Recap of 16 th nov,2011

On 16^th nov 2011,we discussed about selecting the Pricing Objective:-
1. Survival
2. Maximum Current Profit
3. Maximum Market Share
4. Maximum Marketing Skimming

we discussed Product Mix Pricing Strategy

The strategies of setting the price for a product when the product is part of product mix.

pricing is one of the most important elements of the marketing mix and has the most effect on whether or not the strategy is successful.

1.Market Skimming Pricing

Companies interested in profitable sale set initially high price for a product to skim maximum revenue from the segments which is willing to pay high price and then slowly move to low price.

2Market Penetration Pricing

Companies interested in large market share set low price for a product in order to attract large number of customer.

3.Product line pricing

Product line pricing (PLP) is a pricing strategy used to sell different products in the same product range at different price points based on features or benefits.

Example
Product line pricing is seen from gas pumps to car dealerships and from ice cream shops to fast food restaurants. A basic car wash may be shown as one price, a super wash with wash and wax will cost a little more, and a full-service premium wash will be the most expensive.

2. Price Discrimination

The practice of selling a specific product at more than one price when the price differences are not justified by cost differences.

Example Age based pricing such as charging less for a child's ticket to a movie theatre/amusement park than an adult.

Universities charging more for out-of-state residents.

A doctor charging for services based on patients income.

4.Optional Product Pricing

It’s the pricing of the main product with the accessories or optional product for example car with power window CD changer and car without power window and CD changer.

5.Captive Product Pricing

Pricing of the product which must be used with the main product for example films must be use with VCR, CD must be use with CD player etc.

6.Product Bundle Pricing

Making the bundle of different product and price the bundle at a reduce price. It is basically for selling the slow moving items.

7..by-product pricing Setting the price for by-products in order to make the price of the main product more competitive. For example, in producing processed meats, chemicals.

8.going rate pricing

establishing the price for a product or service based on prevalent market prices. This is most common with products that do not vary much from one supplier to another, like steel or fresh meat.

We also discussed a very important topic regarding protection of the environment and that is the green marketing concept

WHAT IS GREEN MARKETING?

green marketing is the marketing of products that are presumed to be environmentally safe.

Green marketing can be defined as, "All activities designed to generate and facilitate any exchange intended to satisfy human needs or wants such that satisfying of these needs and wantsoccur with minimal detrimental input on the national environment."

Why Green Marketing?

As resources are limited and human wants are unlimited, it is important for the marketers toutilize the resources efficiently without waste as well as to achieve the organization's objective.So green marketing is inevitable.

Examples of green marketing in ndian context

1. Recently launched Samsung solar mobile guru.3. Battery operated L.G TV.4.

2. 2.Introduction of C.N.G in Delhi.

PARTICIPANT

SADAF JAMAL