Explain in detail the following pricing strategies. - Cost Plus pricing - Penetration Pricing - Skimming or Creaming - Variable Price method - Cost Plus Pricing: Cost plus pricing is the most common and simple pricing strategy. As per this strategy the price is determined by calculating the sum of the cost of production and appropriate profit. However, this strategy does not stress on the optimum utilization of all available resources. This strategy completely depends on the manufacturing estimates. Costs associated with manufacturing are calculated to - Justify the planned capital expenditure - Calculate the cost of production for a new or re-designed product - Optimize the use of high cost areas. - The estimation is done by computing the factors like volume of resources, the cost associated with these resources and the duration for which these resources will be used. When it is required to justify the capital-expenditure, the depreciation and cash-flow analysis is done using accounting methods. Advantages: The information required to calculate the price i.e., amount of expenditure and the desired profit is readily available. It is simplest strategy as the price is computed just by adding all the cost incurred and the desired profit. As the information used is with the company itself, it can immediately take corrective measures by analysing the facts if it sees an increase in expenses. Disadvantages: The base for estimating the pricing is to consider the demand in the coming days. This method does not take this factor into account. This is a biggest drawback. As this method does not consider the competitors strategies to determine the pricing, companies depending completely on this method might fail. As this method considers the sunk cost and does not take opportunity cost into account there is a possibility of overestimating the price. In addition to this, the personal bias need to be added to the product. - Penetration Pricing: This strategy requires the price to be set to a value lower than the market price. This is usually done to acquire new customers. The whole idea is that the customers will switch to the new brand due to the lower prices. This is a short-term strategy and is usually used to increase the market share or sales volume rather than to incur huge profits. Once the required market share is achieved the prices are increased to regular values. Advantages: The market share and sales volumes are increased in a short term and before the competitors notice and react. Increases the goodwill among the customers who switch to this product. They intern refer the product to other customers and thereby contributing to the increased sales volumes. It increases the efficiency by introducing the cost control and cost reduction pressures right from start. Due to the lower price competitors hesitate entering into this area. Stock turnover is increased throughout the distribution channel. This method generates very critical and important enthusiasm and support in the channel. Disadvantages: The customers expect that the price will stay lower for the coming days and the company might be branded for its lower price. As a result, it becomes difficult to increase the prices in future. It is also possible that some of the customers will only stay with the product as long as the prices are low and they immediately switch to other brands as soon as the price is increased. It is not yet clearly determined whether it will be effective if the prices are increased suddenly or if they are increased over a period of time. Due to very small profit margin, the companies can not stick to this strategy for a longer term as it might result in losses for the company. Note: To overcome these disadvantages companies adopt a slightly modified version of this strategy where in they do not reduce the price initially. In this case they provide good discounts to the customers initially. This works as the customers do not have expectation that the price will be lower for a longer term. Additional content on this topic can be found at http://www.eduxir.com/curriculum/cbse/class-xii/entrepreneurship/enterprise-marketing/
Views: 3355 Eduxir
Please Subscribe here https://goo.gl/6mVLxs to have more videos on business, entrepreneurship, motivation, personal development and success strategy. Setting the right price for a product or a service can be very challenging especially for new entrepreneurs. This is because it can be quite confusing to understand how pricing really works in the market. For example, which of these two products would you buy, the first one is priced at $800 and the second product with the same functions and usage is priced only at $4? Obviously, most of us would choose the $4 product, right? Yes and no. It all depends on 2 important factors which I am going to explain more in this video. If you say yes then why is it that a 256GB iPhone 7 which is priced at $849 is more in demand than a Freedom 251 smartphone which is priced only at $4 a piece? If you say no then why is it that most of us would choose to get a $1 mineral water than the one that is priced at $200 a bottle? So how much should you price your product then? Well, there’s no one right answer to this question because there are so many things that you need to consider such as your overall business goals, how you plan to position your product in the market, your market niche, the costs to produce your products, your product category, and your overall operational costs, just to name a few. Is there a simpler way to do this? Of course, there is, just make sure you know your product category and your positioning strategy. Let me explain. Basically, your product will fall into either one of these two big categories. One is a generic product which can be divided into convenience and shopping products. Convenience products refer to our day to day products such as food, drinks, household products, and so forth whereas shopping products refer to products like clothing, shoes, furniture, and electrical appliances. The second product category is specialty products such as exclusive clothing lines, luxury cars, branded items such as branded bags, watches, shoes, and perfumes. If it is categorised as a generic product just use cost plus profit pricing strategy. Which means, you set your price by adding up the total costs to produce one unit plus the profit you want to make for every product sold. This usually works just fine because almost all generic products are priced this way. But if your product is a specialty product, you need to decide on how you want to position it in the market, more specifically how do you want to position it in the mind of your customers and you can set whatever price you want. The most important thing that you must remember here is this, the moment you enter the market with your product positioning and pricing strategy, it will stay in there forever and, to reposition it later on in the future is almost impossible. For example, Freedom 251 smartphone is positioned as the cheapest and most affordable smartphone in the world and to reposition it just like an iPhone is near to impossible task. Therefore, how should you price your products and services? Decide on your product category and on how do you want to position it in your market. pricing strategies | pricing strategies in marketing | competitive pricing strategy | marketing pricing strategies | pricing methods | business pricing strategies | pricing strategy examples | Follow me on twitter https://twitter.com/moslemanoar Connect with me on linkedin https://my.linkedin.com/in/moslem Follow me on my blog http://moslemanoar.com/ Connect with me on facebook https://www.facebook.com/moslemanoarpage Connect with me on skype moslemanoar
