Pricing Strategies and Tactics - Introduction | tutor2u

Pricing Strategies and Tactics - Introduction · Pricing strategies. These are adopted over the medium to long term to achieve marketing objectives They have a ... GradeBoosterstudentworkshopsarebackincinemasfor2022. Learnmore› Mainmenu Subjects Shop Courses Live Jobsboard Viewshoppingcart Viewmytutor2u Oursubjects ›Business ›Criminology ›Economics ›Geography ›Health&SocialCare ›History ›Law ›Politics ›Psychology ›Sociology Specialistchannels ›TheProfessionalTeacher Home Subjects Business Criminology Economics Psychology Sociology Politics Geography Health&SocialCare History Law Shop Courses Live Jobsboard Account Shoppingcart Logout Close ExploreBusiness Business Search Explore Blog Referencelibrary Collections Shop Business Reference Business Explore Overview Latest Topics Watchnow Blog Referencelibrary Collections Shop Close StudyNotesPricingStrategiesandTactics- Introduction Level: GCSE,AS Board: AQA,Edexcel,OCR,IB Share: Facebook Twitter Email Printpage Pricingisaverypowerfulweaponinmarketing,buttherearemanydifferentwaystouseittohelpachievemarketingobjectives.Itisimportanttomakeadistinctionbetweenpricingstrategiesandpricingtactics PricingstrategiesTheseareadoptedoverthemediumtolongtermtoachievemarketingobjectivesTheyhaveasignificantimpactonmarketingstrategy.PricingtacticsTheseareadoptedintheshortruntosuitparticularsituationsTacticshaveonlylimitedimpactbeyondshort-termsalesoftheproductitself. Itmayalsobethatthepricingstrategiesabusinesscanimplementareconstrainedbythecompetitivepositionofthebusiness.Itisoftensaidthattherearefourcategoriesofpositionabusinesscanfinditselfinwhichinfluencethecontrolithasoverpricing:(1)PricetakerHere,abusinesshasnooptionbuttochargetherulingmarketprice.(2)PricemakerForapricemaker,thebusinesshasastrongenoughcompetitivepositiontobeabletofixitsownprice–eitherhigherorlowerthanthecompetition.(3)PriceleaderApriceleaderisoftenamarketleaderwhosemarketshareissostrongthatitspricechangesarecloselyfollowed(andoftencopied)byrivals(4)PricefollowerAbusinessthatjustfollowstheprice-changingleadofthemarketleader(ignoringtherestofthecompetition) Share: Facebook Twitter Email Printpage Business StudyNotes Penetrationpricing Competitorpricing Predatorypricing Premiumpricing Psychologicalpricing Marginalcostpricing Facebook Twitter YouTube Instagram LinkedIn Oursubjects OurSubjects ›Business ›Criminology ›Economics ›Geography ›Health&SocialCare ›History ›Law ›Politics ›Psychology ›Sociology Explore Explore ›Teaching&learningresources ›Ondemandcourses ›OnlineCPDforteachers ›Livebroadcasts ›Teachingjobs Contact Contact BostonHouse, 214HighStreet, BostonSpa, WestYorkshire, LS236AD Tel:+4408448000085 ›Contactus ›Termsofuse ›Privacy&cookies ©2021Tutor2uLimited.CompanyRegno:04489574.VATregno816865400. Backtotop