Market oriented pricing: strategies for management
Gespeichert in:
| Beteilige Person: | |
|---|---|
| Format: | Buch |
| Sprache: | Nichtbestimmte Sprache |
| Veröffentlicht: |
New York <<[u.a.]>>
Quorum Books
1990
|
| Links: | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=018046185&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
| Umfang: | XVIII, 200 S. graph. Darst. |
| ISBN: | 0899304028 |
Internformat
MARC
| LEADER | 00000nam a22000001c 4500 | ||
|---|---|---|---|
| 001 | BV024633898 | ||
| 003 | DE-604 | ||
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| 007 | t| | ||
| 008 | 900829s1990 xx d||| |||| 00||| und d | ||
| 020 | |a 0899304028 |9 0-89930-402-8 | ||
| 035 | |a (OCoLC)916422441 | ||
| 035 | |a (DE-599)BVBBV024633898 | ||
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| 100 | 1 | |a Morris, Michael H. |e Verfasser |4 aut | |
| 245 | 1 | 0 | |a Market oriented pricing |b strategies for management |c Michael H. Morris and Gene Morris |
| 264 | 1 | |a New York <<[u.a.]>> |b Quorum Books |c 1990 | |
| 300 | |a XVIII, 200 S. |b graph. Darst. | ||
| 336 | |b txt |2 rdacontent | ||
| 337 | |b n |2 rdamedia | ||
| 338 | |b nc |2 rdacarrier | ||
| 700 | 1 | |a Morris, Gene |e Sonstige |4 oth | |
| 856 | 4 | 2 | |m HBZ Datenaustausch |q application/pdf |u http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=018046185&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |3 Inhaltsverzeichnis |
| 943 | 1 | |a oai:aleph.bib-bvb.de:BVB01-018046185 | |
Datensatz im Suchindex
| _version_ | 1819370498820145152 |
|---|---|
| adam_text | Contents
ILLUSTRATIONS xi
FOREWORD xv
PREFACE xvii
1 INTRODUCTION: PRICE AS A STATEMENT OF VALUE 1
Creating Customer Value 1
Price and Value 2
What Is Value? 3
Value Is Perceptual 4
Value and Quality Are Different 5
Sources of Value 5
Value over a Product s Useful Life (EVC) 6
How to Manage Value: Focusing Inside the Firm 9
How to Manage Value: Focusing on the Customer 14
Price Is a Creative Variable 15
Summary 16
2 DEVELOPING PRICING PROGRAMS 19
, The Need for Strategic Pricing Programs 19
/ The Role of Price Objectives 20
Establishing a Strategy 20
Developing a Structure 23
Determining Price Levels and Related Tactics 25
Putting the Four Together 26
viii / CONTENTS
Linking Pricing Strategy to Marketing Strategy 28
Pricing Strategy over the Product Life Cycle 29
Pricing for Products versus Services 32
The Underlying Determinants of Price 34
Summary 36
, 3 UNDERSTANDING AND USING ELASTICITY 39
The Nature of Demand 39
Defining Elasticity and Its Characteristics 41
Determinants of Elasticity 42
Managerial Implications of Elasticity 44
Elasticity and Market Segmentation: Changing Differentials 45
The Calculation of Price Elasticities 48
Approaches to Elasticity Measurement 51
Summary 53
4 THE PSYCHOLOGY OF PRICING 55
Demand Revisited: How Do Buyers Actually Respond to Price? 56
The Concept of Reference Prices 57
Can Customers Accurately Recall Prices? 60
Price Thresholds and Weber s Law 61
Adaptation Theory and Pricing 62
Assimilation and Contrast Effects 63
Is There a Price-Quality Relationship? 64
The Effectiveness of Odd Pricing 66
Summary 68
5 NEGOTIATING PRICES WITH CUSTOMERS 71
Negotiations Begin Internally 71
The Nature of Customer Negotiations 73
Negotiation Objectives 74
A Strategic Approach to Negotiation 76
Aspirations and Concessions 83
Building a Long-Term Relationship 84
Summary 85
6 EXAMINING COSTS FROM A MARKET PERSPECTIVE 87
The Logic of Cost-Based Pricing: Simplicity 87
The Danger of Cost-Based Pricing: Lost Profits 90
The Contribution Approach 93
Applying Contribution Analysis: An Initial Pricing Decision 96
Applying Contribution Analysis: A Price Change 97
The Contribution Income Statement 99
Cost-Volume-Profit Relationships 100
Economies of Scale and the Experience Curve 101
CONTENTS / ix
A Strategic Perspective on Costs 102
Summary 104
7 INDUSTRY AND COMPETITOR ANALYSIS . 107
Evaluating Industry Structures 108
K Prevalent Competitive Pricing Behaviors 112
Defining Competitive Positions 115
Pricing for Competitive Bids 119
Summary 122
8 PRICING ACROSS THE PRODUCT LINE 125
Cross-Elasticity: Complements and Substitutes 126
The Problem of Cannibalism 127
Relating Product Line Decisions to Overall Profitability 129
Maximizing Product Line Profitability: A Case Study 133
Determining Price Differentials within the Product Line 134
Creativity in Product Line Management 136
The Role of Discounts in the Product Line 139
Summary 141
9 LEGAL AND ETHICAL ASPECTS OF PRICING DECISIONS 143
Legislation Governing Pricing Activities 144
Key Aspects of the Robinson-Patman Act 145
Penalties under the Law 149
Price Behaviors that Raise Legal Questions 149
Resale Price Maintenance and Price Administration 152
Price Discrimination 153
Deceptive Practices and Price 158
Ethical Aspects of Pricing 158
Summary 160
10 COMPUTERS AS AN AID IN PRICING 163
Capabilities of Electronic Data Processing 163
The Limited Computer Skills of Managers 164
Building a Pricing Data Base 164
Using Electronic Spreadsheets 168
Building Models 172
Performing Price Analysis with Computers 172
Additional Statistical Analysis for Pricing 187
