how should a company set prices initially for products or services
TRANSCRIPT
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SETTING THE PRICE
-KARTIK BHARGAVA
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STEP 1: SELECTING THE PRICING
OBJECTIVE
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Survival
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Maximum Current Profit
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Maximum Market Share
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Maximum Market Skimmimg
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Product-Quality Leadership
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STEP 2 :DETERMINING DEMAND
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Price Sensitivity
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Estimating Demand Curves
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Price Elasticity Of Demand
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STEP 3 :ESTIMATING COSTS
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Types of costs and levels of production
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Accumulated production
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Target Costing
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STEP 4 :ANALYZING COMPETITOR’S
COSTS, PRICES AND OFFERS
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STEP 5 : SELECTING A PRICING
METHOD
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STEP 6 :SELECTING THE FINAL
PRICE
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Impact of the other marketing activities
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Company pricing policies
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Gain and Risk sharing pricing
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Impact of price on other Parties