Marketing price strategy

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Edited at 2021-10-22 22:47:46

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Marketing price strategy

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Outline

Marketing price strategy

Definition and meaning

Marketing price strategy is a series of price decisions and strategies formulated by enterprises to achieve sales targets.

Marketing price strategy refers to a strategy for enterprises to achieve marketing goals and maximize profits by setting reasonable prices under market economy conditions and regulating market demand and supply.

The main significance of marketing price strategy is: to help enterprises formulate competitive product prices and enhance market competitiveness; to meet the needs of different consumer groups and achieve market segmentation and differentiation; to adjust market supply and demand relationships and control market share; to enhance Corporate brand image and loyalty, etc.

pricing factors

Market demand

Market demand refers to the purchase intention and possible actual purchase quantity of a good or service at certain prices within a certain period of time.

Changes in market demand are very important for price setting because changes in demand affect price elasticity and market competition.

For products with high demand elasticity, price increases will lead to a significant drop in demand, and companies should consider cutting prices appropriately to increase market share; for products with low demand elasticity, price increases will have little change in market demand, and companies can relatively increase prices to obtain more products. High profits.

cost

Cost refers to the resources and expenses required by a company to produce a certain quantity of products.

Enterprises need to reasonably calculate various costs, including raw material costs, labor costs, manufacturing costs, transportation costs, marketing costs, etc., in order to ensure the profitability of the enterprise when setting prices.

competitor price

Competitor prices refer to the price levels set by competitors of the same or similar products.

Enterprises need to understand the pricing strategies of their competitors so that they can adjust their pricing strategies according to market competition when setting their own prices to avoid prices that are too high or too low.

Pricing Strategy

market pricing

Market pricing refers to the price set by an enterprise relative to its competitors based on market demand and competition.

Market pricing strategies include: market-oriented pricing, market share-oriented pricing, market positioning pricing, differentiated pricing, etc.

cost pricing

Cost pricing refers to the price set by the enterprise based on the production cost of the product and the required profit margin.

Cost pricing strategies include: full cost pricing, variable cost pricing, marginal cost pricing, etc.

selling price strategy

Selling price strategy refers to different price strategies formulated by enterprises for different consumer groups or sales channels.

The strategies of selling price strategy include: discount strategy, promotion strategy, package pricing strategy, etc.

pricing flexibility strategy

Pricing elasticity strategy refers to a price strategy in which enterprises make corresponding adjustments based on changes in market demand elasticity.

Pricing flexibility strategies include: flexible pricing, price bundling strategies, different price strategies for different markets, etc.

pricing decision process

collect message

Businesses need to collect information related to market demand, costs and competitor prices.

Information collection channels include market research, competitor analysis, cost accounting, etc.

Pricing target

Enterprises need to clarify pricing objectives, such as maximizing profits, increasing market share, improving brand image, etc.

Pricing targets can be determined based on the company's current operating conditions and market conditions.

Pricing method selection

Enterprises choose appropriate pricing methods based on pricing objectives and market conditions.

Pricing methods include market pricing, cost pricing, selling price strategy and pricing flexibility strategy.

pricing implementation

Based on the chosen pricing method, the enterprise develops a specific price plan and implements it in the market.

During the pricing implementation process, attention needs to be paid to communication and coordination with channel partners to ensure price consistency and effectiveness.

Pricing evaluation

Companies need to evaluate and adjust pricing results.

Pricing evaluation can be carried out through market feedback, sales data analysis and profit analysis.