This video is a perfect exaample of how educational organisations can use video to teach. An excellent, concise video that deals with the topic very effectively
Soma, I am currently in a marketing class and this video is awesome! I appreciate how you explain everything which is exactly what I needed for my class. Thank you so much!!
Dear how2websiteblog: I'm honored you'd share the video on your blog. It's for educational purposes so the more the merrier. In the associated playlist I have other marketing videos that my interest you.
I was using margin to stand for profit margin. You are right, different businesses define it differently. How is margin defined in your company AxleMax73?
That's not the greatest process. It's going to take a lot of effort to generate income like this. I used to practice it. Today I work just 4 hours per week and make around $6000 per week. Research Wealthy Income ATM and she will illustrate how!
Do you have your own web shop? Then you should also use your own Pricing Strategy! Learn how to create your own strategy here: www.pricesearch.io/how-to-create-a-pricing-strategy-for-you-web-store/
I am preparing for my Exec MBA Exams [last minute preparation honestly] and i think i don't need to run around for understanding what Skimming and Penetration strategies means, :) I got my answer in 19:34 secs. Cheers!!!
This video applies to both online pricing marketing and traditional pricing marketing. You mentioned the 4 types of pricing and I really adore you for discussing this topic so clearly. Very informative and very useful on how we can plan our capital, the profit and everything that we need to know on how we can earn and not to avoid mistakes in pricing.
Dear spacepod100: The answer is...it depends. The first step is to ask questions. Where is the pricing in comparison to competitors? If the new production process allows you to be more competitive based on the company's chosen strategy then lower the price. If the company has other items in the portfolio that are not as profitable then you could keep the price the same. As you can see, there are many options.
Spacepod100 - The answer is, "it depends." Is the product above or below competitors on the shelf? Is it a proprietary process that will take time for others to figure out? Are there markets you're not able to approach because you're priced out? If the underlying question is can we keep the price the same and make more profit, then you'd need to answer these more strategic questions first. Soma
You are right. Early in the video I mentioned that pricing is quite complicated but I'd be simplifying it to get the concepts across. Every company has a different mix of tax rates and other accounting factors. In order to set strategy at a higher level it's helpful to look at a less muddy number.
Hi. Yes, I have tutorials on Sophia - a non-profit educational site. In the video description you'll see a link to my work. You can also download the PowerPoints there and find other resources. Thanks for your kind comments.
Useful video here, thanks, nice and simple. A business must take many factors into account before deciding on the price of a product. A business must consider whether the product is a budget or luxury product and how the price will reflect the customer perception of the quality of the product, what a customer is prepared to pay, what competitors are charging and the cost of the actual product - the business needs to make a mark up!
The Chart Pricing Strategies: For-Profit is not right and not consistent. Skimming and Penetration pricing are short-term strategies which are Independent of the product quality. The "Quality" Dimension in the matrix is misleading.
Thank you very much for the video. as per my evaluation: Ipad3 is a premium wal - mart comes under penetration, skimming and promotion Hampton inn is geographical Apartment in NY is geographical, Promotion and skimming Fitness center under promotion, economy, geographical lexus coach edition comes under promotion Please correct me if i am wrong!!! Thank you once again
In a general business context, margin (or EBIT) is the difference between a product's (or service's) selling price and the cost of production. Profit may be very different after interest, depreciation, tax & amortisation (EBITDA)
can anyone explain what a company would do if they found a cheaper production process and no internal/external conditions changed, in terms of their new retail price?
Excellent presentation qualities, also the segregation of Price from the other Ps of Marketing Mix is easily comprehended and perfectly explained. I am well informed by this presentation.
My pleasure. I work as marketing consultant within the education sector (mainly in the UK) and I've used this video as an exemplar of good practice with several of my clients who offer, or are considering offering, distance learning courses.
In my view, this is an oversimplification of pricing. The nature of the 4-block framework introduces more risk by limiting the price options to high or low. Take clothing or wine as examples. One could likely define a dozen or more price positions that aren't simply high or low. Considering pricing at mid-market, using value-based pricing, etc. offer a better chance at maximizing profits and ensuring a sustainable competitive position.
Gabe Anderson Gabe, I agree. In my video I address that it's far more complicated. So many students and business owners need a place to start, so here's one.
Always willing to learn the compicate world of marketing ;-) Thanks in advance, and looking forward to see and larn from the other types of strategies.
