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E-Marketing, 3rd edition Judy Strauss, Adel I. El-Ansary, and Raymond Frost Chapter 11: Price © Prentice Hall 2003 Price The sum of all the values (such as money, time, energy, and psychic cost) that buyers exchange for the benefits of having or using a good or service.

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e marketing 3rd edition judy strauss adel i el ansary and raymond frost

E-Marketing, 3rd editionJudy Strauss, Adel I. El-Ansary,and Raymond Frost

Chapter 11: Price

© Prentice Hall 2003

price
Price
  • The sum of all the values (such as money, time, energy, and psychic cost) that buyers exchange for the benefits of having or using a good or service.
the internet changes pricing strategies
The Internet Changes Pricing Strategies
  • Change from fixed price policies to dynamic pricing
  • Buyer power online has increased
    • Price transparency
pricing efficient market
Pricing: Efficient Market
  • Customers have equal access to information about products, prices and distribution
  • Expectations
    • lower prices
    • high price elasticity
    • frequent price changes
    • smaller price changes
    • narrow price dispersion
lower prices
Mainly true thanks to:

Shopping agents

Reverse auctions

Tax-free zones

Venture capital

Competition

Lower costs:

Self service

JIT inventory

Overhead

Customer service

Printing and mailing

Digital product distribution costs

Lower Prices
price changes
Frequent price changes due to:

Competition

Shopping agents

Easiness

Volume discount

Experimentation

Smaller price change increments:

Price-sensitive consumers

Shopping agents

Price Changes
non efficient market
Non-efficient market
  • Price dispersion is not narrow
  • Explanation for price dispersion:
    • How goods are priced online
    • Delivery options
    • Time-sensitive shoppers
    • Branding
    • Switching costs
    • Second-generation shopping agents
    • Metamediaries
    • Other explanations?
upward pressure on internet pricing
Upward Pressure on Internet Pricing
  • Distribution
  • Affiliate programs
  • Site development and maintenance
  • Marketing and advertising
pricing strategies
Pricing Strategies
  • Penetration pricing
  • Market skimming pricing
  • Price leadership
  • Promotional pricing
  • Segmented pricing
  • Negotiation
  • Dynamic pricing
key terms
Key Terms
  • Dynamic pricing
  • Efficient markets
  • Fixed pricing
  • Price
  • Price dispersion
  • Price elasticity
  • Price leadership
  • Price transparency
  • Promotional pricing
  • Reverse auction
  • Second-generation shopping agents