Jessie J brilliantly quotes 'Price' in one of her latest hits- 'Price Tag.'
Pricing is an extremely important factor in the Product Mix. Revenues are brought about because of appropriate pricing. It is a vital criterion in the consumer's decision process. It gets the consumer to demand for lower prices to the retailers which in turn does the same to the manufacturers. Anyhow, it does exist predominantly and therefore forms as one of the pillar of the 4 Ps constituting to value to the customer.
Two Product Pricing:
This includes the example of the SIM card price and the usage price (voice, data charges etc.)
It simply justifies that nothing in life is for free. Every thing has a cost associated with it, and so does our Product Mix!"It seems like everybody's got a priceI wonder how they sleep at nightWhen the sale comes first and the truth comessecondJust stop for a minute and smile"
Pricing is an extremely important factor in the Product Mix. Revenues are brought about because of appropriate pricing. It is a vital criterion in the consumer's decision process. It gets the consumer to demand for lower prices to the retailers which in turn does the same to the manufacturers. Anyhow, it does exist predominantly and therefore forms as one of the pillar of the 4 Ps constituting to value to the customer.
Well, the following are 6 kinds of pricing. The marketer makes use of this in order to decide and set prices of the product mix.
Product Line Pricing:
It is the variable price associated with every product in the variants of a Product Line. The Depth of product sees different item marked with different prices. It is to suit the customer requirements and value. It is determined according to the product's demand, SKUs etc. Eg: FMCG products.
Optional Feature Pricing:
Every time an additional feature is offered, it comes with a price. It is like the add ons you go on adding to your new car purchase in order to customize it. Eventually, only to realize the total price amount has increased. Eg: The Tour Packages.
Captive-product Pricing:
This is of a pair or combination that goes hand in hand. The purchase of one requires the purchase of the other too. Without which the functionality cannot be put to use. For instance- the razor stick and the blade.
Product Line Pricing:
It is the variable price associated with every product in the variants of a Product Line. The Depth of product sees different item marked with different prices. It is to suit the customer requirements and value. It is determined according to the product's demand, SKUs etc. Eg: FMCG products.
Optional Feature Pricing:
Every time an additional feature is offered, it comes with a price. It is like the add ons you go on adding to your new car purchase in order to customize it. Eventually, only to realize the total price amount has increased. Eg: The Tour Packages.
Captive-product Pricing:
This is of a pair or combination that goes hand in hand. The purchase of one requires the purchase of the other too. Without which the functionality cannot be put to use. For instance- the razor stick and the blade.
Two Product Pricing:
This includes the example of the SIM card price and the usage price (voice, data charges etc.)
Thus the former bares the latter which is very much usage dependent. The service industry boasts of this pricing. Eg: Restaurants/Clubs.
By-Product Pricing:
As the word suggest it is the price associated with the by-products. These are resulted out during the making of one Product. For instance, the Petroleum products, Meat etc.
Product Bundling Pricing:
This ensures the product is made available in an assortment. Thus, the benefits of other products in a bundle can be obtained at a competitive price than that of the individual price of those items.
This is generally used as promotion. Offers seek Bundling Price as customers prefer to buy products in groups. Eg. Price for a bundle of Oral health care items.
From all the above 6, Ambi Pur has Product Line Price (different price for a 8 ml refill bottle, different price for a starter kit and that for an aerosol bottle.), Captive-Product pricing (The vent diffuser is useless without a refill bottle. Purchase and assembly of both are essentail for the proper functionality.). Also, the Bundling Price is offered on Ambi Pur. It is clubbed with other Air care products and the entire assortment/package is sold at a Bundling Price during promotion, introduction or opportunity seasons.
The following gives the current price rate at which the diffuser system of Ambi Pur Car Freshener:
By-Product Pricing:
As the word suggest it is the price associated with the by-products. These are resulted out during the making of one Product. For instance, the Petroleum products, Meat etc.
Product Bundling Pricing:
This ensures the product is made available in an assortment. Thus, the benefits of other products in a bundle can be obtained at a competitive price than that of the individual price of those items.
This is generally used as promotion. Offers seek Bundling Price as customers prefer to buy products in groups. Eg. Price for a bundle of Oral health care items.
From all the above 6, Ambi Pur has Product Line Price (different price for a 8 ml refill bottle, different price for a starter kit and that for an aerosol bottle.), Captive-Product pricing (The vent diffuser is useless without a refill bottle. Purchase and assembly of both are essentail for the proper functionality.). Also, the Bundling Price is offered on Ambi Pur. It is clubbed with other Air care products and the entire assortment/package is sold at a Bundling Price during promotion, introduction or opportunity seasons.
The following gives the current price rate at which the diffuser system of Ambi Pur Car Freshener:
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