
Product Mix Pricing Strategies
 
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Group Presentation Number 3 Pricing Strategies & Tactics
3 Pricing Strategies Everyone Should Know
 
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Visit www.ground-glass.com for more information. Ground Glass is the wedding photography resource for breaking through barriers and finding real-world business information.
Views: 78245 Spencer Lum
A level Business Revision - Pricing Strategies
 
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In this A level Business Studies revision video, we teach you the most common PRICING STRATEGIES used by organisations and assess the merits of each one. Pricing strategies is a topic on all of the major exam boards A level business specifications. A level Business Studies Revision from TakingTheBiz.
Views: 14857 TakingTheBiz
Price
 
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This screen-capture video lesson considers price and pricing as part of the marketing mix.
Views: 26533 Tim Friesner
Pricing Strategy An Introduction
 
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An introduction to the subject of Pricing Strategy and an overview of some of the tools and theories available in connection with the determining of price of a product or a service. This video is aimed at marketing management students.
Views: 105987 Tine Wade
Unit 5 - Marketing Mix - Product & Price
 
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This video tutorial looks at the marketing mix in particular in product & price.
Views: 1815 ExamRevision
Product Mix
 
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Product Mix Lecture By: Ms. Madhu Bhatia, Tutorials Point India Private Limited
The Marketing Mix - The product concept
 
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On Facebook: https://www.facebook.com/365careers/ On the web: http://www.365careers.com/ On Twitter: https://twitter.com/365careers Subscribe to our channel: https://www.youtube.com/365careers This lesson on Marketing strategy introduces the first P of the Marketing mix - the product. Watch more at https://www.udemy.com/mba-in-a-box-business-lessons-from-a-ceo . This video is part of a series of short lessons about Business Strategy. The complete module can be found on Udemy, as a core part of the MBA in a Box course by CEO Valentina Bogdanova and 365 Careers. The course provides a complete Business Education: Business Strategy, Management, Marketing, Accounting, Decision Making & Negotiation in just under 10 hours. -------------------------------------------------- Marketing module table of contents: Marketing: An Introduction Introduction to Marketing What is Marketing's role? Who works in Marketing? Marketing's key processes Marketing: Building a Marketing Strategy What is a marketing plan? The psychology of customers - needs, wants, and demands Conducting marketing research The different stages of marketing research Collecting Primary Data for Marketing Research Performing client segmentation Choosing a target customer group Marketing: How to set up an effective Marketing Mix The four Ps of Marketing and their importance Marketing: How to set up an effective Marketing Mix - Product decisions The product concept Classifying a firm's products The typical product lifecycle Product branding Product packaging Marketing: How to set up an effective Marketing Mix - Pricing decisions The variables influencing product pricing The demand curve Performing break-even calculations Marketing: How to set up an effective Marketing Mix - Place decisions Setting up product distribution Types of distribution channels The advent of e-commerce Marketing: How to set up an effective Marketing Mix - Promotion decisions The essence of marketing promotion Creating a marketing campaign The importance of social media Marketing: How to set up an effective Marketing Mix - A dynamic concept The four Ps of Marketing - A dynamic concept Marketing: Marketing strategy in the long run Allocating the funds available for Marketing - The budgeting exercise Using KPIs to improve decision-making Short-term vs. Long-term marketing goals Interpreting and calculating the Customer-Lifetime-Value formula -------------------------------- There are two main types of products that can be offered to clients – goods and services. Whether we talk about goods or services, we can say, usually, people are not just buying a product that solves one of their basic needs. They acquire the benefits and satisfaction they believe they’ll obtain from the product. They are interested in symbols and ideas that help them relate the product to a desired lifestyle and positive expectations about the future. Customers do not simply buy products because they satisfy their needs. Instead, they are interested in becoming clients of firms that offer them a complete product concept – an idea or a promise, if you will. The best products make people happier and create a positive expectation before being consumed.
Views: 17347 365 Careers
Product Mix - Marketing Management Video Lecture by Prof. Vijay Prakash Anand
 
