question
Pricing
answer
Align w/ development, distribution, communication
question
4 key components of the price decisions process
answer
1. Pricing objectives
2. Demand determinants
3. Cost determinants
4. Competition (what are they charging)
2. Demand determinants
3. Cost determinants
4. Competition (what are they charging)
question
Three Principles of pricing strategy
answer
1. Value-based
2. Proactive
3. Profit-driven
2. Proactive
3. Profit-driven
question
Value-based pricing
answer
To what LEVEL does product create VALUE for a customer
question
Proactive pricing
answer
Anticipates how market/competitors may disrupt
question
Profit-Driven Pricing
answer
Seeks bottom line performances VERSUS revenues
question
Pricing objective - 3 Factors
answer
1. Return on investment
2. Market share (goals)
3. Competition
2. Market share (goals)
3. Competition
question
Demand Determinants
answer
How the customer places/perceives "value"
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