Marketing Mix: Pricing Strategies

Posted by Tommy Cook

I'm a Quality Control Technician who is really into keeping things spotless and perfect. I love to talk about business, sports and taking risks. I'm not afraid of speaking my mind and I do love a healthy exchange of ideas.

40 thoughts on “Marketing Mix: Pricing Strategies”

  1. your videos are great help especially for my exams! thank you and keep up the good work!!!

  2. 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

  3. 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.

  4. 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.

  5. 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!

  6. 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! 

  7. thanks very much and i hope u continue to educate so that one day someone can be an entrepreneur or do  better in their business field thanks to you

  8. i couldn’t understand the alternate pricing strategy….could u plz explain it with different examples

  9. 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.

  10. love your channel and vids big thumbs up! since we are both in the same marketing tell me what you think of mine! have i got what it takes? My show is on once every week. Subscribe and spread the word 🙂
    laterz Andrew Lock

  11. Dear Soma thanks for the explanation. I wonder whether you can also show the product and promotion strategiesin the same format.

  12. 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!!

  13. 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.

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