Webexv Pp Q, What is Pricing? > Pricing is the method of Panera z) producer will get in the exchange of gooas. Slay ler » The primary objective is to earn profits, and the same can be realized through the ‘Pricing methods’ Q We VCF (host) g20:00 Od co Webexv Pp Q, Mati Sadia) Seal eagle elie cele Ua » Nature of the product/service » The price of similar product » Target audience > The cost of production Laas Reco) es Q We VCF (host) g20:01 OO Re en Ld Webex v PaO! Factors Influencing Pricing La dnole lames lelatsiir tle > Product cost » Objectives of the firm » Competitive situation > Demand for the product » Customers’ behaviour » Government Regulations Q We VCF (host) 9Webexv Pp Q, We VCF (host) Ee QWebexv Pp Q, Base Methods of Pricing » 1) Cost-based pricing >a. Mark-up pricing Lae icon iT4 Acme se ieuacbdnelrlitelen daelal 4 »d. Break-even pricing pe. Target-Return pricing Q We VCF (host) gWebex v ae: Base Methods of Pricing 2) Competition based pricing EPA Vara nen nan-l oie oles b, Retail location and prices of similar products c. Evaluate your product image v/s competition d. Set prices based on perception — premium, speciality, store format used Q We VCF (host) ; QWebex v ae: Base Methods of Pricing During the price planning process, your main focus should lie in finding the right price point where you can maximize your sales and profits O We VF (host) g20:16 4eO Ro en eva Webexv Pp Q, Pricing Strategies » It is targeted at the defined customers and against competitors ae Ne eect »1) Premium pricing - price higher than your competitors, to achieve a premium positioning, unique features or core advantages, unique competitive advantage Q We VCF (host) gPVA Oe) Ro en eva Webexv Pp Q, Pricing Strategies Coty Tiley ele besr lay 2) Penetration pricing - designed to capture market share, entry level, market capturing, compel switching, get more customers 3) Economy pricing - takes a very low-cost approach, for price sensitive target, no frills with thin margin, to increase shareWebexv Pp Q, Pricing Strategies eye N Tish es ets 4) Skimming pricing— you have significant competitive advantage, gain maximum revenue advantage before other competitors come in, innovative product, host) ; Q ES O We vcr (2019 4S he Webexv Pp Q, Pricing Strategies > Product line pricing pate ee uitents » Psychological pricing » Geographical pricing > Neutral pricing » Value pricing Q We VCF (host) Q20:23 4meO Re en ik Webex v ae: Pricing Strategies » Institutional pricing » Government pricing Tendering — open tender, limited party icialel-ig Tender submission quote No regret price Match the offer Q We VCF (host) g20:23 4HeO Rn Pe ibs Webexv Pp Q, PRICE ELASTICITY OF DEMAND QO We VCF (host) >Pere Binh ee) Re en Webex v ae: t is Price Elasticity? » It’s a measure to show the responsiveness, or PESteNMOa enema Ca ntltl » It gives the percentage change in quantity demanded in response to a one percent change in price Pa ilen rs iei a Manee ieee -eellee lalalime g Eile Q We VCF (host) g20:25 4meO Re en Webex ¥ 2 t is Price Elasticity? » When any change in price have no impact on its volume demanded, it is said to be set at 1 » PED <1= demand is inelastic (relatively inelastic) a) aD) demand is elastic (relatively elastic) et “} tt \ QO We VCF (host) Q20:26 4HeO Ow 44 80% Webexv Pp Q, n/N Esl [Cio tN| PRICING Q We VCF (host) g20:27 4MeO QR 44 80% Webex v ae: ear) I(Sa) xu a areal » Price alignment with product's life cycle stage Baer oaarl » Erosion in product value ost-skimming strategy » Pricing during maturity » Pricing during decline stage Q We VCF (host) gRe en Webexv ¥ 2 Thank You Q We VCF (host) i Q2031 OAaMee Ce ae ik Webexv Pp Q, Chapter 9 Marketing Communication Q We VCF (host) g2052 OMFO Webexv Pp Q, 8B py Pur f PROMOTION rea CE) aig YY ies) G ‘See DM QO We VF (host) z QPAE One] QW 44 75% Webex v ae: Chapter 9 Marketing Communication WV Q We VCF (host) gPAE One] QW 44 75% Webex v ae: 6\°0 INTRODUCTION WY Q We VCF (host) g21:00 OO4 QW 44 75% Webexv Pp Q, What is Marketing Communication? Eocene Tole] tet coe ga). about the products and the brands they sell, either directly or indirectly to the customers with the intention to persuade them to purchase WY Q We VCF (host) g21.01 ©O4 OO 44 75% Webex ¥ 2 What is Marketing Communication? Geeta co ent Mater IC [ete Coon a lene about the products and the brands they sell, either directly or indirectly to the custom: iS intention to persuade them to purchase WV Q We VCF (host) 9Re en Webex ¥ 2 2102 OO4 Offer Solutions to the Following Questions Marketing Communications can evoke emotions and are able to put consumers in a more receptive frame of mind. It encourages purchases to solve problems on one hand and avoid negative outcomes on the other hand WV Q We VCF (host)21:02 Od Ria Webexv Pp Q, 6\°e 8 WV Q We VCF (host) g2103 OMOd Ce ae ee Webex v ae: Marketing Communication ProcessOR Pn Lo Webex ¥ 2 21:07 Marketing Communication Process Tips for effective marketing communications - Py - Design - Feedback WV Q We VCF (host)Webexv Pp Q, SALIENT ASPECTS OF MARKETING COMMUNICATION WV Q We VCF (host) gWebexv Pp Q, Salient Aspects