PART 1 (15 mins): Pricing Strategies. Price & income elasticity of demand explained. Also covered: penetration, promotional and premium pricing, with examples. What is meant by "skimming the market" and "price discrimination"?
PART 2 (18 mins): Pricing Case Studies. The recession and rising costs has hit the catering trade: how does this affect pricing strategies? Innocent Drinks once commanded a premium price, but have new products undermined their usp? 99p Stores have used price as a strategic weapon, and are benefiting from recession. Ryanair had also used price to gain market share and as a brand identifier. Diesel uses its brand image to charge premium prices. But price can have damaging social effects: we look at cheap alcohol sales in supermarkets and energy sector pricing. Is it effectively a monopoly?
~ Pricing Strategies
~ Price & Income Elasticity Of Demand
~ Penetration Pricing
~ Promotional & Premium Pricing
~ Skimming
~ Price Discrimination
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