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Boundless Lecture Slides

Boundless Lecture Slides

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Boundless Lecture Slides

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  1. Boundless Lecture Slides Available on the Boundless Teaching Platform Free to share, print, make copies and changes. Get yours at www.boundless.com

  2. Using Boundless Presentations Boundless Teaching Platform Boundless empowers educators to engage their students with affordable, customizable textbooks and intuitive teaching tools. The free Boundless Teaching Platform gives educators the ability to customize textbooks in more than 20 subjects that align to hundreds of popular titles. Get started by using high quality Boundless books, or make switching to our platform easier by building from Boundless content pre-organized to match the assigned textbook. This platform gives educators the tools they need to assign readings and assessments, monitor student activity, and lead their classes with pre-made teaching resources. Get started now at: • The Appendix The appendix is for you to use to add depth and breadth to your lectures. You can simply drag and drop slides from the appendix into the main presentation to make for a richer lecture experience. http://boundless.com/teaching-platform • Free to edit, share, and copy Feel free to edit, share, and make as many copies of the Boundless presentations as you like. We encourage you to take these presentations and make them your own. If you have any questions or problems please email: educators@boundless.com Free to share, print, make copies and changes. Get yours at www.boundless.com

  3. About Boundless • Boundless is an innovative technology company making education more affordable and accessible for students everywhere. The company creates the world’s best open educational content in 20+ subjects that align to more than 1,000 popular college textbooks. Boundless integrates learning technology into all its premium books to help students study more efficiently at a fraction of the cost of traditional textbooks. The company also empowers educators to engage their students more effectively through customizable books and intuitive teaching tools as part of the Boundless Teaching Platform. More than 2 million learners access Boundless free and premium content each month across the company’s wide distribution platforms, including its website, iOS apps, Kindle books, and iBooks. To get started learning or teaching with Boundless, visit boundless.com. Free to share, print, make copies and changes. Get yours at www.boundless.com

  4. Pricing Methods Product and Pricing Strategies Pricing Objectives Pricing Strategies Pricing Products ] New Product Development Product and Pricing Strategies Free to share, print, make copies and changes. Get yours at www.boundless.com

  5. Product Strategy Product and Pricing Strategies(continued) Product Packaging and Branding ] Product and Pricing Strategies Free to share, print, make copies and changes. Get yours at www.boundless.com

  6. Product and Pricing Strategies > Pricing Methods Pricing Methods • Cost-Based Pricing • Demand-Based Pricing • Competition-Based Pricing • Break-Even Analysis Free to share, print, make copies and changes. Get yours at www.boundless.com www.boundless.com/business/textbooks/boundless-business-textbook/product-and-pricing-strategies-15/pricing-methods-93/

  7. Product and Pricing Strategies > Pricing Objectives Pricing Objectives • Profit Optimization • Return on Investment • Market Share • Demanding a Premium • Status-Quo Pricing of Existing Products Free to share, print, make copies and changes. Get yours at www.boundless.com www.boundless.com/business/textbooks/boundless-business-textbook/product-and-pricing-strategies-15/pricing-objectives-94/

  8. Product and Pricing Strategies > Pricing Strategies Pricing Strategies • New Product • Differential • Psychological Pricing • Product Line • Promotions Free to share, print, make copies and changes. Get yours at www.boundless.com www.boundless.com/business/textbooks/boundless-business-textbook/product-and-pricing-strategies-15/pricing-strategies-95/

  9. Product and Pricing Strategies > Pricing Products Pricing Products • The Meaning of Price • Impacts of Supply and Demand on Pricing Free to share, print, make copies and changes. Get yours at www.boundless.com www.boundless.com/business/textbooks/boundless-business-textbook/product-and-pricing-strategies-15/pricing-products-96/

  10. Product and Pricing Strategies > New Product Development New Product Development • Innovation • New Product Ideas • Following a Product Development Process • Screening • Analysis • Testing • Commercialization Free to share, print, make copies and changes. Get yours at www.boundless.com www.boundless.com/business/textbooks/boundless-business-textbook/product-and-pricing-strategies-15/new-product-development-97/

  11. Product and Pricing Strategies > Product Strategy Product Strategy • Developing Products • Developing Services • Classifying Consumer Products • Classifying Business Products • Marketing Classes of Products • Using a Product Life Cycle Framework Free to share, print, make copies and changes. Get yours at www.boundless.com www.boundless.com/business/textbooks/boundless-business-textbook/product-and-pricing-strategies-15/product-strategy-98/

  12. Product and Pricing Strategies > Product Packaging and Branding Product Packaging and Branding • A Brief Definition of Brand • Brand Categories • The Benefits of a Good Brand • Developing a Brand • Brand Management Strategies • Packaging and Labeling Free to share, print, make copies and changes. Get yours at www.boundless.com www.boundless.com/business/textbooks/boundless-business-textbook/product-and-pricing-strategies-15/product-packaging-and-branding-99/

