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© Prentice Hall, 200 5 Excellence in Business, Revised Edition Chapter 13 - 1 Product and Pricing Product and Pricing Strategies Strategies
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© Prentice Hall, 2005 Excellence in Business, Revised Edition
Chapter 13 - 1
Product and Pricing Product and Pricing StrategiesStrategies
© Prentice Hall, 2005 Excellence in Business, Revised Edition
Chapter 13 - 2
Product CharacteristicsProduct Characteristics
• Fundamentals• Decisions• Pricing
© Prentice Hall, 2005 Excellence in Business, Revised Edition
Chapter 13 - 3
The Product ContinuumThe Product Continuum
• Tangible –Goods–Products
• Intangible–Services– Ideas
© Prentice Hall, 2005 Excellence in Business, Revised Edition
Chapter 13 - 4
Characteristics of Characteristics of Service ProductsService Products
• Intangible quality• Perishable nature
© Prentice Hall, 2005 Excellence in Business, Revised Edition
Chapter 13 - 5
Consumer ProductsConsumer Products
• Convenience products• Shopping products• Specialty products• Unsought goods
© Prentice Hall, 2005 Excellence in Business, Revised Edition
Chapter 13 - 6
Industrial ProductsIndustrial Products• Expense items– Short term• Pencils • Printer cartridges
• Capital items– Long term• Copy machines• Computers
© Prentice Hall, 2005 Excellence in Business, Revised Edition
Chapter 13 - 7
Products and Their UsesProducts and Their Uses
• Raw materials• Components• Supplies• Installations• Services• Business equipment
© Prentice Hall, 2005 Excellence in Business, Revised Edition
Chapter 13 - 8
The Product Life CycleThe Product Life Cycle
• Introduction• Growth• Maturity• Decline
© Prentice Hall, 2005 Excellence in Business, Revised Edition
Chapter 13 - 9
New Product New Product DevelopmentDevelopment
1. Idea generation2. Idea screening3. Business analysis4. Prototype development5. Test marketing6. Commercialization
© Prentice Hall, 2005 Excellence in Business, Revised Edition
Chapter 13 - 10
Idea GenerationIdea Generation
• Customers• Competitors• Employees
© Prentice Hall, 2005 Excellence in Business, Revised Edition
Chapter 13 - 11
Idea ScreeningIdea Screening
• Industrial products–Feasibility study
• Consumer products–Concept testing
© Prentice Hall, 2005 Excellence in Business, Revised Edition
Chapter 13 - 12
Business AnalysisBusiness Analysis
• Forecast sales• Estimate costs• Project profits
© Prentice Hall, 2005 Excellence in Business, Revised Edition
Chapter 13 - 13
Prototype DevelopmentPrototype Development
• Packaging• Marketing mix• Production• Resources
© Prentice Hall, 2005 Excellence in Business, Revised Edition
Chapter 13 - 14
Test MarketingTest Marketing
• Introduce the product• Monitor customer reactions
© Prentice Hall, 2005 Excellence in Business, Revised Edition
Chapter 13 - 15
CommercializationCommercialization
• Production • Distribution
© Prentice Hall, 2005 Excellence in Business, Revised Edition
Chapter 13 - 16
Product IdentitiesProduct Identities
• Branding• Packaging• Labeling
© Prentice Hall, 2005 Excellence in Business, Revised Edition
Chapter 13 - 17
Branding ProductsBranding Products• Brand names• Brand marks• Trade marks• National brands• Private brands• Co-branding• Generic products
© Prentice Hall, 2005 Excellence in Business, Revised Edition
Chapter 13 - 18
Product Line SelectionProduct Line Selection
Product Product ExpansionExpansion
Line filling Line extension Brand extension Line stretching
Product Product MixMix
Width Length Depth Risks and rewards
© Prentice Hall, 2005 Excellence in Business, Revised Edition
Chapter 13 - 19
Product PositioningProduct Positioning
• Features• Services• Image• Price• Category
© Prentice Hall, 2005 Excellence in Business, Revised Edition
Chapter 13 - 20
Product Positioning Product Positioning ErrorsErrors
• Under positioning• Over positioning• Confused positioning
© Prentice Hall, 2005 Excellence in Business, Revised Edition
Chapter 13 - 21
International StrategiesInternational Strategies
• Standardization• Customization
© Prentice Hall, 2005 Excellence in Business, Revised Edition
Chapter 13 - 22
Developing Pricing Developing Pricing StrategiesStrategies
• Marketing objectives• Government regulations• Consumer perceptions• Consumer demand
© Prentice Hall, 2005 Excellence in Business, Revised Edition
Chapter 13 - 23
Cost-Based PricingCost-Based Pricing
Fixed costsSelling price per unit-Variable costs per unit
Break-EvenPoint =
© Prentice Hall, 2005 Excellence in Business, Revised Edition
Chapter 13 - 24
Other Pricing StrategiesOther Pricing Strategies
• Price-based• Optimization• Skimming• Penetration
© Prentice Hall, 2005 Excellence in Business, Revised Edition
Chapter 13 - 25
Price Adjustment Price Adjustment StrategiesStrategies
• Discount pricing• Bundling• Dynamic pricing
