MANAGEMENT OF MARKETING PRICING STRATEGIES

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "MANAGEMENT OF MARKETING PRICING STRATEGIES"

Transcription

1 MANAGEMENT OF MARKETING PRICING STRATEGIES

2 LEARNING INTENTIONS/SUCCESS CRITERIA LEARNING INTENTIONS: SUCCESS CRITERIA: I understand the role of PRICING as part of the marketing activities of an organisation. I can explain the factors which will influence the price at which an organisation sells its products. I can describe the different pricing strategies available for businesses to use. I can suggest appropriate pricing strategies for different products

3 Why is Price Important? If a business sets the wrong price for its goods or services, they run the risk of losing customers or not attracting customers in the first place. If they set the price too high customers may go to a competitor to get better value for money. If they set the price too low the business may not make enough profit to survive.

4 Factors which Influence Price Before a business sets its selling price there are many factors which they must consider, such as: The stage of the product life cycle Competitors prices The cost to provide the good or service The level of profit wanted The quantity of good or service to be supplied The market segment that is being targeted

5 Factors which Influence Price PRODUCT LIFE CYCLE Goods and services at the beginning of the product life cycle are usually priced higher as the demand is high and research and development costs have to be recovered. As demand for a good or service falls, the price falls Too and when goods are in the Decline Stage, prices will be at their lowest to encourage sales.

6 Factors which Influence Price COMPETITORS PRICES A business must always keep an eye on the price being charged by competitors as if their price is higher than competitors they may lose customers.

7 Factors which Influence Price COSTS A business must cover its costs in order to break-even. This means that costs must be calculated carefully and selling price set at a level which covers these and gives a percentage of profit too.

8 Factors which Influence Price LEVEL OF PROFIT REQUIRED If profit is an objective for the business, then higher prices may have to be charged to achieve this. However, this is not a consideration for businesses in the Public and Third Sectors.

9 Factors which Influence Price QUANTITY TO BE SUPPLIED Goods and services that are not provided in large quantities will be priced higher than those that are mass produced.

10 Factors which Influence Price MARKET SEGMENT If the market segment being targeted is high income groups, goods and services will be highly priced to indicate quality and luxury. On the other hand if low income groups are being targeted, lower prices will be charged eg supermarket own brands.

11 PRICING STRATEGIES There are many pricing techniques that businesses can use. The technique used will depend of the power of the business within the market in which it operates. The most common techniques are: COST-PLUS PRICING DESTROYER PRICING LOSS LEADERS PREMIUM PRICING PENETRATION PRICING PRICE SKIMMING

12 PRICING STRATEGIES COST-PLUS PRICING: This is when the business bases its price on the cost of buying or making the product or providing a service, plus a mark up percentage to give profit. DESTROYER PRICING: This is when a business sets its prices very low, often running at a loss in the short term. This is used to destroy the competition and become the market leader.

13 PRICING STRATEGIES LOSS LEADERS: This is when a product is sold at a loss to attract customers to buy other full-priced products eg fuel sold by supermarkets. PREMIUM PRICING: This is where a high price is charged to convince consumers that the product is an up-market, luxury product. This will be reinforced through advertising and promotion. Selling less at a higher price may be more profitable than selling more at a lower

14 PRICING STRATEGIES PENETRATION PRICING: This is when new products are offered at low prices when entering a new market and once customer loyalty has been built up, prices are increased. This is a risky strategy as customers may not think that the higher price is value for money after paying such a low price initially.

15 PRICING STRATEGIES PRICE SKIMMING: This is when a business charges a high price initially and then subsequently lowers its price. This technique will be used by businesses who are market leaders where there is no competition for the product or service being provided eg new technology products. They will lower the price once competitors enter the market.

16 TASK Now try Worksheet 28.

Bingo glossary marketing mix

Bingo glossary marketing mix Bingo glossary marketing mix The management process which identifies customer wants, anticipates their future wants and then goes about satisfying them profitably. Where the market has been divided up

More information

Business and Economics Applications

Business and Economics Applications Business and Economics Applications Most of the word problems you do in math classes are not actually related to real life. Textbooks try to pretend they are by using real life data, but they do not use

More information

Skills Knowledge Energy Time People and decide how to use themto accomplish your objectives.