of MarCom Designed for target segment Designed to influence Designed to reaffirm VISIR Vee mle iim Engagement is critical Pde E a m O We VCF (host) gWebexv Pp Q, Importance of MarCom O) We VCF (host) Q21:20 O@ Re en ees Webex ¥ 2 Importance of MarCom21:20 O@ Re en ees Webex ¥ 2 GCE MMi Nel NA eleeelan selabiny ef meds Trade strategy Pshor nl21:22 O@ Re en ees Webexv Pp Q, Stage in sre Life ¢ Le Type of product Type of purchase den / Target market aoc Consumer'sreadiness to purchase Soles Promotions Personal selling “| Various Media Under Each Consumers’ preferences far media Regulations Competition Availability of medio Trade strategy-Push or pullPara ee Re en ees Webexv Pp Q, Role of Marketing Communication Product information:Webexv Pp Q, Marketing Communication Objectives a) To communicate b) To compete c) To convincePak ee Re en ees Webexv Pp Q, a @) Print media Broadcast media Online media Digital media Daily newspapers [Radio-AM Website-Company —_|Sodal media Financial newspapers |Radio-FM. Website-Business [FaceBook Magazines Tv-Terrestal Blogs Instagram Directories Wv-settelite Rss Twitter &Others | (Catalogues (Cable TV. ‘Search engines YouTube [Directories-lust Dial_|Professional medi Linkedin independent media [Own APP [Aggregator APP (OthersWebexv Pp Q, Evaluating Advertising Media Ua le|[ pleted (o--Mieae ele a nen mele 41a] eel (-Ipley | = Impact — does message has a chance of getting ealeolt lala M = Message — does it ensure the message is clearly communicated?Webexv Pp Q, Evaluating Advertising Media R = Response — does it make responding easy? |= Internal management— does it enhance the efficient management of the campaign? TE = The End response — costs and projected likely icone)Webexv Pp Q, MarCom Mix marketing Communication mix refers to the different tools that a firm can adopt to inform, pershade, and remind the customer about the product and services-it sellsWebexv Pp Q, What is Advertising Campaign? A campaign is defined as a uni-focus, short-term marketing communication program, making use Ce) A V-TatelO Mara oC -beeRe Lin 26) target audience Effective campaign must answer 5Ws’ and 1H - Who? What? Where? Why? When? How?Webexv Pp Q, Planning an Advertising Campaign Identify and analyze target audience Create advertising problem Define advertising objectives Executing the campaign SVEN eleile Mame sticcre eonWebexv Pp Q, Determine Advertising Budget Objective and tasks method Percentage of sale - % to the future predicted sale, match with ind. Average, decide budget Competition matching - share of voice (SOV) Level helps you to remain present in your target audience consideration set. SOV is a brand’s share of paid advertising in a marketplaceWebexv Pp Q, Develop Media Plan Know your target audience — Reach, demographics data Define your media goals — expected action, nel tee to sale Develop media strategy — reach, frequency and % of media spent in the total spendWebexv Pp Q, Develop Media Plan eens cd Cet) PTT Se Tg 4000000 itl OTT 1200000 ED ae) 600000 Social media 150000 Ceci) 100000, Coc) 6050000Webexv Pp Q, Develop Media Plan ok iad Saou) Peete 4000000 Lr NEP Ce] Social media 150000 Ceci) Coc) 6050000Webexv Pp Q, Advertising Message Structure The Appeal - the underlying idea that captures the attention of a message receiver. Can be emotional, fearful, humorous, and sexual Value Proposition - a reason for customers to be interested in the product Slogan — position’s the product in a customer's mind and distinguish from competitors’Webexv Pp Q, Advertising Message Structure The Appeal - the underlying idea that captures the attention of a message receiver. Can be emotional, fearful, humorous, and sexual Value Proposition - a reason for customers to be the product Slogan — position’s the productin a customer’s mind and distinguish from competitors’Webexv Pp Q, DIGITAL MARKETING21:29 O@ (Re en ab Webex ¥ 2 NV bY BY fedieel NV relancesal ayaa Digital marketing tools Following are few digital marketing tools (List may not be exhaustive) ‘Search Engine Optimization (SEO)| Native Advertising Content Marketing Marketing Automation Social Media Marketing | Email Marketing Pay Per Click (PPC) Online PR Affiliate Marketing Inbound Marketing21:29 O@ (Re en ab Webex ¥ 2 NV bY BY fedieel NV relancesal ayaa Digital marketing tools Following are few digital marketing tools (List may not be exhaystive) Search Engine Optimization (80) | Native Advertising. 7 Content Marketing y/ Marketing Automati Sovil Media Marketing” 7/| Email Marketing Pay Per Click (PPC) Online PR_ Affiliate Marketing Tnbound Marketing21:29 O@ (Ree eal Webexv Pp Q, WV area mY LienWebexv Pp Q, Utilization of Medium Under IMCWebexv Pp Q,Webexv Pp Q,Webexv Pp Q, Challenges in MarCom Unification of problem definition SJolgtia) Meo lilanlelan=er-] is Setting weightage for MarCom mix elements Unifying multiple consumer touchpoints Merging technologyWebexv Pp Q, Challenges in MarCom Unification of problem definition SJolgia) -meouilanle lancer) is BSSel adi g acelieaI for MarCom mix elements Unifying multiple consumer touchpoints Merging technologyWebexv Pp Q, Thank You