final short answer - Chapter 11 There are three major pricing strategies 1 Customer Value-Based Pricing 2 Cost-Based Pricing 3 Competition-Based Pricing

final short answer - Chapter 11 There are three major...

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Chapter 11There are three major pricing strategies:1.Customer Value-Based Pricing2.Cost-Based Pricing3.Competition-Based PricingPricing in Different Types of Markets1.Pure Competition: the market consists of many buyers and sellers trading in a uniform commodity such as wheat, copper, financial securities. No single buyer or seller has much effect on the going market price. Sellers in these markets do not spend much time on marketing strategy.2.Monopolistic competition: the market consists of many buyers and sellers who trade over a range of prices rather than a single market price. A range of prices occurs because sellers can differentiate their offers to buyers. 3.Oligopolistic competition: the market consists of a few sellers who are highly sensitive to each other’s pricing and marketing strategies. Because there are few sellers, each seller is alert and responsive to competitors’ pricing strategies and moves. 4.Pure Monopoly: the market consists of one seller. The seller may be a government monopoly (Canada Post), a private regulated monopoly (power company), or a private non-regulated monopoly (DuPont when it introduced nylon). Pricing is handled differently in each case.
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  • Spring '15
  • Marketing, sales force, Customer Value-Based Pricing, major pricing strategies, single market price

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