Skills Knowledge Energy Time People and decide how to use themto accomplish your objectives. Chapter 8 Selling With a Strategy Strategy Defined A strategy is a to assemble your resources Skills Knowledge Energy Time People and decide how to use themto accomplish your objectives. In selling, an

More information

ADVANCED SUBSIDIARY (AS) General Certificate of Education 2012. Business Studies Assessment Unit AS 1. assessing. The Competitive Business [AT111]

ADVANCED SUBSIDIARY (AS) General Certificate of Education 2012. Business Studies Assessment Unit AS 1. assessing. The Competitive Business [AT111] ADVANCED SUBSIDIARY (AS) General Certificate of Education 2012 Business Studies Assessment Unit AS 1 assessing The Competitive Business [AT111] THURSDAY 14 JUNE, AFTERNOON MARK SCHEME 7422.01 1 (a) Explain

More information

MARKETING II Lecture 4: Price

MARKETING II Lecture 4: Price MARKETING II Lecture 4: Price Celine Abecassis-Moedas FCEE-UCP 1 Introduction and definition Price is the amount of money charged for a product or service, or the sum of the values that consumers exchange

More information

Activity 28.1 (page 509): Types of costs. Business Indirect cost Explanation. digger

Activity 28.1 (page 509): Types of costs. Business Indirect cost Explanation. digger 28Costs Activity 28.1 (page 509): Types of costs 1 Identify one indirect cost for each of these businesses: a building firm a high-street bank a TV repairer an oil-fired power station. [4] 2 Explain why

More information

PRACTICE EXAM QUESTIONS ON OPTIONS

PRACTICE EXAM QUESTIONS ON OPTIONS PRACTICE EXAM QUESTIONS ON OPTIONS 1. An American put option allows the holder to: A) buy the underlying asset at the strike price on or before the expiration date. B) sell the underlying asset at the

More information

General Certificate of Secondary Education January 2013. Business Studies. (Specification 4133) Unit 1: Setting up a Business.

General Certificate of Secondary Education January 2013. Business Studies. (Specification 4133) Unit 1: Setting up a Business. General Certificate of Secondary Education January 2013 Business Studies 413001 (Specification 4133) Unit 1: Setting up a Business Mark Scheme Mark schemes are prepared by the Principal Examiner and considered,

More information

HOW TO SUCCEED WITH NEWSPAPER ADVERTISING

HOW TO SUCCEED WITH NEWSPAPER ADVERTISING HOW TO SUCCEED WITH NEWSPAPER ADVERTISING With newspaper advertising, Consistent Advertising = Familiarity = Trust = Customers. People won t buy from you until they trust you! That trust and confidence

More information

Pricing decisions and profitability analysis

Pricing decisions and profitability analysis Pricing decisions and profitability analysis Solutions to Chapter 11 questions Question 11.24 (a) (b) Computation of full costs and budgeted cost-plus selling price EXE WYE Stores Maintenance Admin ( m)

More information

Week 1: Futures, Forwards and Options derivative three Hedge: Speculation: Futures Contract: buy or sell

Week 1: Futures, Forwards and Options derivative three Hedge: Speculation: Futures Contract: buy or sell Week 1: Futures, Forwards and Options - A derivative is a financial instrument which has a value which is determined by the price of something else (or an underlying instrument) E.g. energy like coal/electricity

More information

THE TIMES 100. Marketing mix lesson suggestions & activities (McCain)

THE TIMES 100. Marketing mix lesson suggestions & activities (McCain) Marketing mix lesson suggestions & activities (McCain) Lesson objectives By the end of the lesson students should be able to: Know the different elements of the marketing mix and understand the influences

More information

the combination of varying methods and strategies to get your into the minds and hands of prospective buyers. Marketing is

the combination of varying methods and strategies to get your into the minds and hands of prospective buyers. Marketing is Marketing for Growth Wayne Brass Art Mahoney Bill McKown Heather Bender the combination of varying methods and strategies to get your product or service into the minds and hands of prospective buyers.

More information

A target cost is arrived at by identifying the market price of a product and then subtracting a desired profit margin from it.

A target cost is arrived at by identifying the market price of a product and then subtracting a desired profit margin from it. Answers Fundamentals Level Skills Module, Paper F5 Performance Management June 2015 Answers Section A 1 C Divisional profit before depreciation = $2 7m x 15% = $405,000 per annum. Less depreciation = $2

More information

Executive Cover Memo. The Allround brand is in a favorable position, but the cold medicine is also becoming a

Executive Cover Memo. The Allround brand is in a favorable position, but the cold medicine is also becoming a Executive Cover Memo The Allround brand is in a favorable position, but the cold medicine is also becoming a cash cow. I believe that Allround needs to increase its unit sales with both grocery stores

More information

Checklists for Going into Business

Checklists for Going into Business Checklists for Going into Business Modified by NCF: October 2003 Checklists for Going into Business Summary Thinking of owning and managing your own business? It s a good idea provided you know what it

More information

Chapter 6 Competitive Markets

Chapter 6 Competitive Markets Chapter 6 Competitive Markets After reading Chapter 6, COMPETITIVE MARKETS, you should be able to: List and explain the characteristics of Perfect Competition and Monopolistic Competition Explain why a

More information

Competitive Environment Five Forces

Competitive Environment Five Forces Competitive Environment Five Forces Porter s Five Forces Devised by Michael Porter A framework for analysing the nature of competition within an industry Every industry is different Size Structure Distribution

