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CHAPTER 11 PRICING STRATEGY Strategic Role of Price Analyzing the Pricing Situation Selecting the Pricing Strategy Determining Specific Prices and Policies McGraw-Hill/Irwin Copyright © 2009 by The McGraw-Hill Companies, Inc. All rights reserved. Pricing Decisions are Creating Major Challenges for Many Companies Examples Include: Threats to major airlines by discount carriers. Pressures on drug companies to reduce prices. Intense price competition on supermarket chains by Wal-Mart and Costco. Aggressive discounting by U.S. automobile producers to retain market share. Threats to strong brands by counterfeit products. 11-3 STRATEGIC ROLE OF PRICE …requires that we put pricing at the beginning of the process. For example, a multi-part marketing strategy usually is required in value- based pricing. Airlines’ complicated service packages with arcane restrictions, and their multiple channels of distribution must support pricing that reflects different values of the service to different segments. Without such a strategy, airlines would capture a much smaller portion of the value they have the potential to create. T. Nagle, Marketing News, 11/9/98, 4. 11-4 Price in the Positioning Strategy Target market and objectives Positioning Strategy Product Value-Chain strategy strategy Pricing strategy Promotion strategy 11-5 Pricing Situations New product pricing Life cycle pricing Changing positioning strategy Countering competitive threats 11-6
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