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"MARKETING MANAGEMENT MASTERCLASS" Course Link and Discount Code: https://www.udemy.com/marketing-management-masterclass/?couponCode=MARKETINGYT In this video, I have talked about Product Mix. ................................................................................................ Web: www.marketingbyvijay.com Check out my blog: https://marketingbyvijay.wordpress.com/ Like my Facebook Page: https://www.facebook.com/marketingbyv... Please send your queries, feedback and suggestions on [email protected]
Views: 13520 Marketing by Vijay
Marketing: Pricing
 
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Marketing: Overview of price and pricing.
Views: 37116 Brian K. McCarthy
Marketing Mix: Product Strategy
 
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Product in the marketing mix or Product Marketing? Learn the difference and more in this video to build your marketing skills. * Differentiate between product and product marketing * Redefine product for the modern economy * Explain the components of product decisions * Make a case for leading with benefits * Identify the reasons products fail * Summarize support of quality product intros Watch the other videos in the playlist: https://www.youtube.com/playlist?list=PL6F365386C75BB026
Views: 18324 Soma Datta
Episode 104: Pricing Objectives and Strategies
 
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Go Premium for only $9.99 a year and access exclusive ad-free videos from Alanis Business Academy. Click here for a 14 day free trial: http://bit.ly/1Iervwb View additional videos from Alanis Business Academy and interact with us on our social media pages: YouTube Channel: http://bit.ly/1kkvZoO Website: http://bit.ly/1ccT2QA Facebook: http://on.fb.me/1cpuBhW Twitter: http://bit.ly/1bY2WFA Google+: http://bit.ly/1kX7s6P Listen to Alanis Business Academy on the go by downloading our new podcast: iTunes: http://bit.ly/1dwKyWi Stitcher: http://bit.ly/PvPjoa Tunein: http://bit.ly/1gLsDH4k Every business maintains a specific pricing objectives or goal that dictates the decisions that they make with regards to price-setting. Within each pricing objective, businesses have several strategies designed to assist them in achieving their objectives. In this video we'll discuss four of the common pricing objectives as well as highlight several strategies within those objectives. If you have any questions please post a comment in the comments back and I'll get back to you as soon as I can. Thanks for watching.
Marketing Mix - Prince/Pricing Strategy, Marketing Management Part - 6, Business Studies Class 12
 
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We will study Price Mix of Marketing Mix. Factors determining price:- Pricing Objective Product Cost Competition in the market Utility and Demand Government and legal regulations Marketing method used
Views: 13503 Prince Academy
Product line pricing strategies
 
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If you have a wide portfolio of products that includes like products as well as interchangeable and complementary ones, take a look at our video. It is dedicated to assortment-based pricing strategies. There are four of them, called “Selection”, “Set”, “Above par”, and “Image”. Which one fits you best?
The 4 Ps of The Marketing Mix Simplified
 
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Learn how Product, Price, Promotion and Place create an effective Marketing Mix. Humorous examples depict various Target Markets in this easy-to-understand video. From the Design & Marketing curriculum by Paxton/Patterson Learning Systems. Learn more at http://www.paxtonpatterson.com/actionlabs-overview.aspx ©2017 Paxton/Patterson Animation: Peter Deuschle Voice-over: Peter Deuschle
Views: 94067 Paxton/Patterson
Elements of Marketing Mix 2 Pricing Class XII Business Studies by Ruby Singh
 
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For the first time in INDIA, textbook in Economics, Accountancy & Business Studies with FREE Video Lectures by Eminent Authors/Subject Expert. To buy books visit www.goyal-books.com To view FREE Video Lectures visit www.goyalsOnline.com/commerce About the Book » Written strictly according to the latest syllabus prescribed by the CB.S.E., New Delhi. » Up-to-date study material provided by using the latest available data. » Elaborate explanation of the concepts. » Summary (Points to Remember) given at the end of each Chapter. » Numerical Problems from previous years' question papers incorporated and solved in the respective Chapters. » Methodology of solving typical numerical problems given wherever necessary. » Methodology of drawing typical diagrams given wherever necessary. » Comprehensive Exercises given at the end of each Chapter. » Sample Question Paper given at the end of the book. » Multi-disciplinay Problems given at the end of the books. » Video lectures on each topic with replies to queries for better and clear understanding of the concepts by the Author/Subject Matter Expert. Benefits of Video Lectures » Easy to access anytime: With video lectures, students can learn anywhere from their mobile devices: desktops, laptops, tablets or smartphones. » Students learn when they are primed to learn. » Students can pause, rewind and replay the lecture. » Eases the distraction of having to transcribe the lectures. » Self-paced learning: Students can follow along with the lecture at their own pace, going more slowly or quickly » Bookmarking: Students can bookmark the point where they're up to in the video so they can easily return and continue watching the lecture at a later point. » Searchability: Students can easily search through the lecture to find the required sub-topic they need, without having to rewind and fast forward throughout the video. » Greater accuracy: Students will understand the lecture better and can make sure that they have not misheard anything. » Facilitates thinking and problem solving: It improves research skills, collaborative working, problem solving, technology and organisational skills.
The Price Skimming Strategy
 