Views: 32820 Success Matters
Cost plus pricing is useful when the production costs of a product, or cost simple and easily controllable strategy that can be used to boost profits in almost any business apr 12, 2017 this article, we are going speak about another very popular strategy, known as mark up it involves how do you determine retail sales price your product service? There many strategies apply set. Cost plus pricing 101 the necessities and your strategy priceintelligently cost url? Q webcache. This lesson will jun 21, 2016 cost plus pricing is a very simple based strategy for setting the prices of goods and services. An alternative pricing method is value based the exact strategy used depends on your company's marketing and profit objectives. Reasons why cost plus pricing is harming your company. Googleusercontent search. Cost plus pricing youtube. With cost plus pricing you first add the full seeks to set a price that takes into account all relevant costs strategy e. The expectation is that the three things can happen with cost plus pricing strategies and two of them are bad you may leave money on table, over price product lose sale, a method in which selling determined by adding profit margin to per unit. What is cost plus pricing strategy? a Yahoo small businesscost definition, method, formula & examples video definition of in business finance the balance. Cost per unit includes actual direct materials, labor, variable manufacturing overheads and allocated fixed definition cost plus pricing is a method that attempts to ensure costs are covered while providing minimum acceptable rate of profit nov 17, 2016 if this manufacturer implements strategy their prices would be about 10. Cost plus pricing university of virginia & bcg cost the foundation a three part strategy markup boundless. Video created by university of virginia & bcg for the course 'cost and economics in pricing strategy'. Cost plus pricing ensures oct 17, 2014 wikipedia. Cost plus pricing 101 the necessities and your strategycost wikipedia. Cost plus pricing economics online. This week we'll tackle three areas that jan 27, 2015 last week, we took a look at the most oft used pricing strategy competitive act of glancing your neighbors' tables farmers' markup is in which company first calculates cost product, plus primarily because it easy to calculate and by mark pmany retailers manufacturers set their prices adding fixed absorption. How to set pricing at cost plus dummies. Cost plus pricing wikipedia. Under this approach, you add together the direct material cost, labor and overhead costs for a product, to it markup percentage (to create profit margin) in order derive price of product cost plus pricing is strategy which selling determined by adding specific dollar amount product's unit. What is full cost plus pricing? Cost pricing investopediacost price point partnersexample accounting explained. Oct 15, 2012 an overview of cost plus pricing, including it's pros and cons how it fits into your pricing stra
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Value created (as shown in the video) is the value created by all parts of value chain. Value created by the focal firm is (Value - Cost).
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In this short revision video we explain the concept of penetration pricing. You often see the tagline "special introductory offer" – the classic sign of penetration pricing. The aim of penetration pricing is usually to increase market share of a product, providing the opportunity to increase price once this objective has been achieved. Penetration pricing is the pricing technique of setting a relatively low initial entry price, usually lower than the intended established price, to attract new customers. The strategy aims to encourage customers to switch to the new product because of the lower price. Penetration pricing is most commonly associated with a marketing objective of increasing market share or sales volume. In the short term, penetration pricing is likely to result in lower profits than would be the case if price were set higher. However, there are some significant benefits to long-term profitability of having a higher market share, so the pricing strategy can often be justified. Penetration pricing is often used to support the launch of a new product, and works best when a product enters a market with relatively little product differentiation and where demand is price elastic – so a lower price than rival products is a competitive weapon.
Views: 7393 tutor2u
Show support for my channel: https://www.patreon.com/excelMaths Introduction to cost price and selling price problem. Arithmetric/Percentage - Very simple trick for this kind of problem. The trick is to treat cost price as 100% every time. Because selling price can be greater or less than the cost price. IF: Selling Price is greater than Cost Price, a profit is made Cost Price is greater than Selling Price, a loss has occurred ALSO. Marked Price is regarded as 100% as well. Once you get it, you can solve ANY problem related to cost and selling price problem. :))
Views: 84867 eXcelMathS!
Pricing expert Scott Laing, SVP at ORC International, shares best practices and key factors to consider when evaluating a pricing strategy. (0:05) The importance of getting pricing right (0:44) Where market research fits into a pricing strategy (1:21) The common pitfalls of pricing research (2:16) Factors to consider when evaluating a pricing strategy No matter how robust your product, promotion, and distribution are; value is realized only through pricing. What makes pricing research so scary is that there are many methods available to understanding what an appropriate price and pricing strategy should be. It is critical to pick the right research methods and match those methods directly to your research objectives and goals. There are a few pitfalls you want to be aware of before conducting a pricing study, starting with a methodological choice and assuming that the results of a pricing study can be implemented directly are the most common pitfalls. Ultimately, the three factors you need to consider when creating a winning pricing strategy are consumer insights, market situation and your business goals. For more information on how ORC International can help with your pricing challenges, please email [email protected] or visit http://www.orcinternational.com
Views: 236 Engine Group
Powtoons takes way too long to make-- Created using PowToon -- Free sign up at http://www.powtoon.com/join -- Create animated videos and animated presentations for free. PowToon is a free tool that allows you to develop cool animated clips and animated presentations for your website, office meeting, sales pitch, nonprofit fundraiser, product launch, video resume, or anything else you could use an animated explainer video. PowToon's animation templates help you create animated presentations and animated explainer videos from scratch. Anyone can produce awesome animations quickly with PowToon, without the cost or hassle other professional animation services require.
