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PM 14.3 Sales and profits over the products life
from inception to demise
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SHAPES OF PRODUCT LIFE CYCLE
Maturity Cycle Recycle Scalloped Style Fashion Fad
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Heterogeneity Simultaneous Production/Consumption
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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 General approaches to pricing
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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 New product pricing strategies
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PRICE ADJUSTMENT STRATEGIES
Discount and price allowance Discriminatory pricing Psychological pricing Value pricing PRICE ADJUSTMENT STRATEGIES Promotional pricing Geographical pricing International pricing PM Price adjustment strategies
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