Thank you very much for your video. I have a question. how a firm’s pricing strategy may differ between stable and unstable competitive environments? Thank you
Thank you for your question, Joanne. Your question takes this video to the next level. My answer is to recommend you look at some economics videos (closely tied to pricing) and see what happens when a good is elastic or inelastic. Without knowing more about the good or service you are marketing, it's my best advice on where to go next.
Narender, thank you for your kind words.
exam tomorrow.. thank you :)
Thank you Marketingmagician. My students, and students all over the world, are finding vidoes to be very useful. Thank you for your kind comment.
isn't her voice lovely though? nice presentation...
More than a decade later and this video is still helping people like me. Informative and concise, exactly what I needed, thank you!
This video is a perfect exaample of how educational organisations can use video to teach. An excellent, concise video that deals with the topic very effectively
Soma,
I am currently in a marketing class and this video is awesome! I appreciate how you explain everything which is exactly what I needed for my class. Thank you so much!!
+shogun warrior I'm thrilled you found it useful. Good luck!
Do you have lecture notes for us ?
Beg
So much better then my marketing lecturer at degree level! Thank you so much for not making marketing the boring subject that he does! :)
The answers are right there
1A 2E 3C 4G 5D 6F 7B
Dear how2websiteblog: I'm honored you'd share the video on your blog. It's for educational purposes so the more the merrier. In the associated playlist I have other marketing videos that my interest you.
I was using margin to stand for profit margin. You are right, different businesses define it differently. How is margin defined in your company AxleMax73?
Hurry, take a look at my tutorials on Sophia. The web site is noted in the video description. Cheers.
That's not the greatest process. It's going to take a lot of effort to generate income like this. I used to practice it. Today I work just 4 hours per week and make around $6000 per week. Research Wealthy Income ATM and she will illustrate how!
Do you have your own web shop? Then you should also use your own Pricing Strategy! Learn how to create your own strategy here: www.pricesearch.io/how-to-create-a-pricing-strategy-for-you-web-store/
I am preparing for my Exec MBA Exams [last minute preparation honestly] and i think i don't need to run around for understanding what Skimming and Penetration strategies means, :) I got my answer in 19:34 secs. Cheers!!!
This video applies to both online pricing marketing and traditional pricing marketing. You mentioned the 4 types of pricing and I really adore you for discussing this topic so clearly. Very informative and very useful on how we can plan our capital, the profit and everything that we need to know on how we can earn and not to avoid mistakes in pricing.
thank you so much for such simple explanation... small businessman like me get too much information from this
Thank you so very much, that was exemplary and super effective. ..
The site is on sophia.org and you can search for Pricing Strategies. Apparently I'm not able to post the direct link here.
Dear spacepod100: The answer is...it depends. The first step is to ask questions. Where is the pricing in comparison to competitors? If the new production process allows you to be more competitive based on the company's chosen strategy then lower the price. If the company has other items in the portfolio that are not as profitable then you could keep the price the same. As you can see, there are many options.
Spacepod100 - The answer is, "it depends." Is the product above or below competitors on the shelf? Is it a proprietary process that will take time for others to figure out? Are there markets you're not able to approach because you're priced out? If the underlying question is can we keep the price the same and make more profit, then you'd need to answer these more strategic questions first.
Soma
You are right. Early in the video I mentioned that pricing is quite complicated but I'd be simplifying it to get the concepts across. Every company has a different mix of tax rates and other accounting factors. In order to set strategy at a higher level it's helpful to look at a less muddy number.
Hi. Yes, I have tutorials on Sophia - a non-profit educational site. In the video description you'll see a link to my work. You can also download the PowerPoints there and find other resources. Thanks for your kind comments.
dnlxl - take a look in the video description. I'm not able to put websites in the comment box. You can search for sophia online as well.
Hi. The link to follow to download the PowerPoint is now in the video description. I'm glad you found it useful.
Thank you very much. This is really helpful
Useful video here, thanks, nice and simple. A business must take many factors into account before deciding on the price of a product. A business must consider whether the product is a budget or luxury product and how the price will reflect the customer perception of the quality of the product, what a customer is prepared to pay, what competitors are charging and the cost of the actual product - the business needs to make a mark up!
The Chart Pricing Strategies: For-Profit is not right and not consistent.
Skimming and Penetration pricing are short-term strategies which are Independent of the product quality.
The "Quality" Dimension in the matrix is misleading.
