Bài giảng Marketing - Chapter 14: Arriving at the final price

McGraw-Hill/Irwin Copyright © 2013 by The McGraw-Hill Companies, Inc. All rights reserved.LO1Describe how to establish the “approximate price level” using demand-oriented, cost-oriented,profit-oriented, and competition-oriented approaches.Recognize the major factors considered in deriving a final list or quoted price from the approximate price level.LO2LEARNING OBJECTIVES (LO)AFTER READING CHAPTER 14, YOU SHOULD BE ABLE TO:LO3Identify the adjustments made to the approximate price level on the basis of discounts, allowances, and geography.Name the principal laws and regulations affecting specific pricing practices.LO4LEARNING OBJECTIVES (LO)AFTER READING CHAPTER 14, YOU SHOULD BE ABLE TO:VIZIO, INC.—WHERE VISIONMEETS VALUE™ IN HDTVFIGURE 14-1 The six steps in setting price. The first three steps were covered in Chapter 13 and the last three steps in Chapter 14.FIGURE 14-2 Four approaches for selecting an approximate price levelSTEP 4: SELECT ANAPPROXIMATE PRICE LEVELDEMAND-ORIENTED PRICING APPROACHESLO1Skimming PricingPenetration PricingPrestige PricingPrice LiningRolex AdMARKETING MATTERSEnergizer’s Lesson in Price Perception—Value Lies in the Eye of the BeholderLO1FIGURE 14-3 Demand curves for two demand-oriented pricing approachesSTEP 4: SELECT ANAPPROXIMATE PRICE LEVELDEMAND-ORIENTED PRICING APPROACHESBundle PricingYield Management PricingOdd-Even PricingTarget PricingLO1STEP 4: SELECT ANAPPROXIMATE PRICE LEVELCOST-ORIENTED PRICING APPROACHESStandard Markup PricingCost-Plus PricingExperience Curve PricingCost-PlusPercentage-of-CostPricingCost-PlusFixed-FeePricingLO1FIGURE 14-A Markups for a manufacturer, wholesaler, and retailer on a home appliance sold to consumers for $100STEP 4: SELECT ANAPPROXIMATE PRICE LEVELPROFIT-ORIENTED PRICING APPROACHESTarget ProfitPricingTarget Return-on-Sales PricingTarget Return-on-Investment PricingLO1FIGURE 14-4 Results of a computer spreadsheet simulation to select a price to achieve a target return on investmentSTEP 4: SELECT ANAPPROXIMATE PRICE LEVELCOMPETITION-ORIENTED PRICING APPROACHESCustomary PricingAbove-, At-, or Below-Market PricingLoss-Leader PricingLO1USING MARKETING DASHBOARDSAre Red Bull PricesAbove, At, or Below the Market?Price Premium (%)LO1STEP 5: SET THE LISTOR QUOTED PRICECHOOSING A PRICE POLICYOne-Price PolicyFlexible-Price PolicyDynamic PricingClickstreamLO2CarMax AdMAKING RESPONSIBLE DECISIONSFlexible Pricing—Is There Discriminationin Bargaining for a New Car?Buying a New Car: Some Folks Pay MoreLO2STEP 5: SET THE LIST OR QUOTED PRICECOMPANY, CUSTOMER, ANDCOMPETITIVE EFFECTS ON PRICINGCompany EffectsCustomer EffectsProduct-Line PricingCompetitive EffectsPrice WarLO2STEP 5: SET THE LIST OR QUOTED PRICEBALANCING INCREMENTAL COSTSAND REVENUESMarginal AnalysisHow Many Extra Units to Sellfor a $1,000 Advertisement?Should 3 More Salespeople be Hired?LO2FIGURE 14-5 Expected incremental revenue from pricing and other marketing actions must more than offset incremental costs to achieve incremental profit FIGURE 14-6 Three special adjustments to list or quoted price include discounts, allowances, and geographical adjustmentsSTEP 6: MAKE SPECIAL ADJUSTMENTSTO THE LIST OR QUOTED PRICEDISCOUNTSQuantity DiscountsSeasonal DiscountsNoncumulative Quantity DiscountsCumulative Quantity DiscountsLO3STEP 6: MAKE SPECIAL ADJUSTMENTSTO THE LIST OR QUOTED PRICEDISCOUNTSTrade (Functional) DiscountsCash DiscountsLO3FIGURE 14-7 The structure of trade discounts affects the manufacturer’s selling price and the margins made by resellers in the marketing channelSTEP 6: MAKE SPECIAL ADJUSTMENTSTO THE LIST OR QUOTED PRICEALLOWANCESTrade-In AllowancesPromotional AllowancesEveryday Low Pricing (EDLP)LO3MARKETING MATTERSEveryday Low Prices at the Supermarket =Everyday Low Profits—Creating Customer Value at a CostLO3STEP 6: MAKE SPECIAL ADJUSTMENTSTO THE LIST OR QUOTED PRICEGEOGRAPHICAL ADJUSTMENTSFOB Origin PricingLO3STEP 6: MAKE SPECIAL ADJUSTMENTSTO THE LIST OR QUOTED PRICEGEOGRAPHICAL ADJUSTMENTSUniform Delivered PricingSingle-Zone PricingU.S. Postal Service Priority MailFlat Rate Prices from Denverto anywhere in the U.S.Envelope: $5.15Small Box: $5.35Medium Box: $11.35Large Box: $15.45LO3STEP 6: MAKE SPECIAL ADJUSTMENTSTO THE LIST OR QUOTED PRICEGEOGRAPHICAL ADJUSTMENTSMultiple-Zone PricingUniform Delivered PricingLO3STEP 6: MAKE SPECIAL ADJUSTMENTSTO THE LIST OR QUOTED PRICEGEOGRAPHICAL ADJUSTMENTSFOB with Freight-Allowed PricingFreight Absorption PricingUniform Delivered PricingLO3STEP 6: MAKE SPECIAL ADJUSTMENTSTO THE LIST OR QUOTED PRICEGEOGRAPHICAL ADJUSTMENTSBasing-Point PricingUniform Delivered PricingLO3FIGURE 14-8 Several pricing practices are affected by legal and regulatory restrictions, which benefit both consumers and firmsSTEP 6: MAKE SPECIAL ADJUSTMENTSTO THE LIST OR QUOTED PRICELEGAL & REGULATORY ASPECTS OF PRICINGPrice FixingHorizontal Price FixingVertical Price FixingRule of ReasonResale Price MaintenanceLO4STEP 6: MAKE SPECIAL ADJUSTMENTSTO THE LIST OR QUOTED PRICELEGAL & REGULATORY ASPECTS OF PRICINGPrice DiscriminationDeceptive PricingGeographical PricingPredatory PricingLO4GOING ONLINEAnd You Thought That “Free”is Simply DefinedLO4FIGURE 14-9 Five most common deceptive pricing practices3M GREPTILE™ GRIP GOLF GLOVE:PRICING AN INNOVATIVE PRODUCTVIDEO CASE 14VIDEO CASE 143M GOLF GLOVE1. What are the characteristics of the target market for the 3M Greptile Grip golf glove?VIDEO CASE 143M GOLF GLOVE2. (a) What are the key points of difference of the 3M Greptile Gripgolf glove when compared to competitors’ products, such as FootJoy and Bionic? (b) What arethe key points of difference when compared to substitute products,such as golf grips?VIDEO CASE 143M GOLF GLOVE3. How does the Greptile Grip golf glove meet 3M’s three criteria for new products?VIDEO CASE 143M GOLF GLOVE4. Since 3M has no prior products for the golf market, what special promotion and distribution problems might 3M have?VIDEO CASE 143M GOLF GLOVE5. (a) Looking at the competitors’ prices today, should 3M use a demand-oriented, cost-oriented, profit-oriented, or competition-oriented pricing strategy for its Greptile Grip golf glove? (b) Give your reasons. (c) For the strategy you selected, recommend a price-point, justifying your answer.Skimming PricingSkimming pricing involves setting the highest initial pricethat customers really desiringthe product are willing to pay when introducing a new or innovative product.Penetration PricingPenetration pricing involves setting a low initial price on anew product to appeal immediately to the mass market.Prestige PricingPrestige pricing involves setting a high price so that quality- or status-conscious consumers will be attracted to the product and buy it.Price LiningPrice lining involves setting the price of a line of products at a number of different specificpricing points.Odd-Even PricingOdd-even pricing involves setting prices a few dollars or cents under an even number.Target PricingTarget pricing consists of (1) estimating the price that ultimate consumers wouldbe willing to pay for a product, (2) working backward through markups taken by retailers and wholesalers to determine what price to charge wholesalers, andthen (3) deliberately adjusting the composition and features of the productto achieve the target price to consumers.Bundle PricingBundle pricing involves the marketing of two or more products in a single package price.Yield Management PricingYield