Views: 58 Pzook
Building cost has a direct impact on our design and it's one of the most basic and obvious concerns for architects and clients. In this video I'll show you how I use it as a creative constraint that informs our building design. Building cost is divided into two general categories: soft and hard costs. Soft costs are the indirect cost of design: architectural fees, consultant fees, permitting, financing, and legal fees. Hard costs are all the cost directly attributed to the construction of the physical building. Early on in the design process we know little about the building and so we use square footage as a means for estimating the building's cost to construct. But square footage alone won't provide all the information we need to properly describe the cost of a structure, some spaces cost more to build than others. Factoring the square footage provides an added level of precision and allows clients and architects to better plan how design affects the overall budget. Planning for unforeseeable conditions is important as well and I describe how much of a contingency to add to the project at each phase of the work. Cost considerations are crucial to realizing both our client's project and our vision for the work in the world and this video shares the framework I use to get there. // GEAR I USE // DSLR CAMERA: * Canon 70D: http://amzn.to/29klz7k LENSES: * Canon 24mm f2.8 Lens: http://amzn.to/29l7ac5 * Canon 40mm f2.8 Lens: http://amzn.to/29x2QcI AUDIO: * Rode VideoMic Pro (hotshoe mtd.): http://amzn.to/29qlNM3 * ATR-2100 USB (dynamic mic): http://amzn.to/2dFDaKp ARCHITECTURE GEAR: * Prismacolor Markers: http://thirtybyforty.com/markers * Timelapse Camera: http://thirtybyforty.com/brinno * AutoCAD LT: http://amzn.to/2dxjMDH * SketchUp PRO: http://amzn.to/2cRcojz * HP T120 Plotter: http://amzn.to/2dBGf1O * Adobe CC Photography (Photoshop/Lightroom) Plan: http://amzn.to/2dhq5ap STARTUP TOOLKIT: * Architect + Entrepreneur Startup Toolkit: http://thirtybyforty.com/SPL -~-~~-~~~-~~-~- Please watch: "Making a Site Model - The Outpost Project" https://www.youtube.com/watch?v=VsJrDScS5ZI -~-~~-~~~-~~-~-
Views: 124215 30X40 Design Workshop
For more info please visit: www.a2withkomilla.blogspot.com. In this video I explore what are the various pricing strategies (cost-plus pricing, price discrimination, predatory (destroyer) pricing, limit pricing, price skimming and penetration pricing. I look at some of the benefits and costs of these strategies and what are the diagrams used to shows them. This video is created and presented by Komilla Chadha.
Views: 24667 Komilla Chadha
Pricing Strategies - How to Price Your Product or Services For Maximum Profit // There's one simple thing that you can do to make more money. Can you guess what it is? Today I'm going to teach you how to price your product, or service for maximum profit. RESOURCES & LINKS: ____________________________________________ CrazyEgg: https://www.crazyegg.com/ How To Undercut Your Competitors Price (And Still Make Money) [video]: https://youtu.be/TLTL8mzkVLE You Are Pricing Your Product WRONG! How to Determine Optimal Price for Profit [video]: https://youtu.be/Tgnt7VUcvqw ____________________________________________ The first tip I have for you is looking at your costs. If you know your costs are X for your product or service, you got to charge more than that. You don't want to be losing money per sale. Everyone's like, oh my god I'm going to beat my competitors. I'm going to take the Jeff Bezos route and not worry about margins. Well, the reality is, unless you have a big pool of money to blow, you can't do that. You need to make sure it's profitable, including shipping, services, returns, other things like customer service, you need to take everything into account into your price, not just how much it costs for your product or service, but also all the other things like your office space. Once you include all of those things to run your business you'll figure out what you need to sell your product or service for, so you can make a profit. You're not in business just for charity. You need to make a profit and there's nothing wrong with that. The second thing you need to do is understand your target customers. What are your target customers looking for? How do they perceive value when they look at the price? A good example of this is a company called Diamond Foundry. They have figured out how to make diamonds above land. They match all the characteristics of a diamond that you find in the earth and there's really no difference from it. But they found they can do it much cheaper, by making it above land and created these machines to create the exact same composition as it does in the earth, to make a diamond. And when they had really cheap, affordable prices, they found that their sales weren't doing well. Can you guess why? It's because, everyone's like, oh this isn't the same thing, it's too cheap. So the moment they increased their prices, people like, oh wow, the quality of this must be amazing. Sure we'll buy it. There's no difference in the product, but people had the perceived value in their space, that higher price means better diamond. You need to look at your space. It could be that a cheaper price means more sales. Or it could be, cheaper price means fewer sales, because the perceived value isn't there. The third pricing strategy I have for you is anchoring. There's a lot of companies that'll show the initial price of let's say $37 and you may get X, Y and Z, but for $47 you'll get X, Y and Z and also 1, 2 and 3 and also A, B and C, just for $10 more. By using anchoring you'll find that very few people will choose a lower option, which you don't want them to choose, but the majority of the people use the higher option because you're getting so much more value for just a little bit more money. And that'll increase your profitability, especially if those other things that you're adding in don't cost you much at all. The fourth thing I want you to do is A/B test. Using tools like Crazyegg, you can A/B test your pricing, not only to maximize your sales, but also to maximize your profitability. Sometimes getting fewer sales means more profit. Sometimes getting more sales means more profit. Using Crazyegg you can A/B test to figure out what's the right price that you should end up rolling out to generate the maximum amount of revenue and profit. ► If you need help growing your business check out my ad agency Neil Patel Digital @ https://neilpateldigital.com/ ►Subscribe: https://goo.gl/ScRTwc to learn more secret SEO tips. ►Find me on Facebook: https://www.facebook.com/neilkpatel/ #Sales #NeilPatel #DigitalMarketing