More information

Published Mark Schemes for GCE AS Business Studies. January 2009

Published Mark Schemes for GCE AS Business Studies. January 2009 Published Mark Schemes for GCE AS Business Studies January 2009 Issued: April 2009 NORTHERN IRELAND GENERAL CERTIFICATE OF SECONDARY EDUCATION (GCSE) AND NORTHERN IRELAND GENERAL CERTIFICATE OF EDUCATION

More information

Small Business Grants Marketing info checklist

Small Business Grants Marketing info checklist Small Business Grants Marketing info checklist Prepared by Helen Ward Director ClientEdge and past City of Melbourne assessment panel member The following information is provided to guide you to complete

More information

You might be surprised to know that the word T-shirt wasn t really used until

You might be surprised to know that the word T-shirt wasn t really used until Hot Shirts Using Tables, Graphs, and Equations, Part 2 Learning Goals In this lesson, you will: Use different methods to represent a problem situation. Estimate values of expressions that involve decimals.

More information

*X234/301* X234/301 BUSINESS MANAGEMENT HIGHER NATIONAL QUALIFICATIONS 2011 WEDNESDAY, 25 MAY 1.00 PM 3.30 PM

*X234/301* X234/301 BUSINESS MANAGEMENT HIGHER NATIONAL QUALIFICATIONS 2011 WEDNESDAY, 25 MAY 1.00 PM 3.30 PM X2/01 NATIONAL QUALIFICATIONS 2011 WEDNESDAY, 2 MAY BUSINESS 1.00 PM.0 PM MANAGEMENT HIGHER Candidates should attempt all questions in Section One and two questions from Section Two. Read all the questions

More information

BUSINESS OCR LEVEL 3 CAMBRIDGE TECHNICAL. Cambridge TECHNICALS INTRODUCTION TO MARKETING CERTIFICATE/DIPLOMA IN Y/502/5411 LEVEL 3 UNIT 3

BUSINESS OCR LEVEL 3 CAMBRIDGE TECHNICAL. Cambridge TECHNICALS INTRODUCTION TO MARKETING CERTIFICATE/DIPLOMA IN Y/502/5411 LEVEL 3 UNIT 3 Cambridge TECHNICALS OCR LEVEL 3 CAMBRIDGE TECHNICAL CERTIFICATE/DIPLOMA IN BUSINESS INTRODUCTION TO MARKETING Y/502/5411 LEVEL 3 UNIT 3 GUIDED LEARNING HOURS: 60 UNIT CREDIT VALUE: 10 INTRODUCTION TO

More information

Chapter 4. Feasibility Analysis

Chapter 4. Feasibility Analysis Chapter 3 Feasibility Analysis This table explains which sections of the Plan are completed in each chapter of the toolkit: Toolkit Chapters: Chapter 1 Chapter 2 Chapter 3 Chapter 4 Plan Section Titles:

More information

Table of Contents. Introduction Consumers Want Social Proof Before Making a Purchase... 5

Table of Contents. Introduction Consumers Want Social Proof Before Making a Purchase... 5 1 Table of Contents Introduction... 3 Consumers Want Social Proof Before Making a Purchase... 5 Increases Brand Awareness and Positive Online Visibility... 7 If You Don t Control Your Online Brand, Someone

More information

FREE ENTERPRISE TEST

FREE ENTERPRISE TEST FREE ENTERPRISE TEST Multiple choice. Select the best answer to the question. 1. What is an entrepreneur? A. Someone who invests time and money to start a business. B. Someone who makes a lot of money.

More information

Barco Marketing Case Analysis

Barco Marketing Case Analysis Barco Marketing Case Analysis I. Position Statement: Over the past few months, many events have led Barco Projection Systems to be confronted with an important decision: Barco needs to continue its development

More information

0450 BUSINESS STUDIES

0450 BUSINESS STUDIES CAMBRIDGE INTERNATIONAL EXAMINATIONS International General Certificate of Secondary Education MARK SCHEME for the May/June 2014 series 0450 BUSINESS STUDIES 0450/12 Paper 1 (Short Answer/Structured Response),

More information

Urban Community Energy Fund Getting your project investment ready

Urban Community Energy Fund Getting your project investment ready Urban Community Energy Fund Getting your project investment ready What is investment readiness, and why does it matter? Investment readiness is when your project is at the right stage to secure a bank

More information

GCSE Business Studies

GCSE Business Studies GCSE Business Studies Unit 2: Investigating small business Controlled Assessment 25% of final grade Name Teacher Page 1 of 15 GCSE BUSINESS STUDIES UNIT 2: Investigating small business CONTROLLED ASSESSMENT

