Pricing practice in marketing

Programme

The marketing approach to pricing. Marketing pricing strategies at the instrumental level

• Price — its special place in the marketing mix
• Conditions for making pricing decisions
• The role of pricing policy
• Pricing factors
• The price creation process
• Types of pricing strategies
• Pricing methods
• Coordinating strategies
• Market pricing based on the law of demand

Price as a sales management tool

• The essence of pricing strategy
• Factors influencing pricing strategy
• Price differentiation
• The high price strategy
• The low price strategy
• The competitive price strategy
• The differentiated (preferential and discriminatory) price strategy
• Other pricing strategies

Managing pricing in sales channels

• The essence, goals and objectives of sales promotion
• Tools used in sales promotion
• Consumer promotion methods
• Sales staff incentive methods
• Intermediary incentive methods

Buyers' price sensitivity effects

• The concept of buyer price sensitivity
• The perceived substitutes effect
• The unique value effect
• The switching cost effect
• The difficult comparison effect
• The price-quality effect
• The end-benefit effect
• The expenditure effect
• The perceived «fairness» effect
• The shared-cost effect
• The inventory effect

Workshop: developing a pricing strategy for a specific product