management pricing involves the charging of different prices to maximize revenue fora set amount of capacity at any given time.Standard Markup PricingStandard markup pricing involves adding a fixed percentage to the cost of allitems in a specific product class.Cost-Plus PricingCost-plus pricing involves summing the total unit cost of providing a product or serviceand adding a specific amount to the cost to arrive at a price.Experience Curve PricingExperience curve pricing is a method of pricing based on the learning effect, which holds that the unit cost of many products and services declines by 10 percent to30 percent each time a firm’s experience at producing and selling them doubles.Target Profit PricingTarget profit pricing involves setting an annual target of a specific dollar volume of profit.Target Return-on-Sales PricingTarget return-on-sales pricing involves setting a price to achieve a profit that is a specified percentage of the sales volume.Target Return-on-Investment PricingTarget return-on-investment pricing involves setting a priceto achieve an annual targetreturn-on-investment (ROI).Customary PricingCustomary pricing involves setting a price that is dictated by tradition, a standardized channel of distribution, or other competitive factors.Above-, At-, or Below-Market PricingAbove-, at, or below-market pricing involves setting a market price for a product or product class based on a subjective feel for the competitors’ price or market price as the benchmark.Loss-Leader PricingLoss-leader pricing involves deliberately selling a product below its customary price, notto increase sales, but to attract customers’ attention in hopesthat they will buy other products as well.One-Price PolicyA one-price policy involves setting one price for all buyers ofa product or service. Also called fixed pricing.Flexible Price PolicyA flexible price policy involvessetting different prices forproducts and services depending on individual buyers and purchase situations. Also called dynamic pricing.Product Line PricingProduct line pricing involvesthe setting of prices for all itemsin a product line to cover the total cost and produce a profit for the complete line, not necessarily for each item.Price WarA price war involves successive price cutting by competitors to increase or maintain their unit sales or market share.Quantity DiscountsQuantity discounts are reductions in unit costs for alarger order.Promotional AllowancesPromotional allowances are cash payments or extra amountof “free goods” awarded sellersin the channel of distribution for undertaking certain advertisingor selling activities to promote a product.Everyday Low Pricing (EDLP)Everyday low pricing (EDLP)is the practice of replacing promotional allowances withlower manufacturer list prices.FOB Origin PricingFOB origin pricing is the “free on board” (FOB) price the seller quotes that includes only the cost of loading the product onto the vehicle and specifies the name of the location where the loading is to occur (seller’s factory or warehouse).Uniform Delivered PricingUniform delivered pricing isthe price the seller quotes that includes all transportation costs.Basing-Point PricingBasing-point pricing involves selecting one or more geographical locations (basing point) from which the list price for products plus freight expensesare charged to the buyer.Price FixingPrice fixing involves a conspiracy among firms to set prices for a product.Price DiscriminationPrice discrimination is the practice of charging different prices to different buyers for goods of like grade and quality.Predatory PricingPredatory pricing is the practice of charging a very low price for a product with the intent of driving competitors out of business.