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
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.
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.
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!!
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!!!
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.
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.
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!
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?
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)
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.
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
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.
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
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.
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?
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.
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/
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.
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.
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!
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
So much better then my marketing lecturer at degree level! Thank you so much for not making marketing the boring subject that he does! :)
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.
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.
Thank you Marketingmagician. My students, and students all over the world, are finding vidoes to be very useful. Thank you for your kind comment.
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
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!!!
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.
Clear, Concise and easy to Comprehend
Congratulations
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!
your videos are great help especially for my exams! thank you and keep up the good work!!!
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.
Nice Video, what a fantastic way of explaining dependency or impact of Product, Promotion and Place on Pricing.
Wow, you're a really good speaker. It was easy to listen to and understand!
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.
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!
@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
thank you so much for such simple explanation... small businessman like me get too much information from this
Thank you so much am definitely passing my marketing exam tommorow!!!
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?
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)
The site is on sophia.org and you can search for Pricing Strategies. Apparently I'm not able to post the direct link here.
Best video I have found about product pricing. Thanks a bunch for your help and I will subscribe to your page.
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.
Thank you very much. This is really helpful
Hurry, take a look at my tutorials on Sophia. The web site is noted in the video description. Cheers.
Narender, thank you for your kind words.
Excellent info 👍🏼
Thank you for your service Soma enjoyed the education .
exam tomorrow.. thank you :)
Thank you so very much, that was exemplary and super effective. ..
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
This is a great video. It was a pleasure to watch :)
gud job - do you do any online services by any chance [excluding this]? like a website or anythin?
Exam is today. I now know something to be able to write a report so thank you 🤗
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.
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 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
Good use of examples to drive the idea home.
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.
The answers are right there
1A 2E 3C 4G 5D 6F 7B
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.
thanks.this is what i was looking for.thanks very much.BILLY FROM ROSKILDE BUSINESS COLLEGE.GODBLESS
isn't her voice lovely though? nice presentation...
0:51 It’s not a problem, it’s a ME problem!
Very Nice presentation
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.
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?
Very well presented. Thank you!
Thank you very much!! so helpful info!!
thank you for sharing your knowledge, I find this video very usefull
Very useful video, thanks!
Thank you for interesting presentation!
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.
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/
@somasclasses can you send me the powerpoint?
0:53 Love this moment
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
1:11 love this momment
Great Video.
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.
Thank u so much !
good information
great info thanks
Excellent!
Thank you Soma
thank you, great info!
You stuff for use. God bless
thank you it is so good
thank you.
thank you
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.
great it helps me a lot..mmam
margin does not equal profit. They are very different things
Good!
bravo.
good
greatttttttttttttttttttttttttttttttttttttttt
lol she said the wii
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!
:ok_hand:🏽
This is just complicated compared to other videos i have seen
thank you for sharing your knowledge, I find this video very usefull
thank you for sharing your knowledge, I find this video very usefull