Pricing Summary

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1、FrameworkofPricingTheoryJianNiJohnsHopkinsUniversityCustomerCostCompetitionEVCAnalysisIncrementalBreak-evenAnalysis3StepstoWinActualSalesSensitivityAnalysis10FactorsAffectActualWillingnesstoPayMeasuringPriceSensitivityProfitablePricingRequires3CsSustainableFoundationsforPr

2、ofitablePricingPricingTacticsPsychologicalAspectsofPricingPriceDiscriminationTwo-partsPricingPriceBundlingProductLinePricingProductLifecyclePricingPricingasaPromotionToolInternetPricingEthnicandLegalIssuesofPricing01.FlawedPricingPracticeifusedaloneCost-pluspricing:Addinga

3、standardmarkuptothecostoftheproduct.Product-->cost-->price-->value-->customerCustomer-basedpricing:Settingpricebasedonbuyers’perceptionsofvalueratherthanontheseller’scost.Customers-->value-->price-->cost-->productCompetitionbasedpricing:Settingpricebasedoncompetitors’charg

4、eforsimilarproducts.Theprofit-drivenpricingpracticerequiresmanagementtoconsidercost,customerandcompetitionsimultaneously.2.OnlyRelevantCostMattersRelevantcosts:costincurredbecauseaproductissold,ornotincurredbecauseitisnotsold.Determinestheprofitimpactofpricingdecision.Itin

5、cludesincrementalcost(costsassociatedwithchangesinpricingandsales)andavoidablecost(costsnotyetbeenincurredorcanbereversed).3.IncrementalBreak-evenAnalysis:Incrementalbreak-evenanalysis:howmuchwouldthesaleshavetoincrease(decrease)toremainthesame(ortargeted)profitfrompricede

6、crease(increase)?Break-evencurve:Basedonthecompany’scoststructure,itshowstheminimumelasticitiesnecessarytomakeapricecutprofitable,orthemaximumelasticitytolerabletomakeapriceincreaseprofitable.Itpresentssuccinctlythedividinglinethatseparatesprofitablepricedecisionsfromunpro

7、fitableones(rightarea:profitable;leftarea:unprofitable).4.EVCEconomicvaluetothecustomer(EVC):themaximumamountacustomershouldbewillingtopay,assumingthats/heisfullyinformedabouttheproductandtheofferingsofcompetitors.EVC=Referencevalue+DifferentiationvalueReferencevalue:thepr

8、iceofperceivedclosestsubstituteadjustedbyquantityused.Differentiationvalue:differencebetw