session 17

session 17 - Administration & Review Case analysis...

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1 Case analysis Think more about STP Try to make recommendations related to your overall STP Marketing game I will return game results in a different way for future runs Upload all report files on blackboard, open it with your password Handout a hard copy to each group Problems with marketing game Negative profits: too high channel intensity and others Windows vista: save the plan file under a folder other than the default one. Please respect the deadline of the marketing game Overdue will cause you to lose 2 points, and if you can not make it up promptly, you may lose all points on the marketing game.
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2 Product Summary Product has a broad definition Product life cycle: Four stages Different marketing strategies in different stages New product development: Five stages to develop a new product Five groups of adopters How can marketers cross chasm? Branding Brand equity Product and brand strategy
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3 Marketing Management Qiang Liu Pricing “The only sound way to price is to start out with what the market is willing to pay.” - Peter F. Drucker
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4 Agenda General Pricing Strategy – 3C in pricing New Product Pricing Consumer Psychology and Pricing Perceptions of price differences Reference prices
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General Pricing Strategy – 3C in pricing Cost (or Company) Markup (cost-plus) pricing Cost advantage – based on economies of scale or based on technology Competition Benchmark pricing – based on the relative position in the market Price cut reaction Customers Economic value to the customer (EVC) 5
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Markup pricing Markup pricing or cost-plus pricing The most elementary form of pricing Example : variable cost per unit is $10, fixed cost $300,000, and expected unit sales is 50,000, desired markup is 20% sales] unit [ cost] [fixed cost] [variable cost] [unit + = [markup price] [unit cost] *(1+markup) = 300,000 [unit cost] 10 16 50,000 = += [markup price] 16*(1+0.2) 19.2 = = 6
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Benchmark pricing and competitors’ reaction to price change [brand A price]-[benchmark price] [price premium] [benchmark price] = Benchmark pricing Follow the average market price
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session 17 - Administration & Review Case analysis...

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