Thank you very much for the video.
as per my evaluation:
Ipad3 is a premium
wal - mart comes under penetration, skimming and promotion
Hampton inn is geographical
Apartment in NY is geographical, Promotion and skimming
Fitness center under promotion, economy, geographical
lexus coach edition comes under promotion
Please correct me if i am wrong!!! Thank you once again
In a general business context, margin (or EBIT) is the difference between a product's (or service's) selling price and the cost of production.
Profit may be very different after interest, depreciation, tax & amortisation (EBITDA)
can anyone explain what a company would do if they found a cheaper production process and no internal/external conditions changed, in terms of their new retail price?
Excellent presentation qualities, also the segregation of Price from the other Ps of
Marketing Mix is easily comprehended and perfectly explained.
I am well informed by this presentation.
My pleasure. I work as marketing consultant within the education sector (mainly in the UK) and I've used this video as an exemplar of good practice with several of my clients who offer, or are considering offering, distance learning courses.
@browzy2000 you can download the ppt and video from this site. I'm glad you found it useful.
Hi, i would also like to download them. where can i get them? Kind regards
gud job - do you do any online services by any chance [excluding this]? like a website or anythin?
Excellent info 👍🏼
lol she said the wii
Best video I have found about product pricing. Thanks a bunch for your help and I will subscribe to your page.
thanks.this is what i was looking for.thanks very much.BILLY FROM ROSKILDE BUSINESS COLLEGE.GODBLESS
Nice Video, what a fantastic way of explaining dependency or impact of Product, Promotion and Place on Pricing.
your videos are great help especially for my exams! thank you and keep up the good work!!!
Thank u so much !
thank you for sharing your knowledge, I find this video very usefull
thank you for sharing your knowledge, I find this video very usefull
good information
Thank you Soma
Very well explained. Thank you. I could not find the slide deck on the above weblink. Have you changed the location?
Hi, Sanjay. Not purposefully. Let me look into and I’ll get back to you.
thank you for sharing your knowledge, I find this video very usefull
Exam is today. I now know something to be able to write a report so thank you 🤗
Clear, Concise and easy to Comprehend
Congratulations
Wow, you're a really good speaker. It was easy to listen to and understand!
margin does not equal profit. They are very different things
Thank you so much am definitely passing my marketing exam tommorow!!!
0:51 It’s not a problem, it’s a ME problem!
thank you.
Thank you very much!! so helpful info!!
Very useful video, thanks!
thank you
Good use of examples to drive the idea home.
Thank you for your service Soma enjoyed the education .
This is a great video. It was a pleasure to watch :)
In my view, this is an oversimplification of pricing. The nature of the 4-block framework introduces more risk by limiting the price options to high or low. Take clothing or wine as examples. One could likely define a dozen or more price positions that aren't simply high or low. Considering pricing at mid-market, using value-based pricing, etc. offer a better chance at maximizing profits and ensuring a sustainable competitive position.
Gabe Anderson Gabe, I agree. In my video I address that it's far more complicated. So many students and business owners need a place to start, so here's one.
@somasclasses can you send me the powerpoint?
Hi! Very nice video, it was very usefull! Where are the answers for the last slide? Many thanks!
Dear Joao: by the end of the month I'll have a "quiz" created on www.sophia.org for this video. I'll have the answers there.
You stuff for use. God bless
Very Nice presentation
greatttttttttttttttttttttttttttttttttttttttt
1:11 love this momment
great info thanks
0:53 Love this moment
great it helps me a lot..mmam
Thank you for interesting presentation!
Where are the answers for the exercise at the end of the video?
Janina - by the end of the month I'll have a "quiz" created on www.sophia.org for this video. I'll have the answers there. Soma
thank you it is so good
Great Video.
Dear Soma thanks for the explanation. I wonder whether you can also show the product and promotion strategiesin the same format.
+Francisco Sotomayor That's a great idea. Let me see what I can put together.
Always willing to learn the compicate world of marketing ;-)
Thanks in advance, and looking forward to see and larn from the other types of strategies.
Very well presented. Thank you!
:ok_hand:🏽
Good!
bravo.
good
Excellent!
thank you, great info!
I am studying for my final exam at SDSU of Pricing Strategies and Supply Chain and this video is REALLY helpful! THANK YOU for sharing this video!
This is just complicated compared to other videos i have seen
Thank you very much for your video. I have a question. how a firm’s pricing strategy may differ between stable and unstable competitive environments?
Thank you
Thank you for your question, Joanne. Your question takes this video to the next level. My answer is to recommend you look at some economics videos (closely tied to pricing) and see what happens when a good is elastic or inelastic. Without knowing more about the good or service you are marketing, it's my best advice on where to go next.