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Price Skimming is a common pricing strategy used for new products. Employing price skimming involves setting a high initial price, which helps a business recover the costs associated with developing and marketing the product. Although price skimming can be used in a variety of industries, it's commonly seen in consumer electronics, including: smartphones, video game consoles, and tablet computers. Learn more about price skimming, and the conditions that need to exist for this pricing strategy to be effective, in this video. Go Premium for only $9.99 a year and access exclusive ad-free videos from Alanis Business Academy: http://bit.ly/1Iervwb View additional videos from Alanis Business Academy and interact with us on our social media pages: YouTube Channel: http://bit.ly/1kkvZoO Website: http://bit.ly/1ccT2QA Facebook: http://on.fb.me/1cpuBhW Twitter: http://bit.ly/1bY2WFA Google+: http://bit.ly/1kX7s6P
The High-Low Pricing Strategy
 
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The high-low pricing strategy involves setting prices that are higher than everyday low pricing stores, but then offering numerous sales promotions reduce prices lower than competitors' prices. By utilizing this common pricing strategy, marketing personnel are hoping that products sold at deep discounts, often called loss leaders, will increase traffic in stores and increase the sales of other higher profit-margin items. In this video, you'll learn more about how marketers implement high-low pricing as well as some of the disadvantages associated with this pricing strategy. **Learn about price skimming: https://youtu.be/V8NjDBsVWUY **Learn about penetration pricing: https://youtu.be/Fjm6VVbe7bM **Learn about everday low pricing: https://youtu.be/TvqqgrjjDME Go Premium for only $9.99 a year and access exclusive ad-free videos from Alanis Business Academy: http://bit.ly/1Iervwb View additional videos from Alanis Business Academy and interact with us on our social media pages: YouTube Channel: http://bit.ly/1kkvZoO Website: http://bit.ly/1ccT2QA Facebook: http://on.fb.me/1cpuBhW Twitter: http://bit.ly/1bY2WFA Google+: http://bit.ly/1kX7s6P
The Penetration Pricing Strategy
 
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Penetration pricing is a common pricing strategy used by businesses. To employ effective penetration pricing, businesses start by offering a product at a low price point. By doing so, the business is hoping to attract new customers and increase its share of the market. Once the business has increased its market share, it will slowly begin to increase prices to a point where they can offer the product in a profitable manner. To learn more about penetration pricing, as well as the conditions that need to exist for the strategy to be effective, watch the following video. Go Premium for only $9.99 a year and access exclusive ad-free videos from Alanis Business Academy: http://bit.ly/1Iervwb View additional videos from Alanis Business Academy and interact with us on our social media pages: YouTube Channel: http://bit.ly/1kkvZoO Website: http://bit.ly/1ccT2QA Facebook: http://on.fb.me/1cpuBhW Twitter: http://bit.ly/1bY2WFA Google+: http://bit.ly/1kX7s6P
Marketing Mix/4 p's: Pricing Strategies
 
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A short powerpoint presentation on the types of pricing strategies a firm can adopt. Price is just one of the elements of the Marketing Mix.
Views: 76674 learnmarketing
PRICING STRATEGIES   MARKETING MGMT
 
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PRICING STRATEGIES MARKETING MGMT BRIEF OVER VIEW OF PRICING STRATEGIES FOR THE SUBJECT MARKETING. REVISINOARY LECTURE
Views: 1553 Shashi Aggarwal
Marketing Mix: Price
 
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Marketing basics: the term ‘marketing’ actually covers everything from company culture and positioning, through market research, new business/product development, advertising and promotion, PR (public/press relations), and arguably all of the sales and customer service functions as well.
The Best Pricing Strategy - The Apple Way
 