Views: 9490 Neil Patel
Sometimes as freelancers when we are trying to determine a price we just arbitrarily pick a price. This is because we are choosing a price without thinking about the strategy. Here are some pricing strategies that will work no matter what level you are at. 1:30 = Cost Plus Pricing 2:38 = Computer Based Pricing 4:15 = Flat Rate Pricing 6:03 = Bundle Pricing 7:33 = Value Based Pricing 9:48 = Hourly Pricing More strategies to double your freelance rate: https://www.youtube.com/playlist?list=PLCwXQ_6N6UuOd93fYAGFiCWBVTEZ8JAj_ Make sure to subscribe and look out for new episodes. https://www.youtube.com/nathanallotey?sub_confirmation=1 — Looking to level up in your freelance business? You may need Creative Coaching: http://nathanallotey.com/coaching COUPON CODE: YOUTUBEFOLLOWER — Freelance Jumpstart Podcast on iTunes: http://nathanallotey.com/itunesaudio Free Course on How to Double Your Worth: http://respectandvalue.com Like the content? Donate to the Cause: http://nathanallotey.com/donate Executive Producer - Nathan Allotey Typefaces: Proxima Nova — Contact Me My website: http://nathanallotey.com Twitter: http://twitter.com/nathanallotey Facebook: http://facebook.com/TheNathanAllotey Instagram: http://instagram.com/nathan.allotey Google+: https://plus.google.com/+NathanAllotey
Views: 639 Nathan Allotey
Thank you friends to support me Plz share subscribe and comment on my channel and Connect me through Instagram:- Chanchalb1996 Gmail:- [email protected] Facebook page :- https://m.facebook.com/Only-for-commerce-student-366734273750227/ Unaccademy download link :- https://unacademy.app.link/bfElTw3WcS Unaccademy profile link :- https://unacademy.com/user/chanchalb1996 Telegram link :- https://t.me/joinchat/AAAAAEu9rP9ahCScbT_mMA
Views: 54177 study with chanchal
Pricing Strategy Definition Example Penetration Pricing Here the organisation sets a low price to increase sales and market share. Once market share has been captured the firm may well then increase their price. A television satellite company sets a low price to get subscribers then increases the price as their customer base increases. Skimming Pricing The organisation sets an initial high price and then slowly lowers the price to make the product available to a wider market. The objective is to skim profits of the market layer by layer. A games console company reduces the price of their console over 5 years, charging a premium at launch and lowest price near the end of its life cycle. Competition Pricing Setting a price in comparison with competitors. Really a firm has three options and these are to price lower, price the same or price higher Some firms offer a price matching service to match what their competitors are offering. Product Line Pricing Pricing different products within the same product range at different price points. An example would be a DVD manufacturer offering different DVD recorders with different features at different prices eg A HD and non HD version.. The greater the features and the benefit obtained the greater the consumer will pay. This form of price discrimination assists the company in maximising turnover and profits. Bundle Pricing The organisation bundles a group of products at a reduced price. Common methods are buy one and get one free promotions or BOGOF's as they are now known. Within the UK some firms are now moving into the realms of buy one get two free can we call this BOGTF i wonder? This strategy is very popular with supermarkets who often offer BOGOF strategies. Psychological Pricing The seller here will consider the psychology of price and the positioning of price within the market place The seller will therefore charge 99p instead £1 or $199 instead of $200. The reason why this methods work, is because buyers will still say they purchased their product under £200 pounds or dollars, even thought it was a pound or dollar away. My favourite pricing strategy. Premium Pricing The price set is high to reflect the exclusiveness of the product. An example of products using this strategy would be Harrods, first class airline services, Porsche etc. Optional Pricing The organisation sells optional extras along with the product to maximise its turnover. T This strategy is used commonly within the car industry as i found out when purchasing my car. Cost Based Pricing The firms takes into account the cost of production and distribution, they then decide on a mark up which they would like for profit to come to their final pricing decision. If a firm operates in a very volatile industry, where costs are changing regularly no set price can be set, therefore the firm will decide on their mark up to confirm their pricing decision. Cost Plus Pricing Here the firm add a percentage to costs as profit margin to come to their final pricing decisions. For example it may cost £100 to produce a widget and the firm add 20% as a profit margin so the selling price would be £120.00 4ps marketing mix brand marketing strategy brand strategies brand strategy branding marketing strategy branding strategies branding strategy business and strategy business level strategy business plan pricing strategy example business strategies business strategy business strategy examples business strategy model business strategy template by product pricing strategy communication strategy communications strategy example marketing strategy example of a marketing strategy example of marketing plan example of marketing strategy example of pricing strategy examples of marketing strategies examples of marketing strategy examples of pricing strategies hotel marketing plan marketing and sales strategies marketing and sales strategy marketing communication strategy marketing communications marketing communications strategy marketing mix marketing plan marketing plan example
Views: 4127 Mr. Advertiser
In this A level Business Studies revision video, we teach you the most common PRICING STRATEGIES used by organisations and assess the merits of each one. Pricing strategies is a topic on all of the major exam boards A level business specifications. A level Business Studies Revision from TakingTheBiz.
