Marketing Mix Used by Big Bazaar 1.) Pricing: - The pricing objective is to gain the “Maximum Market Share”. Pricing at Big Bazaar is based on the following techniques: a.) Value Pricing (EDLP- Every Day Low Pricing): - Big Bazaar promises consumers the lowest available price without coupon clipping‚ waiting for promotions‚ or comparison shopping. b.) Promotional Pricing: - Big Bazaar offers financing at low interest rate. The concept of psychological discounting (Rs.49‚ Rs.99‚ Rs.199
Premium Pricing
Price skimming is a pricing strategy in which a marketer sets a relatively high price for a product or service at first‚ then lowers the price over time. It is a temporal version of price discrimination/yield management. It allows the firm to recover its sunk costs quickly before competition steps in and lowers the market price. Price skimming is sometimes referred to as riding down the demand curve. The objective of a price skimming strategy is to capture the consumer surplus. If this is done successfully
Premium Pricing Marketing
Rich Manufacturing Saint Leo University MBA 540 Sep 8‚ 2011 Why do many firms use cost-plus pricing for supply contracts? Firms use cost-plus pricing in order to cover their operating costs. Cost-plus means they can increase the price to their customers with whom they have contracts when the operating costs rise. Operating costs can rise for many reasons and cost-plus pricing allows firms the flexibility to manage operating costs. This flexibility is often needed when the price
Premium Economics Cost Pricing
surrounding their pricing strategies: Should they continue to pursue Every Day Low Pricing strategies coupled with frequent promotions or determine a narrow focus on one or the other? If this is preferable‚ then which one will reap the biggest benefits for the department store? Competitors were aggressively promoted their established brand promotions with more fervor than ever‚ and Randall’s was slipping in market dominance. A decision had to be made regarding their pricing policy henceforth
Premium Price Pricing Customer service
Billy Christian Tanoyo 01120120097 1.External Marketing : "Setting the Promise" · Marketing to END-USERS. · Involves pricing strategy‚ promotional activities‚ and all communication with customers. · Performed to capture the attention of the market‚ and arouse interest in the service. Ex = Four Seasons Hotels and Resorts start by hiring the right people and carefully orienting and inspiring them to give unparalleled customer service. Internal Marketing : "Enabling the Promise" · Marketing
Premium Marketing Pricing
of a firm‚ and not arrived at through negotiations between a buyer and a seller. Most retail and industrial prices are administered prices‚ which are then adjusted in response to the competitors ’ prices. Administered pricing is also referred to as rigid pricing.or inflexible pricing refers to the setting up of prices by public or private entity and not by market forces.Price set by the management of a firm‚ and not arrived at through negotiations between a buyer and a seller. Most retail and industrial
Premium Pricing Competition Petroleum
the demand of air travelling is increasing quickly leads to the appearance of many low cost carriers which focus on popular class. This had made huge changes in the original service and pricing strategy. Easyjet is one of the most successful low-fare airlines in the World‚ which has a noticeable measure of pricing it product. “Price” is one of the “four Ps” in marketing mix but its role is different from the other Ps: “promotion”‚ “product” and “place”. By studying about the comparison between
Premium Airline London Gatwick Airport Low-cost carrier
Price Sensitivity Model In the 1970s‚ Dutch economist Peter H. van Westendorp introduced a simple method to assess consumers’ price perception. It is based on the premise that there is a range of prices bounded bya maximum that a consumer is prepared to spend and a minimum below which credibility is indoubt. The Price Sensitivity Meter (sometimes called the Price Sensitivity Measurement) is based on respondents’ answers to four price-related questions. A simple and easily executable
Premium Pricing Marketing
Computer is a pioneer in the manufacture of optical laptops and has done extensive research and developed an optical notebook which is almost five times faster than traditional chip-based computers. In this paper‚ this writer creates a set of pricing and non-pricing strategies designed to enable Acer to maximize its economic profits in different market structures. This writer also discusses how Acer could justify investment in technology‚ research and development‚ and economic efficiency to maximize its
Premium Pricing Marketing
determine strategy on pricing‚ operations‚ risk‚ investments and production. The overall role of managerial economics is to increase the efficiency of decision making in businesses to increase profit. ROLE OF MANAGERIAL ECONOMICS Pricing * Managerial economics assists businesses in determining pricing strategies and appropriate pricing levels for their products and services. Some common analysis methods are price discrimination‚ value-based pricing and cost-plus pricing. Elastic vs. Inelastic
Premium Economics Microeconomics Pricing