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Please Subscribe here https://goo.gl/6mVLxs to have more videos on business, entrepreneurship, motivation, personal development and success strategy. Setting the right price for a product or a service can be very challenging especially for new entrepreneurs. This is because it can be quite confusing to understand how pricing really works in the market. For example, which of these two products would you buy, the first one is priced at $800 and the second product with the same functions and usage is priced only at $4? Obviously, most of us would choose the $4 product, right? Yes and no. It all depends on 2 important factors which I am going to explain more in this video. If you say yes then why is it that a 256GB iPhone 7 which is priced at $849 is more in demand than a Freedom 251 smartphone which is priced only at $4 a piece? If you say no then why is it that most of us would choose to get a $1 mineral water than the one that is priced at $200 a bottle? So how much should you price your product then? Well, there’s no one right answer to this question because there are so many things that you need to consider such as your overall business goals, how you plan to position your product in the market, your market niche, the costs to produce your products, your product category, and your overall operational costs, just to name a few. Is there a simpler way to do this? Of course, there is, just make sure you know your product category and your positioning strategy. Let me explain. Basically, your product will fall into either one of these two big categories. One is a generic product which can be divided into convenience and shopping products. Convenience products refer to our day to day products such as food, drinks, household products, and so forth whereas shopping products refer to products like clothing, shoes, furniture, and electrical appliances. The second product category is specialty products such as exclusive clothing lines, luxury cars, branded items such as branded bags, watches, shoes, and perfumes. If it is categorised as a generic product just use cost plus profit pricing strategy. Which means, you set your price by adding up the total costs to produce one unit plus the profit you want to make for every product sold. This usually works just fine because almost all generic products are priced this way. But if your product is a specialty product, you need to decide on how you want to position it in the market, more specifically how do you want to position it in the mind of your customers and you can set whatever price you want. The most important thing that you must remember here is this, the moment you enter the market with your product positioning and pricing strategy, it will stay in there forever and, to reposition it later on in the future is almost impossible. For example, Freedom 251 smartphone is positioned as the cheapest and most affordable smartphone in the world and to reposition it just like an iPhone is near to impossible task. Therefore, how should you price your products and services? Decide on your product category and on how do you want to position it in your market. pricing strategies | pricing strategies in marketing | competitive pricing strategy | marketing pricing strategies | pricing methods | business pricing strategies | pricing strategy examples | Follow me on twitter https://twitter.com/moslemanoar Connect with me on linkedin https://my.linkedin.com/in/moslem Follow me on my blog http://moslemanoar.com/ Connect with me on facebook https://www.facebook.com/moslemanoarpage Connect with me on skype moslemanoar
Views: 28115 Success Matters
Retail product mix margin example
 
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Learn how mix margins can be a smart retail pricing strategy.
pricing strategies
 