More information

P2 Performance Management November 2014 examination

P2 Performance Management November 2014 examination Management Level Paper P2 Performance Management November 2014 examination Examiner s Answers Note: Some of the answers that follow are fuller and more comprehensive than would be expected from a well-prepared

More information

Using ProfitSourcery for the First Time: Our Hints & Tips

Using ProfitSourcery for the First Time: Our Hints & Tips Using ProfitSourcery for the First Time: Our Hints & Tips 0 All rights reserved. Permission granted to reproduce for ProfitSourcery client use only. Commercial copying, hiring, lending is prohibited. With

More information

Name: Date: Economics Stock Market Extra Credit Project. Overview

Name: Date: Economics Stock Market Extra Credit Project. Overview Name: Date: Economics Stock Market Extra Credit Project Introduction Overview The Stock Market Project will be an opportunity for students to learn about and explore the stock market while trying to create

More information

Chapter 5: Markup & Markdown

Chapter 5: Markup & Markdown HOSP 1107 (Business Math) Learning Centre Chapter 5: Markup & Markdown MARKUP Businesses buy products at a cost price and then markup the products to cover the expenses (overhead) of running the business

More information

The Free Market Approach. The Health Care Market. Sellers of Health Care. The Free Market Approach. Real Income

The Free Market Approach. The Health Care Market. Sellers of Health Care. The Free Market Approach. Real Income The Health Care Market Who are the buyers and sellers? Everyone is a potential buyer (consumer) of health care At any moment a buyer would be anybody who is ill or wanted preventive treatment such as a

More information

RANGING RETAILING CUSTOMER-FIRST. The Economics of Customer-Oriented Product Ranging Decisions

RANGING RETAILING CUSTOMER-FIRST. The Economics of Customer-Oriented Product Ranging Decisions CUSTOMER-FIRST RETAILING GROWING RETAIL SALES WITH CUSTOMER CENTRIC STRATEGIES By Jason Nathan Executing effective category management is central to any successful retailer. Whether being managed for efficiency,

More information

CHAPTER 3. Arbitrage and Financial Decision Making. Chapter Synopsis

CHAPTER 3. Arbitrage and Financial Decision Making. Chapter Synopsis CHAPTER 3 Arbitrage and Financial Decision Making Chapter Synopsis 3.1 Valuing Decisions When considering an investment opportunity, a financial manager must systematically compare the costs and benefits

More information

2015 in Architecture employment was a year of change, a positive one. But what does 2016 hold for employees and employers alike?

2015 in Architecture employment was a year of change, a positive one. But what does 2016 hold for employees and employers alike? ARCHITECTURE SALARY & EMPLOYMENT REVIEW January 2016 2015 in Architecture employment was a year of change, a positive one. But what does 2016 hold for employees and employers alike? Opportunities, challenges

More information

The Mathematics 11 Competency Test Percent Increase or Decrease

The Mathematics 11 Competency Test Percent Increase or Decrease The Mathematics 11 Competency Test Percent Increase or Decrease The language of percent is frequently used to indicate the relative degree to which some quantity changes. So, we often speak of percent

More information

Introduction to Agricultural Economics

Introduction to Agricultural Economics Introduction to Agricultural Economics Economics examines: how scarce resources are allocated. how firms maximize profits. how market competition affects firms and consumers. the limitations of markets.

More information

Tips for Avoiding Bad Financial Advice

Tips for Avoiding Bad Financial Advice Tips for Avoiding Bad Financial Advice This guide is a free public service from Paladin Registry. It contains information that will increase your awareness about issues that concern advisors and help you

More information

3.3 Applications of Linear Functions

3.3 Applications of Linear Functions 3.3 Applications of Linear Functions A function f is a linear function if The graph of a linear function is a line with slope m and y-intercept b. The rate of change of a linear function is the slope m.

More information

OVERVIEW. 2. If demand is vertical, demand is perfectly inelastic. Every change in price brings no change in quantity.

OVERVIEW. 2. If demand is vertical, demand is perfectly inelastic. Every change in price brings no change in quantity. 7 PRICE ELASTICITY OVERVIEW 1. The elasticity of demand measures the responsiveness of 1 the buyer to a change in price. The coefficient of price elasticity is the percentage change in quantity divided

More information

Why Your Local Business Needs a Website

Why Your Local Business Needs a Website Why Your Local Business Needs a Website Let's face it; times have changed and the way people look for new products and services has changed. Think about it when was the last time you picked up a phone

More information

INDIVIDUAL LIFE INSURANCE

INDIVIDUAL LIFE INSURANCE INDIVIDUAL LIFE INSURANCE NOT INSURED BY FDIC OR ANY FEDERAL GOVERNMENT AGENCY INSURANCE PRODUCTS: MAY LOSE VALUE NOT A DEPOSIT OF OR GUARANTEED BY ANY BANK OR ANY BANK AFFILIATE FDIC BANK Table of Contents

