The Value Pricing Strategy Of Marketing

The product strategy ranges from brand name to product image to package design to service to guarantee to product development and more; pricing strategy must allow your prices to be fair relative to the benefits of your product and must factor in competition; distribution is the goal to deliver your product to the right people in the right quantities, at the right time and the right place; and promotion strategy includes all the ways that marketers communicate about their products.

Grewal and Levy (2010: p32) state that ‘a marketing strategy identifies, (1) a company’s target market(s), (2) a related marketing mix - their four P’s and (3) the bases upon which the firm plans to build a sustainable competitive advantage’.

The key to successful pricing is to match the product with the consumer's perception of value.

A marketing strategy is the combination of the target market, or the customers the marketing is intended to reach, and the marketing mix. Product, price, place, and promotion are components of the marketing mix, or the four p’s, which create a value for the customer (Perreault, Cannon, & McCarthy, 2009). For this reason, the customer, who is not part of the marketing mix, is the center of the target, surrounded by the elements of the marketing mix. The ultimate goal of a marketing strategy is to create value for the customer, which allows the organization to increase customer satisfaction and results in repeat customers and additional equity for the organization (Armstrong &

A successful marketing strategy will help a company to find out the trend and goals for its marketing. A strategy must elaborate how a company is going to present its products or  services in ways that will satisfy a company’s consumer. The marketing strategies of Four Seasons are the following:

SUMMARY OF CH.10 Pricing strategies: Price: is an amount of money that the consumer is paying for a product or a service. Costumer value-based pricing: to determine the price of product or service we have to consider the customer expectations of the value not the seller’s cost. Good-value pricing means the balance between good quality and service, decent price for both the customer and the company in order for it to gain profit.

Marketing is complex but it can be simplified by answering a few questions. Who is our target market, Why us, why does a customer purchase from us and not a competitor, and what distributions channels will we use to get products to end user customers (Jobs, 2013). There are 4 principles of marketing strategy. The first principle of marketing strategy is specialization. Specialization is when a company decides which products or services to concentrate on. Once a business decides which products or services to concentrate on they can begin the process of making the product or service

Marketing strategy is a method of focusing an organization's energies and resources on a course of action which can lead to increased sales and dominance of a targeted market niche. A marketing strategy combines product development, promotion, distribution, pricing, relationship management and other elements; identifies the firm's marketing goals, and explains how they will be achieved, ideally within a stated timeframe. Marketing strategy determines the choice of target market segments, positioning, marketing mix, and allocation of resources. It is most effective when it is an integral component of overall firm strategy, defining how the organization will successfully engage customers, prospects, and competitors in

According to the Principle of Marketing textbook, a marketing strategy is defined as the marketing logic by which the company hopes to create customer value and achieve profitable customer relationships ((Kotler and Armstrong, 2012: p. 48). Within this section, you will see how Vodafone’s and ExxonMobil’s marketing strategies are derived and what tactics they take to create value to their customers.

Every organization needs to have a marketing strategy so that they know who are their competitors, which market they need to target, do they have resources to compete in that market and what strategies they need to adopt to gain competitive position in the industry. The most important thing is with the help of marketing, company is able to make people aware of its product.

As a revenue manager, I will bring to the fore of the company the pricing strategies that can help enhance the company’s revenue. These pricings are the value-based pricing ¬– deals with the perceived value, creating an estimate of market demand on the basis of how customers will perceive the value of the service. Also, Value-added service pricing ¬– value added to service or product purchase by customers with the aim of enhancing perception of value – will be appreciated by me. Furthermore, reference pricing¬ - this Is the pricing expected by a consumer for a product to be sold – thus, it reflect the imaginations of consumer. As such, this will be imbibed with tactfulness (Jones, 2008).

Marketing strategies serve as the fundamental underpinning of marketing plans designed to fill market needs and reach marketing objectives. Plans and objectives are generally tested for measurable results. Commonly, marketing strategies are developed as multi-year plans, with a tactical plan detailing specific actions to be accomplished in the current year. Time horizons covered by the marketing plan vary by company, by industry, and by nation, however, time horizons are

The value pricing is a concept of categorize the prices of different services or products based on the value it provides to its customers. The price determines by the management based on the unique feature that service or product has in it and customers gets charged higher or lower based on those unique features and quality.

Before a product is developed, a firm needs to come up with a marketing strategy. This involves selecting the target market and product positioning. Usually, there has to be a balance between product quality and price. This way, price plays an important role in the marketing mix.

According to Chen and Lin (2015), perceived value is the worth, which a service or a product has within the mind of the consumer. In reality, the consumers perceived value of the service or product affects the price, which she or he is willing to pay for it. De Oliveira et al (2015) state that customer perceived value is the anticipated benefit from the consumer’s perspective of the service or product. Notably, customer perceived value stems from the psychological, tangible and social advantages, and because it affects the demand of a product, it requires to be taken into account whenever there is a setting of prices (Pandza and Vignali, 2010).