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Pricing Strategy Definition Example Penetration Pricing Here the organisation sets a low price to increase sales and market share. Once market share has been captured the firm may well then increase their price. A television satellite company sets a low price to get subscribers then increases the price as their customer base increases. Skimming Pricing The organisation sets an initial high price and then slowly lowers the price to make the product available to a wider market. The objective is to skim profits of the market layer by layer. A games console company reduces the price of their console over 5 years, charging a premium at launch and lowest price near the end of its life cycle. Competition Pricing Setting a price in comparison with competitors. Really a firm has three options and these are to price lower, price the same or price higher Some firms offer a price matching service to match what their competitors are offering. Product Line Pricing Pricing different products within the same product range at different price points. An example would be a DVD manufacturer offering different DVD recorders with different features at different prices eg A HD and non HD version.. The greater the features and the benefit obtained the greater the consumer will pay. This form of price discrimination assists the company in maximising turnover and profits. Bundle Pricing The organisation bundles a group of products at a reduced price. Common methods are buy one and get one free promotions or BOGOF's as they are now known. Within the UK some firms are now moving into the realms of buy one get two free can we call this BOGTF i wonder? This strategy is very popular with supermarkets who often offer BOGOF strategies. Psychological Pricing The seller here will consider the psychology of price and the positioning of price within the market place The seller will therefore charge 99p instead £1 or $199 instead of $200. The reason why this methods work, is because buyers will still say they purchased their product under £200 pounds or dollars, even thought it was a pound or dollar away. My favourite pricing strategy. Premium Pricing The price set is high to reflect the exclusiveness of the product. An example of products using this strategy would be Harrods, first class airline services, Porsche etc. Optional Pricing The organisation sells optional extras along with the product to maximise its turnover. T This strategy is used commonly within the car industry as i found out when purchasing my car. Cost Based Pricing The firms takes into account the cost of production and distribution, they then decide on a mark up which they would like for profit to come to their final pricing decision. If a firm operates in a very volatile industry, where costs are changing regularly no set price can be set, therefore the firm will decide on their mark up to confirm their pricing decision. Cost Plus Pricing Here the firm add a percentage to costs as profit margin to come to their final pricing decisions. For example it may cost £100 to produce a widget and the firm add 20% as a profit margin so the selling price would be £120.00 4ps marketing mix brand marketing strategy brand strategies brand strategy branding marketing strategy branding strategies branding strategy business and strategy business level strategy business plan pricing strategy example business strategies business strategy business strategy examples business strategy model business strategy template by product pricing strategy communication strategy communications strategy example marketing strategy example of a marketing strategy example of marketing plan example of marketing strategy example of pricing strategy examples of marketing strategies examples of marketing strategy examples of pricing strategies hotel marketing plan marketing and sales strategies marketing and sales strategy marketing communication strategy marketing communications marketing communications strategy marketing mix marketing plan marketing plan example
Views: 3970 Mr. Advertiser
Marketing Mix: Promotion Strategy part 1
 
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Part 1 of the 3 video series on promotion in the marketing mix presents definitions and cautions. What is NOT promotions and what is? Why shouldn't you use promotions like duct tape? What's in the other videos?
Views: 23567 Soma Datta
Pricing Strategies (Principles of Marketing) | Lecture 9
 
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Pricing Strategies (Principles of Marketing) | Lecture 9. Subscribe this channel to get more knowledge,Lectures,Presentations etc. Youtube: http://www.youtube.com/c/GetKnowledge?sub_confirmation=1 Facebook: https://www.facebook.com/g8knowledge Twitter: https://www.twitter.com/g8knowledge Instragram: https://www.instagram.com/knowledgeget Course Description: This course focuses on the needs of those who are preparing themselves for an exciting, rewarding, and enriching career in the field of marketing. The main aim is to provide students with issues and situations they can identify with while preparing themselves in gaining knowledge and insights in marketing. Much of the course work will be devoted to discussing these concepts with reference to practical examples and cases. A good balance between theory and practice will be maintained in presenting various concepts. Learning Outcomes: After the completion of this course students will be able to: 1. Understand and discuss the fundamental concepts of Marketing 2. Have a sound idea of the factors involved in marketing planning 3. Identify the roles carried out be different market players 4. Posses a theoretical awareness of basic marketing theories and models for decision making. Pricing Strategies: Topic Outcome: New-Product Pricing Strategies Product Mix Pricing Strategies Price Adjustment Strategies Price Changes
Views: 3040 Get Knowledge
The Marketing Mix Pricing Strategies CUTL5106 160115-082129.wmv
 
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This video is about the marketing mix pricing strategies.
Views: 28 Alecia Walters
Product Pricing Strategy
 
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Noah Redler explains the concept of pricing strategy. The price will depend on the type of consumer you are targeting as well as product brand and other factors.
Views: 10670 venturecaptv
Product Marketing Mix - The 4 P's of Marketing
 
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The video speaks about the 4 P's of marketing also known as Product, price, place and promotion or the product Marketing mix. Learn more at http://www.marketing91.com/marketing-mix-4-ps-marketing/
Views: 16363 Marketing 91
Marketing Mix : Pricing Objectives, Methods and Strategies
 
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Pricing Objectives, Methods and Strategies. Marketing mix is vital concept in marketing, 1.understanding Marketing mix for a company is very necessary for survival in the market 2. if a organisation is perfect in its marketing mix strategies, its probability of growth are high.
Views: 455 Junaid Sm
The Marketing Mix - Marketing Promotion
 