Views: 27765 TakingTheBiz
In this short revision video we explain the concept of dynamic pricing. Dynamic pricing is a pricing strategy in which businesses set flexible prices for products or services based on current market demands. The aim of dynamic pricing is to allow a business that sells goods or services online and/or via mobile apps to adjust selling prices on the fly in response to changing market demand.
Views: 9100 tutor2u
10 different types of pricing 1) Premium pricing It is a type of pricing which involves establishing a price higher than your competitors to achieve a premium positioning. You can use this kind of pricing when your product or service presents some unique features or core advantages, or when the company has a unique competitive advantage compared to its rivals. For example, Audi and Mercedes are premium brands of cars because they are far above the rest in their product design as well as in their marketing communications. 2) Penetration pricing It is a commonly used pricing method amongst the various types of pricing is designed to capture market share by entering the market with a low price as compared to the competition. The penetration pricing strategy is used in order to attract more customers and to make the customer switch from current brands existing in the market. The main target group is price sensitive customers. Once a market share is captured, the prices are increased by the company. 3) Economy pricing This type of pricing takes a very low cost approach. Just the bare minimum to keep prices low and attract a specific segment of the market that is highly price sensitive. Examples of companies focusing on this type of pricing include Walmart. 4) Skimming price Skimming is a type of pricing used by companies that have a significant competitive advantage and which can gain maximum revenue advantage before other competitors begin offering similar products or substitutes. It can be the case for innovative electronics entering the marketing before the products are copied by close competitors or Chinese manufacturers. 5) Psychological pricing It is a type of pricing which can be translated into a small incentive that can make a huge impact psychologically on customers. Customers are more willing to buy the necessary products at $4,99 than products costing $5. The difference in price is actually completely irrelevant. However, it makes a great difference in the mind of the customers. This strategy can frequently be seen in the supermarkets and small shops. 6) Neutral strategy This type of pricing focuses on keeping the price at the same level for all four periods of the product lifecycl. However, with this type of strategy, there is no opportunity to make higher profits and at the same time, it doesn’t allow for increasing the market share. Also, when the product declines in turnover, keeping the same price effects the margins thereby causing an early demise. This pricing is used very rarely. 7) Captive product pricing It is a type of pricing which focuses on captive products accompanying the core products. For example, the ink for a printer is a captive product where the core product is the printer. When employing this strategy companies usually put a higher price on the captive products resulting in increased revenue margins, than on the core product. 8) Optional product pricing It can be frequently observed in the case of airline companies. For example, the basic product of KLM Airlines is offering or providing seats in the airplane for different flights. However, once the customers start purchasing these seats, they are offered optional features along with the seats. Examples may be extra seat space, more drinks etc. Because of this optional product, there is more revenue generated from the main product. Customers are willing to spend for the optional product as well. 9) Bundling price Ever hear of the offer of 1 + 1 free? In the supermarket, when two different products are combined together such as a razor and the lotion for shaving, and they are offered as a deal, then we get to experience the bundling type of pricing first hand. This strategy is mainly used to get rid of excess stocks. 10) Promotional pricing strategy It is just like Bundling price. But here, the products are bundled so as to make the customer use the bundled product for the first time. This type of pricing focuses on buying one, and getting a new type of product for free. Promotional pricing can also serve as a way to move old stock as well as to increase brand awareness. 11) Geographical pricing It involves variations of prices depending on the location where the product and service is being sold and is mostly influenced by the changes in the currencies as well as inflation. An example of geographic pricing can also be the sales of heavy machinery, which are sold after considering the transportation cost of different locations. Click here to read more on geographical pricing strategy. Facebook Page : https://www.facebook.com/4MINUTEMARKETING/ Instagram Page : https://www.instagram.com/4minutemarketing/ If you find this content helpful, do SHARE it with others. This page is for educational purpose, where I share different contents of Marketing. My goal is to help and educate students with simplest way possible. #4minutemarketing
Views: 2332 4 Minute Marketing
PRICING STRATEGIES AND TACTICS 1 MANAGERIAL ECONOMICS
Views: 1846 Shashi Aggarwal
How to price your products to maximize demand and profit and create a strong business strategy using the Predictive Innovation Method with Flying Cars as an example. http://www.PredictiveInnovation.com/ Addresses the common economic error of the zero sum game. This is holistic approach to deal with subjective and conditional nature of price. By focusing on the value of using the product you can calculate the price customers are willing to pay, both in money and other factors.
Views: 45966 Mark Proffitt
Mr. Clifford's explains how to draw a monopoly with first degree price discrimination. Try pausing the video to see if you can show price, consumer surplus, and profit on the graph. Please keep in mind that these clips are not designed to teach you the key concepts. These videos are a review tool to help you better understand what you learned in class. ACDC is Mr. Clifford's teaching philosophy: Active Learning Cooperative Learning Discovery Learning Community
Views: 269020 Jacob Clifford
Once you’ve decided on a pricing strategy, it’s time to choose pricing method. What’s the difference? Strategies enable you to choose the most efficient pricing policy on a foreign market depending on the demand for specific products. The choice of pricing methods, on the other hand, is based on the analysis of internal conditions, the costs and the desired profit. Here you can find information about the calculation pricing methods, or rather about the first type of such methods, the cost-based one.
Views: 1086 АО "Российский экспортный центр"
https://www.coursera.org/learn/uva-darden-bcg-pricing-strategy-cost-economics How much should you charge for your products and services? Traditionally, businesses have answered this question based on the cost to produce or provide their goods and services. This course shows you the economic factors behind pricing based on cost and the pros and cons of a cost-based pricing approach. Led by Darden faculty and Boston Consulting Group global pricing experts, the course provides the practical and research-based models and methods you need to set prices that maximize your profits.
