XIImarketing

 UNIT 2- SESSION 3: TYPES OF PRICING By:- Nagraj Sir Firms, in a competitive market aim at profit maximization and long term growth. For devising a unique pricing policy for their product they have to methodically analyse the market situations. Generally pricing can be put into following four categories- A. Demand-oriented pricing B. Cost-oriented pricing C. Competition-oriented pricing or market driven pricing D. Value- based pricing A. Demand-oriented pricing- When customer demand sets up the price of a product in the market, it is called Demand oriented pricing. There is an inverse relationship between the price and quantity demanded of a commodity. Higher is the price of a product, lower will be its demand and lower is the price of a product, higher will be its demand in a market. If demand of a commodity increases with respect to previous supply, its price increases, and if supply of a commodity increases with respect to previous demand, its price falls. It is termed as price ...

 UNIT 2- SESSION 2: FACTORS AFFECTING PRICING By:- Nagraj Sir The decisions related to price and pricing policies of a firm are affected by several factors present in marketing environment. A firm plans production keeping in view the customers' needs, market characteristics, competing firms, behaviour of suppliers and distributors for its product and certain legislative factors. These are studied under two categories- A. Internal factors B. External factors. A. Internal factors: Internal factors are the forces which are within the control of a firm up to certain extent. The firm can regulate and change these factors as per requirement 1. Objectives of the firm: A firm may have various objectives and pricing contributes in achieving them. Firms may pursue different objectives such as maximizing revenue, maximizing profit, maximizing market share or maximizing customer satisfaction. 2. Role of Top Management: The role of the marketing manager is to assist the top management in price...

 UNIT 2- SESSION1: MEANING AND IMPORTANCE OF PRICE By:- Nagraj Sir Price is one of the most important elements of the marketing mix. This is the only element which generates revenue for an organization and determines its growth. Meaning of Price-   The term price denotes money value of a product. It represents the amount of money that customers pay to the sellers to gain benefits of having or using a good or service Definition of Price-   The definition of Price according to Philip Kotler is- “Price is the amount of money charged for a product or service.” While setting prices for its products, i.e. goods or services, the business takes into account various aspects:- Price of raw material Cost of manufacturing  Market condition Competition in the market Brand and quality of product Objectives of Pricing As an element of the marketing-mix, a firm‟s pricing strategy should be directed towards the  achievement of specific marketing-...