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On Udemy: https://www.udemy.com/user/365careers/ On Facebook: https://www.facebook.com/365careers/ On the web: http://www.365careers.com/ On Twitter: https://twitter.com/365careers Subscribe to our channel: https://www.youtube.com/365careers This lesson on Marketing strategy introduces the notion of promoting a product. Watch more at https://www.udemy.com/mba-in-a-box-business-lessons-from-a-ceo . This video is part of a series of short lessons about Business Strategy. The complete module can be found on Udemy, as a core part of the MBA in a Box course by CEO Valentina Bogdanova and 365 Careers. The course provides a complete Business Education: Business Strategy, Management, Marketing, Accounting, Decision Making & Negotiation in just under 10 hours. -------------------------------------------------- Marketing module table of contents: Marketing: An Introduction Introduction to Marketing What is Marketing's role? Who works in Marketing? Marketing's key processes Marketing: Building a Marketing Strategy What is a marketing plan? The psychology of customers - needs, wants, and demands Conducting marketing research The different stages of marketing research Collecting Primary Data for Marketing Research Performing client segmentation Choosing a target customer group Marketing: How to set up an effective Marketing Mix The four Ps of Marketing and their importance Marketing: How to set up an effective Marketing Mix - Product decisions The product concept Classifying a firm's products The typical product lifecycle Product branding Product packaging Marketing: How to set up an effective Marketing Mix - Pricing decisions The variables influencing product pricing The demand curve Performing break-even calculations Marketing: How to set up an effective Marketing Mix - Place decisions Setting up product distribution Types of distribution channels The advent of e-commerce Marketing: How to set up an effective Marketing Mix - Promotion decisions The essence of marketing promotion Creating a marketing campaign The importance of social media Marketing: How to set up an effective Marketing Mix - A dynamic concept The four Ps of Marketing - A dynamic concept Marketing: Marketing strategy in the long run Allocating the funds available for Marketing - The budgeting exercise Using KPIs to improve decision-making Short-term vs. Long-term marketing goals Interpreting and calculating the Customer-Lifetime-Value formula -------------------------------- Promotion is essentially the art of communicating a product’s benefits to customers and convincing them to acquire the product once, or ideally, a repeated number of times. There are three degrees of brand loyalty: Awareness Preference And Insistence Marketing communication revolves around the three. Customers must know a product exists. Once they do, we need to convince them it is better than competitor products so they can develop a preference. In the best-case scenario, customers who prefer the product will understand its features well, which will develop informational awareness, and that will make them able to explain its benefits to other customers. Continued purchasing of a product, brand insistence, is the goal of promotional communication. It occurs when customers link a product with their own lifestyle. The feeling of personal connection turns repeated customers into raving fans.
Views: 8560 365 Careers
The Marketing Mix - Product distribution
 
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On Facebook: https://www.facebook.com/365careers/ On the web: http://www.365careers.com/ On Twitter: https://twitter.com/365careers Subscribe to our channel: https://www.youtube.com/365careers This lesson on Marketing strategy discusses the distribution of a product. Watch more at https://www.udemy.com/mba-in-a-box-business-lessons-from-a-ceo . This video is part of a series of short lessons about Business Strategy. The complete module can be found on Udemy, as a core part of the MBA in a Box course by CEO Valentina Bogdanova and 365 Careers. The course provides a complete Business Education: Business Strategy, Management, Marketing, Accounting, Decision Making & Negotiation in just under 10 hours. -------------------------------------------------- Marketing module table of contents: Marketing: An Introduction Introduction to Marketing What is Marketing's role? Who works in Marketing? Marketing's key processes Marketing: Building a Marketing Strategy What is a marketing plan? The psychology of customers - needs, wants, and demands Conducting marketing research The different stages of marketing research Collecting Primary Data for Marketing Research Performing client segmentation Choosing a target customer group Marketing: How to set up an effective Marketing Mix The four Ps of Marketing and their importance Marketing: How to set up an effective Marketing Mix - Product decisions The product concept Classifying a firm's products The typical product lifecycle Product branding Product packaging Marketing: How to set up an effective Marketing Mix - Pricing decisions The variables influencing product pricing The demand curve Performing break-even calculations Marketing: How to set up an effective Marketing Mix - Place decisions Setting up product distribution Types of distribution channels The advent of e-commerce Marketing: How to set up an effective Marketing Mix - Promotion decisions The essence of marketing promotion Creating a marketing campaign The importance of social media Marketing: How to set up an effective Marketing Mix - A dynamic concept The four Ps of Marketing - A dynamic concept Marketing: Marketing strategy in the long run Allocating the funds available for Marketing - The budgeting exercise Using KPIs to improve decision-making Short-term vs. Long-term marketing goals Interpreting and calculating the Customer-Lifetime-Value formula -------------------------------- Product distribution is probably the most difficult step to set up among the 4 Ps. Well, it takes a lot of time and significant energy to build and optimize a distribution channel. And we have to consider several factors that will influence our decision. The best distribution channel is the one that: Delivers a product that customers want. Delivers a product where customers want it. And allows customers to have the product at the right time. A product must be positioned where its target customers are likely to find it. A great-looking store, with prepared sales personnel, and optimal product placing can have a huge impact on sales. Great distribution channels deliver products at the right time. Nobody likes it when an item is out of stock or when there is a long waiting period for its delivery. Companies want to be efficient with the inventory they keep as it represents a cost. An optimized logistics flow can be beneficial for both customers and producers.
Views: 8648 365 Careers
Introduction to Marketing: The Importance of Product, Price, Place, & Promotion | Episode 118
 
