Establish pricing objectives and related strategies
Select pricing tactics
Set the exact price
Determine channel discounts and allowances
Execute price changes
Understand legal considerations in pricing
- Pricing objectives are the desired or expected result associated with a pricing strategy.
- Pricing objectives must be consistent with other marketing-related objectives (e.g., positioning and branding) as well as with the firm's overall objectives for doing business.
Penetration pricing
Price skimming
Profit maximization and target ROI
Competitor-based pricing
Stability pricing
Value pricing
- captive pricing
- price bundling
- reference pricing
- prestige pricing
- odd/even pricing
- one price and variable pricing
- EDLP and high/low pricing
- auction pricing
Cost-Plus Pricing/Markup on Cost
Markup on Sales Price
Average-Cost Pricing
Target Return Pricing
Cash Discounts
Quantity Discounts
Promotional Allowances
Trade Discounts
Seasonal Discounts
FOB pricing
Uniform delivered pricing
Zone pricing
A change in an offering’s price—either up or down—can dramatically impact the effectiveness of the overall marketing mix variables
Firms should conduct market research before changing price to judge customer perceptions
Just noticeable difference (JND) is the amount of price increase that can be taken without affecting customer demand
Price fixing
Price discrimination
Deceptive pricing
Predatory pricing
Fair trade and minimum markup laws
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