Views: 127 knowledge.tt
Generating a price can be difficult. Watch this video do learn some techniques to help you come up with the perfect price for all of your products and services. FREE LIVE TRAINING WITH ME EVERY MONTH Is this the year you want to take your income to another level? Join me every month on a 60-minute online training session and I’ll share with you powerful pricing strategies. Click here to find out more and to get on the VIP list… https://www.wickersham.co.uk/p/free-mentoring FREE eBOOK If you’d like a completely free copy of my eBook, “Your Value Pricing System” you can grab a copy here: https://www.cloud-pricing-software.com/p/pricing-systems-opt-in In this 24-page eBook I share with you a tried, tested and proven step-by-step pricing system for accounting and bookkeeping firms. FREE SUPPORT GROUP Have you visited my Facebook group? It’s dedicated to helping accounting professionals master value pricing. To request access to it, click here… https://www.facebook.com/groups/valuepricingwithmarkwickersham/ YOUR FREE TRIAL OF CLOUD PRICING 2.0 Grab your free 30-day trial of my value pricing software here, https://www.cloud-pricing-software.com #effectivepricing #valuepricing #markwickersham https://youtu.be/zBGc5-1c174 Mark Wickersham: How do you calculate your price? It's a big question I get. My name's Mark Wickersham, I am a professional speaker and author, teaching accountants and bookkeepers how to price. There are essentially only two different ways that you can price, if we really drill it down to its basics. There's cost plus pricing, and value pricing. Cost plus is the old fashioned way of pricing in the profession, which is based on time, how long the job takes. Value pricing is a much more superior way of pricing. We price based on the value the customer places on something we do. Of course that creates a problem straight away, because how do we know what that is? And the problem is, we don't. The customer will have in their mind a number they're willing to pay based on their perception of value. They won't tell us what it is. But nevertheless, we have to figure out some way of coming up with a price. So, let me give you three thoughts, three ideas of things that you can do when coming up with your price. So, number one, certainly you want to make sure that when you give a fixed price upfront, you certainly want to make sure that you cover your costs. You want to make sure that you properly identify what's the scope of the work? How much work needs to be done? And that comes from experience of doing work, working out what the right questions ask, and how to build that into your calculations. And it may well be that you use a tool like Cloud Pricing to do exactly that, it takes all the hard work, all the guess work out of the process. The second thing you want to do is, having then worked out what the scope is, you then want to give the client some different choices. You want to give them menu pricing, you create different packages. And let the client choose the one that's right for them. And that means that what you can do with value pricing, we make sure that certainly our more expensive packages are based on the value, nothing to do with the time it takes, the cost of those packages is based on the value of those packages. And so what we do is we price the top ones much higher. And if the customer sees value in your most expensive, your premium, your gold, they will pay that, and they're happy. And of course, you're happy. If they don't see value, they can choose a different package. So, by letting the customer choose from different options, they will pick the one where the price represents value to them. We can then go to another level of detail, so that rather than just having three or four packages, we start to give other options outside of those packages. It may be for example you ask the client, "When we do this work, who would you like to lead the project at our end? Who do you want to work with?" They'll probably choose you, they always choose you. But if they choose you, that's because they value working with you. If they value working with you, you can then build in to your calculations a higher price. And you should charge a higher price. Knowing that if the client then agrees your price, they're obviously happy with it, they see the value. If they think the price is then too high, you can go back and change the package with them. You can say, "Well, the reason it's that price is because you want to work with me. Now, if you would prefer a lower price, then we can change the package. One of the things you could do is you could have as the lead on this project, it could be my assistant, Bob." And then the client gets to choose based on their perception of the value of the different options. Do they pay more to work with you? Do they pay less to work with somebody else?
Views: 131 Mark Wickersham
Is it time for a pricing reboot? Do you know whether your prices are making you money or sending you to the poorhouse? When is it okay to sell something below cost? When do you make the tough decision to stop producing something? In this webinar, UVM Extension's Mary Peabody will guide you through a refresher on the things you need to know to set smart prices. Yes, you probably learned this once or twice, but when is that last time you spent some time really thinking through your pricing strategies? The founding director of the Women's Agricultural Network, Mary is passionate about working with small-scale farmers and small business owners on issues related to business planning, marketing and feasibility. This webinar is the second of a three-part series focusing on key topics for small and medium-sized farm/food businesses specializing in direct-to-consumer sales. The series started in January with "Consumer Trends," which examined some major drivers in food purchase decisions specific strategies small farmers can use to positioning products in a rapidly changing marketplace. The series continues in March with "Targeting Your Market Dollar" which will help you get the most from your marketing investments. Pricing Your Products | February 16, 2016 The series is presented by the Women in Agriculture Learning Network, in collaboration with the University of Vermont Women's Agricultural Network and New Farmer Project. https://learn.extension.org/events/2421
Views: 115 Women in Ag Learning Network
Too often, managers treat pricing as a tactical problem in financial analysis or sales management. In fact, pricing products and services is a strategic problem that requires coordination of many functional areas. The ability to manage effective pricing affects a company's growth and profitability more quickly and directly than any other strategic decision. This seminar is designed for senior managers and executives of companies in business-to-business, service, and consumer markets, who analyze, recommend, or approve pricing decisions. For more information, visit http://PSTBooth.chicagoexec.net.