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Go Premium for only $9.99 a year and access exclusive ad-free videos from Alanis Business Academy. Click here for a 14 day free trial: http://bit.ly/1Iervwb View additional videos from Alanis Business Academy and interact with us on our social media pages: YouTube Channel: http://bit.ly/1kkvZoO Website: http://bit.ly/1ccT2QA Facebook: http://on.fb.me/1cpuBhW Twitter: http://bit.ly/1bY2WFA Google+: http://bit.ly/1kX7s6P Marketing is everything involved in creating, communicating, and delivering value to customers, clients, and even society. Marketing is involved in everything from the market research that goes into determining what products consumers are looking for, to the message that is transmitted to consumers to inform them about a product and even persuade them to purchase it. In between those stages, marketing also plays a prominent role in determining how the product should look, designing the packaging that will enclose the product, deciding whether to sell the product through traditional retailers or entirely online, and establishing a price point that is not only attractive to consumers but allows gives the business the opportunity to be profitable. Now when most people think of marketing they often think of advertising, which is completely understandable given we are are constantly exposed to advertisements at home, at the office, and even during our commutes. Although advertising is a component of marketing it certainly does not explain the entire subject. In fact, advertising is simply one of the four different types of promotion, and promotion is one of the four main elements of marketing. So you can see that advertising, like the other marketing elements, merely plays a role in helping businesses create, communicate, and deliver a single unified message to potential customers. So how does a businesses create, communicate, and deliver value to its customers? Although there are many variables at work, a business can increase the probability of success by creating an effective and consistent marketing mix. Often referred to as the 4 P's, the market mix is a collection of four elements that outline the strategy for how a business intends to reach its customers. These four elements include product, place, promotion, and price. The product includes the tangible product or intangible service that will be used to fulfill a customer need or want. The features of a product, its physical form, packaging, warranties, and even after-sale service are all included under the product strategy. Place includes how a business intends to get products from the location they are produced to where they can ultimately be consumed by consumers. Place is often referred to as distribution since we are dealing with logistics. However, place not only includes the physical distribution of the product but also the channel through which it will be sold. Promotion involves establishing the most effective method for communicating with its customers about the various products that it sells. Promotion is primarily meant to communicate, inform, and persuade. An effective promotion strategy, like the other marketing mix elements, depends upon a businesses knowledge of its target customer. This knowledge allows a business to select the best way to communicate with its core audience and ultimately increase the success of its communications. The last element of the market mix is price. Price is the easiest marketing mix element to alter from a technical sense, however it is the most difficult thing to change. The reason is that altering the price of a product affects what consumers pay for that product, and a business can only charge as much as the market is willing to pay for a product. Technically a business can charge whatever price it wants, but that does not mean that consumers have to pay that price. Like the other marketing mix elements, price can send a message to consumers. For example, many believe that maintaining low prices is the best method to attract consumers. Although this can be an effective pricing strategy for certain items, it can also confuse consumers. For example, Tiffany & Co. sells expensive jewelry and is known for high quality and is one of the most recognizable brands. Because Tiffany & Co is known for quality and maybe even exclusivity, it wouldn't benefit from a low price point. Dealing with the psychological aspect of pricing, consumers tend to view less expensive items as cheap in quality compared to their more expensive counterparts. Although this doesn't always hold to be true, businesses are very aware of the impact that price can have on the perceptions of consumers.
The Marketing Series 6: The Marketing Mix: Price
 
