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MARKETING MIX






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Marketing Myopia

This is a term which has been introduced by Thodore Levitt, through an article titled 'Marketing Myopia'.

Click to read - Marketing Myopia

Legal Restriction on Pricing

There are various legislations that exist in India, mainly to protect the consumer's interest. As mentioned earlier, these days, Government interference to a large extent has become a major influencing factor in the framing of the pricing policies of a firm.

Click to read - Legal Restriction on Pricing

Allowances

These are also same as discount but are usually given as a consideration for performing specific services.

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Discounts

Discounts are deductions allowed by the seller from the basic price of a product. These discounts could be of following types

Click to read - Discounts

Special Problems in Pricing

After fixing a price a manufacturer often is beset with the problems of price reduction. It if needless to say even before fixing a price, that this should be considered.

Click to read - Special Problems in Pricing

Pricing of New Products

Pricing a new product is an art. It is one of the most important and puzzling marketing problems. One of the reasons for the failure of product in the market is due to incorrect pricing.

Click to read - Pricing of New Products

Negotiated Pricing

This method is invariably adopted by Industrial suppliers. Manufactures who require goods of highly specialized and individually designed nature often negotiate and then only fix the price.

Click to read - Negotiated Pricing

Sealed Bid Pricing

This method is followed in the case of specific construction of job works. Usually Government contracts are awarded through a system known as Tenders.

Click to read - Sealed Bid Pricing

Expected Pricing

Under this method, the price that will be accepted by the consumers is found out.

Click to read - Expected Pricing

Penetration Pricing

This method is opposite to the skimming method outlined above. It is a fact that skimming price policy is most convenient and profitable in the case of new products, especially in the initial years.

Click to read - Penetration Pricing

Skimming Pricing

This is also termed as “Skim-the-cream Pricing”. It involves setting a very high price for a new product initially and to reduce the price gradually as competitors enter the market.

Click to read - Skimming Pricing

Monopoly Pricing

New product pricing, in essence, monopoly pricing. Since competition is absent, the seller has a free hand in fixing the price.

Click to read - Monopoly Pricing

Administered Pricing

This applies to the practice of pricing the product for the market, not on the basis of cost, competitive pressures, or the laws of supply and demand, but purely on the basis of policy decisions of the sellers.

Click to read - Administered Pricing

Dual Pricing

When a manufacturer sells the same product at two or more different price it is dual pricing.

Click to read - Dual Pricing

Geographic Pricing

The policy is sometimes used where a manufacturer serves a number of district regional markets.

Click to read - Geographic Pricing

Price Lining

This policy of pricing is usually found among retailers.

Click to read - Price Lining

Prestige Pricing

This is applicable in case of luxury goods, where the seller is successful in creating a prestige to his product.

Click to read - Prestige Pricing

Pricing at the prevailing prices

The kind of pricing is undertaken to meet the competition. Such a strategy presumes a marked inelasticity of demand below the current market price.

Click to read - Pricing at the prevailing prices

Customary prices

Such prices are fixed by custom.

Click to read - Customary prices

Psychological Pricing

The price under this method is fixed at a full number.

Click to read - Psychological Pricing

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