Views: 1814 Chicago Booth Executive Education
"Pallav Nadhani, Co-founder & CEO, FushionCharts talks about the elements that go into consideration while pricing a product. Click here to subscribe this channel at : https://goo.gl/mR1FKK He states there are two ways to price a product and they are as follows: 1. Cost plus: Cost of all the input raw materials + profit margin = Price of the product 2. Value minus: A significant share of the customer's perceived sense of the value of the product = Price of the product The key pointers to be kept in mind are: 1. Avoid underpricing your product 2. Price the product keeping in mind, both the buyer and the user" About Wadhwani Foundation: Wadhwani Foundation’s primary mission is to accelerate economic development in emerging economies and drive high-value job creation through entrepreneurship, innovation and skills development. Founded in 2000 by Silicon Valley entrepreneur, Dr. Romesh Wadhwani, today the Foundation is scaling impact in 25 countries across Asia, Africa, and Latin America through the following Initiatives. To know more about Wadhwani Foundation and its Initiatives: https://www.wfglobal.org Click here to subscribe this channel at: https://goo.gl/mR1FKK Connect with us: Facebook : https://www.facebook.com/wadhwanifoundation Twitter : https://twitter.com/wadhwanif LinkedIn : https://www.linkedin.com/company/wadhwani-foundation About Wadhwani Advantage: Partners with Startups and SMEs to establish a hyper-growth path of 2x to 10x in revenue and job growth over 3-5 years by providing advisory, strategic, and execution support services through in-house and on-demand AI-enabled network of coaches, consultants, customers, and capital providers. About Wadhwani Entrepreneur: Inspires, educates, and supports early-stage entrepreneurs through: • Wadhwani Venture Fastrack: Maximizes success rates of early-stage startups • Wadhwani Entrepreneur College: Empowers global students with an entrepreneurial mindset and skills leading to better jobs, intrapreneurship and long-term entrepreneurship • Wadhwani Inspire: Establishes a nationwide culture of entrepreneurship To know more about Wadhwani Advantage: https://www.wfglobal.org/advantage/ To know more about Wadhwani Venture Fastrack: https://vft.wfglobal.org/
Views: 2820 Wadhwani Foundation
J2Store allows you to try all kinds of pricing options on your store. Lets say you have different quantity ranges for a particular product. You can set different pricings for each quantity range. For eg if you have quantity ranges 1-10 items priced at $50 and another range 10- 20 priced at $55. If a customer decides to buy 12 items of the same product, this is how he will be charged. (10x $50) + (2x $55). Learn how to implement this on your store. Visit our site here: https://www.j2store.org Download our extension here: https://www.j2store.org/extensions/apps/incremental-pricing.html
Views: 301 j2store
Discussion of relevant and irrelevant costs and an incremental analysis. Other videos in this series: Part 2 - Special Orders Part 3 - Setting Prices Part 4 - Dropping Products and Product Mix Part 5 - Outsourcing and Process Further Decisions For more accounting/how to eLectures (and accompanying lecture notes), blog and a discount textbook-store visit www.TheAccountingDr.com Please note that videos may require Flash media and may not play on devices without Flash capabilities (i.e. iPad).
Views: 7744 Brian Routh TheAccountingDr
VIDEO 102 #UNIVERSAL_STRATEGY #UNIVERSAL_STRATEGY_WHICH_WORKS_IN_ALL_MARKET #UNIVERSAL_STRATEGY_WHICH_WORKS_IN_WORLD_MARKET https://youtu.be/LTj7MKDGmeY In this video, I have tried to explain scope of universal strategy which works in all market including world market and it works in all scripts including equity, commodity and index. To be a part of our fast growing community, please open one account in any one of these links and get benefits in our services. ALICEBLUE ACCOUNT OPENING LINK (BEST BROKER FOR COMMODITY OR MCX) http://app.aliceblueonline.com/openAnAccount.aspx?C=MN60 UPSTOX ACCOUNT OPENING LINK (BEST FOR EQUITY) https://www.upstox.com/?f=Y056 FYERS TRADING ACCOUNT OPENING LINK (FREE OF COST TO LINK EXISTING ACCOUNT ONLY) https://fyers.in/open-an-account/?id=FR0992 ZERODHA ACOCUNT OPENING LINK https://zerodha.com?c=ZMPIKM After opening the account and logging into your app, send screenshot of your upstox app and client id in whatsapp number given in channel description to verify it, after verifying it, you will eligible to join advanced renko telegram channel, where you can see stocks list in between 3pm to 6pm for next trading day. N.B. for fyers and zerodha account, you have to contact in whatsapp to know little different terms to join telegram channel. Our best Intraday Strategies* (All strategies private webinar are available in youtube, to get the link, whatsapp to 9668899701 with strategy names from the given list below and if you need doubt clearing session in team viewer, we help in one to one communication in team viewer for dedicated clearance of any doubt regarding strategy.) The