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    3C Pricing PLC PRM Sttgy March2022

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    DHRUVI AGARWAL
    The document discusses pricing, place, and promotion strategies. It covers topics like understanding pricing psychology in a digital world, different types of pricing like everyday low pricing and promotional pricing, the importance of location and channels. It also discusses integrated marketing communication and how the various marketing mix elements like product, price, place and promotion work together through different platforms. The key learning objectives are to understand pricing psychology, different pricing strategies, initiating and responding to price changes, omnichannel challenges, and changes in the promotion mix.

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    3C Pricing PLC PRM Sttgy March2022

    Uploaded by

    DHRUVI AGARWAL
    16 views12 pages
    The document discusses pricing, place, and promotion strategies. It covers topics like understanding pricing psychology in a digital world, different types of pricing like everyday low pricing and promotional pricing, the importance of location and channels. It also discusses integrated marketing communication and how the various marketing mix elements like product, price, place and promotion work together through different platforms. The key learning objectives are to understand pricing psychology, different pricing strategies, initiating and responding to price changes, omnichannel challenges, and changes in the promotion mix.

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    3C Pricing Plc Prm Sttgy March2022

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    The document discusses pricing, place, and promotion strategies. It covers topics like understanding pricing psychology in a digital world, different types of pricing like everyday low pricing and promotional pricing, the importance of location and channels. It also discusses integrated marketing communication and how the various marketing mix elements like product, price, place and promotion work together through different platforms. The key learning objectives are to understand pricing psychology, different pricing strategies, initiating and responding to price changes, omnichannel challenges, and changes in the promotion mix.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    16 views12 pages

    3C Pricing PLC PRM Sttgy March2022

    Uploaded by

    DHRUVI AGARWAL
    The document discusses pricing, place, and promotion strategies. It covers topics like understanding pricing psychology in a digital world, different types of pricing like everyday low pricing and promotional pricing, the importance of location and channels. It also discusses integrated marketing communication and how the various marketing mix elements like product, price, place and promotion work together through different platforms. The key learning objectives are to understand pricing psychology, different pricing strategies, initiating and responding to price changes, omnichannel challenges, and changes in the promotion mix.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    of 12

    Successful marketers do not leave the pricing decision to the cost accountants.

    And therein lies their success secret.


    - Ambi Parameswaran, Does Price depends on Cost? Livemint 12th July 2016

    The deep-discount model followed by e-tailers is unsustainable:


    Kumar Mangalam Birla, ET, 13th July 2015

    Pricing, Place & Prm Strategy


    SUAS-MBASem2-Batch21-23-SMM
    Strategic Marketing Management
    Unit-III
    March 2022

    Text Reference:
    Chapter 16, Developing Pricing Strategies & Programs, MM 15th Ed. by Kotler-Keller, Pearson
    Learning Objectives

    1. Understanding Pricing and Pricing Psychology


    2. EDLP, Promotional and Differentiated Pricing, Discounts and allowances
    3. Initiating & Responding to Price changes
    4. Place: Omnichannel Challenges
    5. Promotion: IMC Mix & Changes
    Understanding Pricing

    • Pricing in a Digital World


    Buyers: Format Example

    ✓Get instant vendor price comparisons Sampling Free


    & Survey Platforms
    ✓ Check prices at the point of purchase
    Limited Books,
    ✓ Name your price and have it met
    Preview Movies
    ✓ Get products free
    Freeware Whatsapp,
    Sellers: Adobe
    ✓ Monitor customer behavior & tailor offers FreeMium Spotify
    Linked In
    ✓ Give customers access to special prices
    Free to Youtube
    ✓ Negotiate prices online or even in person Fee
    Understanding Pricing

    • A Changing Pricing Environment

    • Millenials & GenZ


    • ‘Access to Assets’
    not Ownership
    • Buy & Sell too!
    • Believe in
    • Shared Economy
    • Bartering
    • Renting
    Understanding Pricing

    • How companies price


    • Small companies: boss
    • Large companies: division/product line managers
    • How companies should price
    • Understanding of consumer psychology (on prices)
    • Price Makers NOT Price Takers
    • A systematic approach to setting, adapting and changing prices
    • Following a Methodology for Pricing
    • Cost Plus & Mark-Up, Target Return, Value, Perceived Value, Going Rate
    • Value Pricing- EDLP (Deep Discounts)- Walmart, IKEA, Target, SouthWest
    Promotional Pricing

    • Loss-leader pricing • Low-interest financing


    • Special event pricing • Longer payment terms
    • Special customer pricing • Warranties/service contracts
    • Cash rebates • Psychological discounting
    Dis. Meaning
    Differentiated Pricing Deg.
    1 Demand Intensity
    2 Volume Levels

    • Price discrimination & Differentiated Pricing 3 Consumer Groups


    4 Individuals
    Customer- Product-form
    segment pricing
    pricing Bisleri

    Time pricing Image pricing

    Channel
    Location pricing
    pricing
    Distribution Management: Basics

    • Multichannel Marketing
    • Using two or more marketing channels to reach
    customer segments in one market area
    • Omnichannel Marketing
    • Multiple channels work seamlessly together to
    serve customers online, in-store or a hybrid
    arrangement
    • Advantages:
    • Increased Market Coverage
    • Lower Channel Cost
    • More Customized Selling
    • Integrated Marketing Channel System

    Patanjali Ayurvedic Stores, MomNPop Stores, Organised Retailers, Etailers, Website, OrderMe App
    Example of a Hybrid Marketing Channel
    Multi-Channel: The Hybrid Grid
    Marketing Mix
    Price

    • Product
    • Price Offer Mix Customer
    Value
    • Place Triad
    Quality Service

    • Promotion Promotion Mix


    Advertising
    Sales Promotion
    Events & Experiences
    PR & Publicity
    Online and Social Media Marketing
    Mobile Marketing
    Direct Marketing- DBMS
    Personal Selling
    Common IMC Platforms

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