More information

03.05 Marginal Cost and Revenue Text Version

03.05 Marginal Cost and Revenue Text Version 1 of 6 11/21/2014 2:38 PM 03.05 Marginal Cost and Revenue Text Version Slide 1: Slide 2 Slide 3: Slide 4: Slide 5: Slide 6: Slide 7: Audio: Using marginal cost analysis, a business owner can determine

More information

Formulas Help You Decide When to Hold, When to Sell

Formulas Help You Decide When to Hold, When to Sell The Business Library Resource Report #37 Formulas Help You Decide When to Hold, When to Sell Answers Tough Investment Questions! Short-Term vs. Long-Term Tax Rates! How to Compute Breakeven on Making Short-Term

More information

Understanding Options: Calls and Puts

Understanding Options: Calls and Puts 2 Understanding Options: Calls and Puts Important: in their simplest forms, options trades sound like, and are, very high risk investments. If reading about options makes you think they are too risky for

More information

Effective Marketing Solutions for your Small Business

Effective Marketing Solutions for your Small Business COMMUNITY TECHNOLOGY CENTER PASSAIC COUNTY COMMUNITY COLLEGE Teacher: Lucia Gheorghiu Effective Marketing Solutions for your Small Business Ideas for Today and Tomorrow Dr. Lucia Gheorghiu 1 Effective

More information

Marketing your business

Marketing your business Marketing your business Business COACH series For the size of your business How to get started A step-by-step guide Business Coach series Marketing for enhanced profits Simply stated, marketing encompasses

More information

Want to Buy a Construction Company?

Want to Buy a Construction Company? Why Would Anyone Want to Buy a Construction Company? If You re Thinking of Selling Your Company or Buying Your Competitor, You Need to Read This Article By Hugh L. Rice and Andrew W. Arnold Acquisitions

More information

GUIDELINES FOR WRITING A VIABLE BUSINESS PLAN

GUIDELINES FOR WRITING A VIABLE BUSINESS PLAN GUIDELINES FOR WRITING A VIABLE BUSINESS PLAN The Franklin Business Incubator 600 N. Mechanic Street, Suite 301 Franklin, VA 23851 757-562-1958 info@franklinsouthamptonva.com 1 EXECUTIVE SUMMARY Your executive

More information

Two Hour Business Plan Client Workbook

Two Hour Business Plan Client Workbook Two Hour Business Plan Client Workbook The key to the success of any business is to have goals and a plan that outlines how you are going to achieve those goals. You then need to regularly track the performance

More information

Chapter 5. Currency Derivatives. Lecture Outline. Forward Market How MNCs Use Forward Contracts Non-Deliverable Forward Contracts

Chapter 5. Currency Derivatives. Lecture Outline. Forward Market How MNCs Use Forward Contracts Non-Deliverable Forward Contracts Chapter 5 Currency Derivatives Lecture Outline Forward Market How MNCs Use Forward Contracts Non-Deliverable Forward Contracts Currency Futures Market Contract Specifications Trading Futures Comparison

More information

Chapter 5 Applications of Supply and Demand

Chapter 5 Applications of Supply and Demand 1. Elasticity of Demand (E d ) Chapter 5 Applications of Supply and Demand Measures the responsiveness of Q d to a change in price. How much does Q d change (%) when P changes (%)? We can use a formula

More information

Shares Mutual funds Structured bonds Bonds Cash money, deposits

Shares Mutual funds Structured bonds Bonds Cash money, deposits FINANCIAL INSTRUMENTS AND RELATED RISKS This description of investment risks is intended for you. The professionals of AB bank Finasta have strived to understandably introduce you the main financial instruments

More information

Chapter 12. Investing in the Stock Market. The Indexing Alternative. The Performance of Active and Passive Funds

Chapter 12. Investing in the Stock Market. The Indexing Alternative. The Performance of Active and Passive Funds Chapter 12 Investing in the Stock Market Most investors, both institutional and individual, will find the best way to own common stocks is through an index fund that charges minimal fees. Warren Buffet

More information

Marketing Planning Guru

Marketing Planning Guru This Chapter is a sample of Marketing Planning Guru e-book; which is copyrighted by Mohammed Magdy; the Author of the book, and the Founder & CEO of howtobeamarketer.com Special note: some of the hyper-links

More information

Cost-Volume-Profit Analysis

Cost-Volume-Profit Analysis Cost-Volume-Profit Analysis Cost-volume-profit (CVP) analysis is used to determine how changes in costs and volume affect a company's operating income and net income. In performing this analysis, there

More information

The Concept of Present Value

The Concept of Present Value The Concept of Present Value If you could have $100 today or $100 next week which would you choose? Of course you would choose the $100 today. Why? Hopefully you said because you could invest it and make

More information

Savings bonds: Should you buy now or later?