Summary 188
SUGGESTED READINGS 191
INDEX 197
Illustrations
TABLES
2.1 Examples ofTwenty-One Pricing Objectives 21
2.2 Types of Pricing Strategies 22
2.3 Some Key Managerial Questions to be Addressed in Developing
a Pricing Structure 24
2.4 Considerations in Evaluating Initial Pricing Strategy Options 31
3.1 The Determinants of Elasticity and How They Work 43
3.2 The Relationship between Elasticity and Revenue 44
3.3 Results of a Cross-Sectional Attitudinal Survey of Industrial
Marketing Managers Regarding the Use of Price Differentials 49
3.4 Importance Ratings of Various Approaches to Estimating
Customer Price Sensitivity 53
4.1 Results of a Study Regarding Effectiveness of Odd Pricing 67
5.1 Examples of Factors That Are Negotiable 7 5
6.1 Calculating Price Using a Full-Costing, Cost-Pius Approach 89
6.2 Calculating Price Using Target Return Approach 91
6.3 Contribution Format Income Statement for Line of Lawn Mowers 99
7.1 Defining the Competitive Position of a Particular Firm 116
7.2 Ten Major Questions to Address Regarding Competitors before
Making Price Decisions 117
7.3 An Application of the Probability Bidding Model to Thompson
Corporation 120
7.4 Estimating Probabilities for Use by the Manager in Competitive
Bidding 121
xii / ILLUSTRATIONS
8.1 Example of Cannibalism Resulting from a Price Change 128
8.2 Hypothetical Costs, Volume, Prices and Weighted PV Ratio for
a Product Line 130
8.3 Evaluating the Effect of Changes in Price and Volume on PV Ratio
for a Product Line 131
8.4 Determining Prices for a Line of Stereo Speakers 137
8.5 Application of Manufacturer s Discount Structure to the Hospital
Distributor Company 140
9.1 Categories and Types of Legal Price Discrimination 154
9.2 Legal Actions Brought under the Robinson-Patman Act and
Resulting Decisions, 1961-1986 155
9.3 Twenty Pricing Practices That Raise Ethical Questions 160
10.1 Items to Be Included in a Pricing Data Base 165
10.2 Pricing Data Base Example 166
10.3 Example of a Blank Spreadsheet 169
10.4 Sample Spreadsheet with Pricing Data 170
10.5 Cell Entries for a Sample Spreadsheet with Pricing Data 171
10.6 Computer Worksheet, Everlight Corporation, Implications of
Various Prices 174
0.7 Cell Entries, Everlight Corporation, Implications of Various Prices 175
0.8 Computer Worksheet, Bigbulb Elasticity Example 177
0.9 Cell Entries, Bigbulb Elasticity Example 178
0.10 Computer Worksheet, Bigbulb CVP Analysis 181
0.11 Cell Entries, Bigbulb CVP Analysis 183
FIGURES
1.1 Illustration of the Sources of Value 7
1.2 Calculation of Economic Value to the Customer 10
1.3 The Value Chain 11
1.4 Value Chain for a Copier Manufacturer 13
2.1 Pricing Over the Product Life Cycle 30
2.2 Company Pricing Program and Its Determinants 35
3.1 Examples of Demand Curves 40
3.2 Calculating Elasticity Using a Hypothetical Demand Curve 50
4.1 Some Alternative Versions of the Demand Curve for a Particular
Buyer 56
4.2 Customer Price Perceptions and Actual Prices for Home Stereo
Equipment 59
4.3 The Subjective Aspects of Relating Quality to Price 65
ILLUSTRATIONS / xiii
5.1 A Strategic Framework for Managing Price Negotiations 76
5.2 Defining the Bargaining Zone for Price Negotiation 79
6.1 The Assumed Behavior of Variable and Fixed Costs 88
6.2 Demand Curve for the Designer Push-Button (DPB) Telephone 92
6.3 Calculating the Break-Even Level of Sales Using Contribution
Analysis 94
6.4 Illustration of a 75 Percent Experience Curve 103
6.5 Pricing to Take Advantage of the Experience Curve 104
7.1 A Price-Payoff Table for a Two-Firm Oligopoly 109
8.1 A Graphical Illustration of Break-Even Points for Product Line
Using Overall PV Ratios of .43 and .48 132
EXHIBIT
2.1 Managing the Pricing Function: Two Case Studies 27
|
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| illustrated | Illustrated |
| indexdate | 2024-12-20T13:49:58Z |
| institution | BVB |
| isbn | 0899304028 |
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| physical | XVIII, 200 S. graph. Darst. |
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| publishDateSearch | 1990 |
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| publisher | Quorum Books |
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| spellingShingle | Morris, Michael H. Market oriented pricing strategies for management |
| title | Market oriented pricing strategies for management |
| title_auth | Market oriented pricing strategies for management |
| title_exact_search | Market oriented pricing strategies for management |
| title_full | Market oriented pricing strategies for management Michael H. Morris and Gene Morris |
| title_fullStr | Market oriented pricing strategies for management Michael H. Morris and Gene Morris |
| title_full_unstemmed | Market oriented pricing strategies for management Michael H. Morris and Gene Morris |
| title_short | Market oriented pricing |
| title_sort | market oriented pricing strategies for management |
| title_sub | strategies for management |
| url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=018046185&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
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