Product Positioning and Pricing Strategies

To convey the price-quality tiers of their products or services to consumers.

To cover more of the market and give consumers more choices.

Selecting the pricing objective.

<p>Survival, maximum current profit, maximum market share, maximum market skimming, and product-quality leadership.</p> Signup and view all the answers

<p>Spreading pricing authority horizontally across sales, marketing, and finance units and striking a balance between centralizing and delegating that authority.</p> Signup and view all the answers

<p>By shifting their spending and making trade-offs between different products or services.</p> Signup and view all the answers

<p>Not revising prices often enough to capitalize on market changes.</p> Signup and view all the answers

<p>To create a unique identity for a product or service in the market.</p> Signup and view all the answers

<p>Because consumers actively process price information and interpret it based on various factors.</p> Signup and view all the answers

<p>To create a high-quality image and maximize profit margins.</p> Signup and view all the answers

<p>Varying prices for different product items, market segments, distribution channels, and purchase occasions.</p> Signup and view all the answers

<p>By determining demand, estimating costs, and analyzing competitors' costs, prices, and offers.</p> Signup and view all the answers

<p>Price.</p> Signup and view all the answers

<p>Because purchase decisions are based on how consumers perceive prices and what they consider the current actual price to be.</p> Signup and view all the answers

<p>Setting prices independently of the rest of the marketing program, and integrating pricing into the overall market-positioning strategy.</p> Signup and view all the answers

<p>A thorough understanding of consumer pricing psychology and a systematic approach to setting, adapting, and changing prices.</p> Signup and view all the answers

<p>Leaving money on the table.</p> Signup and view all the answers

<p>Varying the prices of different products in a store or of the same product in similar territories.</p> Signup and view all the answers

<p>To avoid alienating customers or violating the Sherman Antitrust Act.</p> Signup and view all the answers

<p>Consumers may understate their purchase intentions at higher prices or exaggerate their willingness to pay.</p> Signup and view all the answers

<p>By analyzing data on past prices, quantities sold, and other factors to reveal their relationships.</p> Signup and view all the answers

<p>A retailer selling power drills at $90, $120, and $130, respectively.</p> Signup and view all the answers

<p>To create a perception of high value and justify a higher price.</p> Signup and view all the answers

<p>By identifying and targeting specific segments of the market with tailored pricing strategies.</p> Signup and view all the answers