PM Sales and profits over the products life

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Presentation transcript:

PM 14.3 Sales and profits over the products life from inception to demise

SHAPES OF PRODUCT LIFE CYCLE Maturity Cycle Recycle Scalloped Style Fashion Fad

Heterogeneity Simultaneous Production/Consumption

CUSTOMER VALUE BASED APPROACH COST-BASED APPROACH Cost-plus pricing Break-even analysis Target profit pricing CUSTOMER VALUE BASED APPROACH Ultimate Luxury Middle Convenience Me Too COMPETITION-BASED APPROACH Discremination Pricing Mix Pricing PM 16.3 General approaches to pricing

MARKET SKIMMING PRICING SETTING A HIGH PRICE FOR NEW PRODUCTS TO MAXIMISE REVENUE FROM TARGET MARKET SECTOR MARKET PENETRATION PRICING SETTING A LOW PRICE FOR A NEW PRODUCT TO ATTRACT A LARGE NUMBER OF BUYERS AND GAIN A DOMINANT MARKET SHARE PM 17.1 New product pricing strategies

PRICE ADJUSTMENT STRATEGIES Discount and price allowance Discriminatory pricing Psychological pricing Value pricing PRICE ADJUSTMENT STRATEGIES Promotional pricing Geographical pricing International pricing PM 17.3 Price adjustment strategies

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