team viewer setup may go around 1 hour, At first videos will be given for your observation, you will observe for 3 trading days and maintain the excel sheet to show your logical paper trade profits, we will check it and take team viewer session and then you will be suggested to trade and gain regular profits and contact in middle for any doubts or issues in whatsapp. Choose any one or more from below… 1. UNIVERSAL STRATEGY WORKS IN ALL SCRIPTS STOCKS, COMMODITIES, INDECES, FOREIGN MARKET (TARGET 1 TO 5% IN EACH TRADE) 2. FIRST CANDLE V TECHNIQUE (COMES BETWEEN 9.15 AM TO 9.35AM) (TARGET 0.5% - 1.5%) 3. SECOND V TECHNIQUE (9.15AM TO 9.50AM) (0.3% TO 0.5%) 4. RETRACEMENT AND DIVERGENCE TECHNIQUE (10.00AM TO 12.30PM) (0.3% TO 0.5%) 5. MOVING AVERAGE TECHNIQUE (WORKS AT ANYTIME) (0.3% TO 0.5%) 6. RENKO SUPER ADVANCED TECHNIQUE (WORKS IN EQUITY ONLY 9.15AM TO 10.30AM AND 12.30PM TO 3.10PM) (0.3% TO 2.0%) 7. 7 FRIENDS TECHNIQUE WORKS AT ANY TIME (TARGET 0.5% - 1.5%) 8. BANKNIFTY OPTIONS TECHNIQUE (15% TO 20% RETURN SAME DAY, AROUND 200% RETURN IN WEEK) 9. NIFTY OPTIONS TECHNIQUE (15% TO 20% RETURN SAME DAY, AROUND 200% RETURN IN WEEK) 10. CRUDEOIL 7 STAR TECHNIQUE WORKS AT ANY TIME (15 TO 40 OR MORE POINTS PER LOT & PER TRADE) 11. BANKNIFTY OPTIONS WRITING/SELLING TECHNIQUE (100% RETURN IN WEEK) 12. SUPER CYCLE TECHNIQUE (WORKS AT ANY TIME) (0.3% TO 0.5%) 13. SQUEEZ OR NARROW RANGE TECHNIQUE (EQUITY AND COMMODITY AT ANY ANYTIME) (0.3% TO 0.5%) 14. ADVANCED OPENING RANGE BREAKOUT (ALMOST UNIDIRECTIONAL MOVEMENTS) (TARGET 0.5% - 4.0%) 15. NIFTY FUTURES STRATEGY WORKS AT ANY TIME (50 POINTS PER LOT) 16. BANKNIFTY FUTURES STRATEGY WORKS AT ANY TIME (100 POINTS PER LOT) 17. CRUDEOIL OPTIONS TECHNIQUE (20 TO 40 POINTS) POSITIONAL STRATEGIES* 18. MOVING AVERAGE COMBO 19. SWING FLOW 20. ALL ROUNDER HEDGING TECHNIQUE 21. LONG TERM INVESTEMENT STRATEGY *This is purely for educational purposes, trade with your own knowledge and risk only. TAGS : PAID STRATEGY FOR FREE, trading strategies in indian stock market, stock market for beginners, share market basics for beginners, stock strategies that work, paid strategy exposed, paid strategy for free in crudeoil, options trading strategy, options trading strategy and risk management, derivatives futures and options, share analysis, how to select stocks for intraday trading, intraday trading strategies india, SIMPLE WAY TO LEARN STOCK MARKET, penny multibagger stocks, Recover all losses in share market, no loss intraday strategy, intraday strategy for equity stock india, options chain analysis, technical analysis of nifty 50, CORRECT USE OF VOLUME, technical analysis of index, how to select stocks for intraday, how to select stocks for swing trading, stock selection process for intraday, stock selection process for swing trading, right way to select stocks. The content of the video is only for educational purpose, apply in market with proper knowledge and study with own risk and before investment must consult with certified financial adviser or planner. Contact us in whatsapp for more details, whatsapp number is given in channel contact or banner page. ©TDA(TRADE DATA ANALYSIS)
Views: 3249 TRADEDATA ANALYSIS
SUBSCRIBE for More Film Theories! ► http://bit.ly/1dI8VBH Your SOUL’S Price? (Fullmetal Alchemist) ► https://goo.gl/KwMAeL How DEADLY is Death Note? ►► https://goo.gl/ppzpui SWORD ART ONLINE is one of the most (in)famous anime out there today, and its premise is cooler than most whole shows. SAO is a fully immersive VR MMO—so immersive that people in the game can LITERALLY die from playing it. Needless to say, this sort of VR experience doesn’t exist yet, but we’re definitely creating the groundwork that will lead to this tech. But knowing how much our current VR systems cost, is a game like SAO even feasible for developers? How much would it cost to create something as ambitious as this? Well, Loyal Theorists, the answer is SO MUCH MORE than you expect! MORE FILM THEORIES High School Musical’s TROY LIES! ►► https://goo.gl/oNMtER Spongebob Is ADOPTED! ►► https://goo.gl/545zfq The Emoji Movie is ILLEGAL! ►► https://goo.gl/LsA7Pa Gravity Falls ISN’T OVER! ►► http://bit.ly/2l2P2dt Will MORTY KILL RICK?! ►► https://goo.gl/GBkFhi Is THOR Stronger Than THE HULK? ►► https://goo.gl/VDYAqc Don't Hug Me I'm Scared DECODED! ►► http://bit.ly/FTDHMIS SOCIAL MEDIA: Twitter: @MatPatGT Facebook: facebook.com/GameTheorists Instagram: instagram.com/matpatgt
Views: 5348797 The Film Theorists
Senator McCaskill responds to a suggestion from YouTube's Senate Hub on dealing with "Cost-plus" contracts.
Views: 756 Senator Claire McCaskill
Clip 1 of 4 - Professor Rehfeld examines how businesses can competitively price their products and services, particularly by considering customer perceived value. Marketing Professor John Rehfeld examines pricing strategies for businesses, including how to effectively raise or lower prices. Professor Rehfeld has a proven track record in launching and commercializing technical innovations in the business and consumer markets.
Views: 943 Pepperdine University