The class started with the basic and important thought if reading newspaper and following Brand Equity (weekly supplement of The Economic Times) to get a brief weekly update of what is happening in the marketing industry.Another important learning was to respect the deadline. The deadline is a key factor which will help you to improve yourself and reach your target. It is a saying that after deadline you are dead.
We studied three kind of pricing stratergies followed by the seven studied in the previous class:
Target Brand Pricing: It means that the companies gives a certain target to its distributor's and once they achieve that certain target, the sale with each extra unit, profit margin keep on increasing. Amway is a great example for target based pricing.
Demand Based Pricing: Elasticity and in elasticity if demand effects all form of pricing.
Dependent Pricing: Its like a substitute good which we study in economics, If price one one commodity changes it will effect the sales of other good to. For eg: price of petrol and sale of car.
Geographical based pricing: The pricing of a product depends on a geographical factor. The area plays an important role. The price of liquor is much cheaper in Goa as compared to Maharashtra, because of the tax imposed the state government. Goa don't have much tax on liquor as it's economy majorly depends on tourism.
In he next class we will discuss Crown TV case.
By Kinshuk Sindhwani
We studied three kind of pricing stratergies followed by the seven studied in the previous class:
Target Brand Pricing: It means that the companies gives a certain target to its distributor's and once they achieve that certain target, the sale with each extra unit, profit margin keep on increasing. Amway is a great example for target based pricing.
Demand Based Pricing: Elasticity and in elasticity if demand effects all form of pricing.
Dependent Pricing: Its like a substitute good which we study in economics, If price one one commodity changes it will effect the sales of other good to. For eg: price of petrol and sale of car.
Geographical based pricing: The pricing of a product depends on a geographical factor. The area plays an important role. The price of liquor is much cheaper in Goa as compared to Maharashtra, because of the tax imposed the state government. Goa don't have much tax on liquor as it's economy majorly depends on tourism.
In he next class we will discuss Crown TV case.
By Kinshuk Sindhwani
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