YSBAT:

Marketing Mix: Pricing

Price Skimming

Learning Objectives/Amcanion Dysgu

Influences on Pricing Policy

By the end of the lesson you should be able to

Explain the importance of Price within the Marketing Mix.

Highlight the main factors that influence price.

Identify the main types of pricing strategy used by businesses.

Pricing for new products

Launching a new product will often involve the use of one theses strategies:

Penetration Pricing

Skimming

What is Price?

Strategies tend to be:

Market-orientated - create/produce goods to meet the needs of their target market. Price will be set according to willingness of customers to pay

Cost based - focus on producing goods without regarding the needs of customers. price will depend on cost