Savings bonds: Should you buy now or later? NET GAIN Scoring points for your financial future AS SEEN IN USA TODAY OCTOBER 25, 2005 Savings bonds: Should you buy now or later? You might get a better deal if you buy before rate changes Nov. 1 or

More information

FREQUENTLY ASKED YOUR QUESTIONS

FREQUENTLY ASKED YOUR QUESTIONS FREQUENTLY ASKED YOUR QUESTIONS GUIDE (FAQS) TO Q. What is a Pay As You Go (PAYG) meter? A. It s a smart meter set up in PAYG mode, which lets you pay for your energy as you use it. The meter is linked

More information

Chapter 7: Market Structures Section 1

Chapter 7: Market Structures Section 1 Chapter 7: Market Structures Section 1 Key Terms perfect competition: a market structure in which a large number of firms all produce the same product and no single seller controls supply or prices commodity:

More information

Terminology and Scripts: what you say will make a difference in your success

Terminology and Scripts: what you say will make a difference in your success Terminology and Scripts: what you say will make a difference in your success Terminology Matters! Here are just three simple terminology suggestions which can help you enhance your ability to make your

More information

Marketing is the management process that identifies, anticipates and satisfies customer requirements profitably The Chartered Institute of Marketing

Marketing is the management process that identifies, anticipates and satisfies customer requirements profitably The Chartered Institute of Marketing What is Marketing? There are a number of different definitions: Marketing is the management process that identifies, anticipates and satisfies customer requirements profitably The Chartered Institute of

More information

Tools and techniques Ansoff s matrix

Tools and techniques Ansoff s matrix Tools and techniques Ansoff s matrix Its four strategic options, below, for corporate growth, (see above) are briefly explained by Professor McDonald: Market penetration 1. Of the four strategic options

More information

Amica Insurance Marketing Strategy. Amica has consistently been rated one of the top insurance companies in the United

Amica Insurance Marketing Strategy. Amica has consistently been rated one of the top insurance companies in the United Amica Insurance Marketing Strategy Amica has consistently been rated one of the top insurance companies in the United States. The power of the company and its financial strength is well represented in

More information

Business Plan !!!!!!!!!!!!"#$%&'%()*+,$**% % -&,."/.%!"#$%! 0112$**%! 3$4$56&,$%!)#7$2%! 8&7+4$%!)#7$2%! 9#"+4%! :$7*+.$%! !!!!!!!!! ! "!

Business Plan !!!!!!!!!!!!#$%&'%()*+,$**% % -&,./.%!#$%! 0112$**%! 3$4$56&,$%!)#7$2%! 8&7+4$%!)#7$2%! 9#+4%! :$7*+.$%! !!!!!!!!! ! ! Business Plan "#$%&'%()*+,$**% % -&,."/.%"#$% 0112$**% % 3$4$56&,$%)#7$2% 8&7+4$%)#7$2% 9#"+4% :$7*+.$% " MISSION STATEMENT Short term aims 1 to 2 years Long term objectives 2 to 5 years Customers Products

More information

Should You Use a Free Server for Hosting Your Site?

Should You Use a Free Server for Hosting Your Site? From the SelectedWorks of February, 2012 Should You Use a Free Server for Hosting Your Site? Available at: http://works.bepress.com/umakant_mishra/103/ Should you use a Free Server for hosting your site?

More information

Collaborative CRM Workshop. 02 Partner Alignment & Project Objectives

Collaborative CRM Workshop. 02 Partner Alignment & Project Objectives Collaborative CRM Workshop 02 Partner Alignment & Project Objectives 1 Collaborative CRM 2005 02 Partner Alignment & Project Objectives Copyright ECR Europe 2005. All rights reserved. Version 7.0 June

More information

Economic Resources and Systems

Economic Resources and Systems Chapter 2 Economic Resources and Systems Section 2.2 Economic Systems Click here to advance to the next slide. Read to Learn Describe the three basic economic questions each country must answer to make

More information

100 Marketing & Sales Ratios.

100 Marketing & Sales Ratios. 24 100 100 Marketing & Sales Ratios Authors Preface Dear Readers Successful management of a company requires information which shows whether decisions have brought about the intended results. Therefore,

More information

Because of inherent tradeoffs between marketing mix elements, pricing will depend on other product, distribution, and promotion decisions.

