• April 18th, 2016

5.4 Discussion

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Your course textbook presents a general pricing model,View in a new window which divides pricing strategy into a set of stages (Chapter 11 – Figure 11.1).

To further understand some of the interrelated terminology in pricing, refer to the Key Terms in Pricing StrategyPreview the documentView in a new window document (PDF), adapted from the AMA Marketing Dictionary (Links to an external site.). Some practical examples of these concepts are:

Premium Pricing: a high price for a product (e.g. Lexus or Ferrari)
Penetration Pricing: a low price to win market position (e.g. Hyundai Enters 2001 as a Leader in Quality and Value (Links to an external site.))
Economy Pricing: a no frills low price (e.g. Is Spirit the nation’s true low-cost airline? (Links to an external site.))
Bundle Pricing: a combination package of products or services to increase sale or move inventory.

Pick any one of these pricing strategies and an associated product or service. Then, using the concepts defined in the general pricing model View in a new window , analyze the decisions and considerations involved in using the selected pricing strategy to develop a price for that product or service. For example, many airlines carriers are using more and more bundle pricing strategies for pre-purchased Internet (e.g. Gogo Inflight) and upgraded comfort seating.

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