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http://www.tvchoice.uk.com - 35 mins, 2013 Key Topics Pricing Strategies Price & Income Elasticity Of Demand Penetration Pricing Promotional & Premium Pricing Skimming Price Discrimination 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? TV CHOICE has a range of over 200 educational films and film clips for Business Studies, Geography, History, Leisure and Tourism and many other subjects. USA FORMATS AVAILABLE. http://www.tvchoice.uk.com
Views: 2116 TVChoiceFilms
The Marketing Mix - The 4 P's of Marketing
 
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On Facebook: https://www.facebook.com/365careers/ On the web: http://www.365careers.com/ On Twitter: https://twitter.com/365careers Subscribe to our channel: https://www.youtube.com/365careers This lesson on Marketing strategy introduces the concept of the Marketing Mix, and the 4 P's of marketing. Watch more at https://www.udemy.com/mba-in-a-box-business-lessons-from-a-ceo . This video is part of a series of short lessons about Business Strategy. The complete module can be found on Udemy, as a core part of the MBA in a Box course by CEO Valentina Bogdanova and 365 Careers. The course provides a complete Business Education: Business Strategy, Management, Marketing, Accounting, Decision Making & Negotiation in just under 10 hours. -------------------------------------------------- Marketing module table of contents: Marketing: An Introduction Introduction to Marketing What is Marketing's role? Who works in Marketing? Marketing's key processes Marketing: Building a Marketing Strategy What is a marketing plan? The psychology of customers - needs, wants, and demands Conducting marketing research The different stages of marketing research Collecting Primary Data for Marketing Research Performing client segmentation Choosing a target customer group Marketing: How to set up an effective Marketing Mix The four Ps of Marketing and their importance Marketing: How to set up an effective Marketing Mix - Product decisions The product concept Classifying a firm's products The typical product lifecycle Product branding Product packaging Marketing: How to set up an effective Marketing Mix - Pricing decisions The variables influencing product pricing The demand curve Performing break-even calculations Marketing: How to set up an effective Marketing Mix - Place decisions Setting up product distribution Types of distribution channels The advent of e-commerce Marketing: How to set up an effective Marketing Mix - Promotion decisions The essence of marketing promotion Creating a marketing campaign The importance of social media Marketing: How to set up an effective Marketing Mix - A dynamic concept The four Ps of Marketing - A dynamic concept Marketing: Marketing strategy in the long run Allocating the funds available for Marketing - The budgeting exercise Using KPIs to improve decision-making Short-term vs. Long-term marketing goals Interpreting and calculating the Customer-Lifetime-Value formula -------------------------------- The professional way to launch a product is to prepare a marketing mix strategy in line with the product or service we want to offer to customers. By default, the decisions we make regarding marketing mix will be as good as our understanding of the target market. If we’ve done quality research, the likelihood of coming up with a good marketing mix combination increases. Four major variables shape a company’s marketing mix. These variables are known as the Four Ps of Marketing. Focusing on: • Product • Price • Place • And Promotion This has proven to be an effective way to understand the decisions a company makes when it enters a market and competes in it. If a company understands the needs of its customers, it can create products that satisfy the clients’ expectations and contain the features they desire; it will offer these products at a price that corresponds to the target market’s willingness to spend, and it will offer them where the target market loves to shop. It will also build its brand communication in a language that speaks to the target market. Marketing Mix and the Four Ps is intuitive. Marketing managers should concentrate on these variables and tailor them regarding the target market they’ve chosen to pursue.
Views: 34087 365 Careers
IGCSE Business Studies _Chapter 12 "Marketing mix "Product" "
 
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The first P in the marketing mix is explained in this video .It illustrates the stages of developing a product and the importance of branding and brand loyalty .It also explains the different stages and features of Product life cycle and extension strategies.
Views: 3021 Mazen Nasr

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