Because of inherent tradeoffs between marketing mix elements, pricing will depend on other product, distribution, and promotion decisions. 10. Pricing Strategy One of the four major elements of the marketing mix is price. Pricing is an important strategic issue because it is related to product positioning. Furthermore, pricing affects other

More information

5 STEPS TO Identifying Your Profitable Target Audience PUBLISHED BY

5 STEPS TO Identifying Your Profitable Target Audience PUBLISHED BY 5 STEPS TO Identifying Your Profitable Target Audience PUBLISHED BY You know that profiling your target audience is the best business practice... BUT WHY? Even children try to identify the right audience

More information

Partnering with you to buy your home or investment property. Buying an Investment property

Partnering with you to buy your home or investment property. Buying an Investment property Partnering with you to buy your home or investment property Buying an Investment property Buying an investment property Investment property expenses To run a successful rental property you ll need a detailed

More information

Growing your business with AdWords. Follow our tips and watch your AdWords account flourish

Growing your business with AdWords. Follow our tips and watch your AdWords account flourish Growing your business with AdWords Follow our tips and watch your AdWords account flourish Welcome to Growing your business with AdWords, a guide to help you ensure you get the best results for your business

More information

UNDERSTANDING PRICING

UNDERSTANDING PRICING UNDERSTANDING PRICING Price is not just a number on a tag or an item. A) Throughout most of history prices were set by negotiation between buyers and sellers. B) Setting one price for all buyers is a relatively

More information

Trading Basics Series

Trading Basics Series Trading Basics Series HOW DO I TRADE STOCKS.COM Copyright 2011 Trading Basics Series USING MARGIN Margin: Borrowing Money To Pay for Stocks Margin is an incredibly cheap way to borrow money from your broker

More information

Journal of tourism STRATEGIC MARKETING MANAGEMENT IN TOURISM

Journal of tourism STRATEGIC MARKETING MANAGEMENT IN TOURISM Journal of tourism STRATEGIC MARKETING MANAGEMENT IN TOURISM Associate Prof. Ph.D. Karolina ILIESKA, Faculty of Economics-Prilep, Macedonia Abstract This paper presents the relationship between the level

More information

ACCOUNTING: DO YOU GUIDE OR DO YOU JUST TEACH?

ACCOUNTING: DO YOU GUIDE OR DO YOU JUST TEACH? ACCOUNTING: DO YOU GUIDE OR DO YOU JUST TEACH? Your role in the teaching of Accounting should be to guide the learners to discover. This is a much better option than to teach the learners to do. This is

More information

1-1 Rates. Find the unit rate. Round to the nearest hundredth if necessary miles in 6 hours SOLUTION: The unit rate is 60 miles per hour.

1-1 Rates. Find the unit rate. Round to the nearest hundredth if necessary miles in 6 hours SOLUTION: The unit rate is 60 miles per hour. Find the unit rate. Round to the nearest hundredth if necessary. 1. 360 miles in 6 hours 4. $7.40 for 5 pounds The unit rate is $1.48 per pound. The unit rate is 60 miles per hour. 60 mi/h 2. 6,840 customers

More information

Product Development: - Loan pricing

Product Development: - Loan pricing Product Development: - Loan pricing October 2008 Peter Njuguna Deputy Program Director WOCCU SACCO Cap Project Nairobi, Kenya Course objectives Identify the two ways a SACCO can charge for loans. Recognize

More information

National Diploma in Sales Management Stage I October 04 th, 2015 Examination

National Diploma in Sales Management Stage I October 04 th, 2015 Examination National Diploma in Sales Management Stage I October 04 th, 2015 Examination Candidate s Registration Number (As per in the examination admission form / Student ID) 0 0 0 0 0 For Examiner s use only Part

More information

3.3 THE SALES PLAN. Prices And The Market. Pricing Strategies. Marketing Segmentation And The Marketing Mix. The Marketing Process

3.3 THE SALES PLAN. Prices And The Market. Pricing Strategies. Marketing Segmentation And The Marketing Mix. The Marketing Process 33 MARKET RESEARCH 3 THE SALES PLAN Prices And The Market Pricing Strategies Marketing Segmentation And The Marketing Mix The Marketing Process Sales And Finance In Marketing The Sales Plan Exercise -

More information

MANAGEMENT CASE STUDY PRACTICE EXAM ANSWERS

MANAGEMENT CASE STUDY PRACTICE EXAM ANSWERS MANAGEMENT CASE STUDY PRACTICE EXAM ANSWERS The Practice Exam can be viewed at http://www.pearsonvue.com/cima/practiceexams/ These answers have been provided by CIMA for information purposes only. The

More information

Kindle Publishing Step by Step Guide

Kindle Publishing Step by Step Guide Kindle Publishing Step by Step Guide Amazon s Kindle bookstore is one of the fastest growing platforms for getting your work out into the world. Digitally published content is Amazon s fastest growing

More information

pi beta phi values auction FRATERNITY VALUE: LIFELONG COMMITMENT SUGGESTED FACILITATOR: VICE PRESIDENT OF MEMBERSHIP

pi beta phi values auction FRATERNITY VALUE: LIFELONG COMMITMENT SUGGESTED FACILITATOR: VICE PRESIDENT OF MEMBERSHIP pi beta phi values auction FRATERNITY VALUE: LIFELONG COMMITMENT SUGGESTED FACILITATOR: VICE PRESIDENT OF MEMBERSHIP Goal: To allow participants to articulate which core values mean the most to them and

More information

Sales Promotion, Events, and Sponsorships. Chapter Outline. Key Points. Chapter 16

Sales Promotion, Events, and Sponsorships. Chapter Outline. Key Points. Chapter 16 Sales Promotion, Events, and Sponsorships Chapter 16 Chapter Outline I. Chapter Key Points II. The Practice of Sales Promotion III. Consumer Promotions IV. Trade Promotions V. Promotions that Cross the

More information

Paper F5. Performance Management 2013 ACCA INTERIM ASSESSMENT. Kaplan Publishing/Kaplan Financial. Time allowed Reading and planning: 15 minutes

Paper F5. Performance Management 2013 ACCA INTERIM ASSESSMENT. Kaplan Publishing/Kaplan Financial. Time allowed Reading and planning: 15 minutes ACCA INTERIM ASSESSMENT Performance Management 2013 Time allowed Reading and planning: 15 minutes Writing: 3 hours Paper F5 All FIVE questions are compulsory and MUST be attempted. The formulae are on

More information

Hedge Hog Trade Rules

Hedge Hog Trade Rules Hedge Hog Trade Rules Using Inverse correlation to decrease market exposure By: www.forextradersdaily.com Incomplete Draft Copy If you are reading this please note that the system is still in testing and

More information

7096 TRAVEL AND TOURISM

7096 TRAVEL AND TOURISM CAMBRIDGE INTERNATIONAL EXAMINATIONS Cambridge Ordinary Level MARK SCHEME for the October/November 2014 series 7096 TRAVEL AND TOURISM 7096/23 Paper 2 (Alternative to Coursework), maximum raw mark 100

More information

Introduction to E-Commerce. Revenue Models. Objectives. In this chapter, you will learn about:

Introduction to E-Commerce. Revenue Models. Objectives. In this chapter, you will learn about: Introduction to E-Commerce Revenue Models Objectives In this chapter, you will learn about: Revenue models How some companies move from one revenue model to another to achieve success Revenue strategy

More information

SALES & SALES MANAGEMENT TRAINING

SALES & SALES MANAGEMENT TRAINING SALES & SALES MANAGEMENT TRAINING Sales are the key to setting up and running a successful business. However, it is not sufficient just to have a passion for your particular product or service. You will

More information

Sales Training Programme. Module 8. Closing the sale workbook

Sales Training Programme. Module 8. Closing the sale workbook Sales Training Programme. Module 8. Closing the sale workbook Workbook 8. Closing the sale Introduction This workbook is designed to be used along with the podcast on closing the sale. It is a self learning

More information

Second Degree Price Discrimination - Examples 1

Second Degree Price Discrimination - Examples 1 Second Degree Discrimination - Examples 1 Second Degree Discrimination and Tying Tying is when firms link the sale of two individual products. One classic example of tying is printers and ink refills.

More information

Starbucks: Delivering Customer Service

Starbucks: Delivering Customer Service M512 MARKETING STRATEGY Starbucks: Delivering Customer Service Alkis Marangos I have neither given nor received unauthorized aid on this assignment 1. What factors accounted for the success of Starbucks

More information

COST THEORY. I What costs matter? A Opportunity Costs

COST THEORY. I What costs matter? A Opportunity Costs COST THEORY Cost theory is related to production theory, they are often used together. However, the question is how much to produce, as opposed to which inputs to use. That is, assume that we use production

More information

CHAPTER 11 PRODUCT STRATEGIES: BRANDING AND PACKAGING DECISIONS

CHAPTER 11 PRODUCT STRATEGIES: BRANDING AND PACKAGING DECISIONS CHAPTER 11 PRODUCT STRATEGIES: BRANDING AND PACKAGING DECISIONS MULTIPLE CHOICE 1. Which of the following cannot be used as a trademark? a) a word b) a name c) a symbol d) a device e) all of them can be

More information

Effective Brochure Design How To Create Brochures That Get Action

Effective Brochure Design How To Create Brochures That Get Action Professional Advertising Seriously Effective Print Advertising Effective Brochure Design How To Create Brochures That Get Action What is the purpose of your brochure? Is your brochure an advertisement?

More information

EXAMINING DIRECT & INTERACTIVE MARKETING APPLICATIONS IN A VARIETY OF SECTORS

EXAMINING DIRECT & INTERACTIVE MARKETING APPLICATIONS IN A VARIETY OF SECTORS 1 CHAPTER 14-2E EXAMINING DIRECT & INTERACTIVE MARKETING APPLICATIONS IN A VARIETY OF SECTORS Summary The applications of direct and interactive marketing are almost endless. This chapter has explored

More information