  13. Appendix Free to share, print, make copies and changes. Get yours at www.boundless.com

  14. Product and Pricing Strategies Key terms • advertisingcommunication whose purpose is to influence potential customers about products and services. • arbitrageAny market activity in which a commodity is bought and then sold quickly, for a profit which substantially exceeds the transaction cost • brandA name, symbol, logo, or other item used to distinguish a product, service, or its provider. • Brand categoriesA generic classification of products or services. • Brand Equitythe value of having a well-known name, logo, or other identifier • brand imageThe set of emotional and sensory perceptions a consumer associates with a particular product or service in their mental construct of a brand. • competitive-based pricingCompetitive-based pricing occurs when a company sets a price for its good based on what competitors are selling a similar product for. • conceptualizingTo conceive an idea for something. • ConsumerSomeone who acquires goods or services for direct use or ownership rather than for resale or use in production and manufacturing. • creditA privilege of delayed payment extended to a buyer or borrower on the seller's or lender's belief that what is given will be repaid. • demand curveAn economic model showing the quantity demanded at various price levels. • demand-oriented pricingA pricing model focused on the nature of the demand curve for the product or service being priced. Free to share, print, make copies and changes. Get yours at www.boundless.com

  15. Product and Pricing Strategies • distinctivenessSomething which distinguishes something from anything else • economies of scaleThe characteristics of a production process in which an increase in the scale of the firm causes a decrease in the long-run average cost of each unit. • engagementIn marketing, this is the degree to which individuals follow, discuss, comment on, and participate with a brand. • expenseA spending or consuming. Often specifically an act of disbursing or spending funds. • Focus GroupA group of people, sampled from a larger population, interviewed in open session for market research or political analysis • goodan object produced for market • idea screeningthe process of testing concepts and eliminating unsound ones • innovationThe creation of better or more effective products, processes, services, technologies, or ideas that are not readily available but will soon be. • intangibleincapable of being perceived by the senses; incorporeal • latheA machine tool used to shape a piece of material, or workpiece, by rotating the workpiece against a cutting tool. • learning curveAn experience or graphic representation of progress in learning measured against the time required to achieve mastery of something. • life cycleThe useful life of a product or system; the developmental history of an individual or group in society. Free to share, print, make copies and changes. Get yours at www.boundless.com

  16. Product and Pricing Strategies • line consistencyhow closely related the products that make up the line are. • line depththe number of subcategories a product category has. • line vulnerabilitythe percentage of sales or profits that are derived from only a few products in the line. • loyaltyIn business, this is a customer's propensity to buy from the same organization again as a result of a meaningful brand relationship. • Market ShareThe percentage amount of a market captured by a single firm • Market SharePercentage of some market held by a company. • marketingThe promotion, distribution and selling of a product or service; includes market research and advertising. • marketingMarketing is the process of communicating the value of a product or service to customers. • marketing mixThe marketing mix is a business tool used in marketing products. The marketing mix is often crucial when determining a product or brand's unique selling point and is often synonymous with the four Ps: price, product, promotion, and place. • marketing mixThe marketing mix is a business tool used in marketing products. The marketing mix is often crucial when determining a product or brand's unique selling point and is often synonymous with the four Ps: price, product, promotion, and place. • markupsMarkup is the difference between the cost of a good or service and its selling price. A markup is added on to the total cost incurred by the producer of a good or service in order to create a profit. • obsoleteno longer in use; gone into disuse; disused or neglected (often by preference for something newer, which replaces the subject). Free to share, print, make copies and changes. Get yours at www.boundless.com

  17. Product and Pricing Strategies • PackagingPhysical appearance of a good prepared for retail sale • patentA declaration issued by a government agency declaring someone the inventor of a new invention and having the privilege of stopping others from making, using or selling the claimed invention; a letter patent. • patentA declaration issued by a government agency declaring someone the inventor of a new invention and having the privilege of stopping others from making, using or selling the claimed invention; a letter patent. • Penetration pricingThe introductory stage of a new product's life cycle means accepting a lower profit margin and to price relatively low. Such a strategy should generate greater sales and establish the new product in the market more quickly. • prestigeThe quality of how good the reputation of something or someone is. • priceThe price is the amount a customer pays for the product. • Price premiumThe percentage by which a product's selling price exceeds a benchmark price. • Price skimmingThis involves the top part of the demand curve. The price is set relatively high to generate a high profit margin, and sales are limited to those buyers willing to pay a premium to get the new product. • Price skimmingPrice skimming is a pricing strategy in which a marketer sets a relatively high price for a product or service at first, then lowers the price over time. It is a temporal version of price discrimination/yield management. • processA series of events to produce a result, especially as contrasted to product. • product life cyclethe stages that a good or service goes through from when it is first introduced to when it is taken off the market • product linea series of several related goods or services for sale as individual units Free to share, print, make copies and changes. Get yours at www.boundless.com

  18. Product and Pricing Strategies • product mixthe number of different categories and lines of goods or services offered by a company • profitsCollective form of profit. • Promotional pricingThe temporary reduction of the price of an established product in order to increase interest in customers. • psychological pricingPsychological pricing or price ending is a marketing practice based on the theory that certain prices have a psychological impact. • pull strategycommunication not demanded by the buyer • push strategycommunication demanded by the buyer • rate of returnRate of return (ROR), also known as return on investment (ROI), rate of profit or sometimes just return, is the ratio of money gained or lost (whether realized or unrealized) on an investment relative to the amount of money invested. • resellera company or individual that purchases goods or services with the intention of reselling them rather than consuming or using them • retentionIn general, this is the process of remembering something. In business, however, it refers to the ability of an organization to keep its current customers. • return on investmentOne way of considering profits in relation to capital invested. • revenuethe total income received from a given source • Revenue optimizationA method of finding the best possible combination of output and price level to give the most possible revenue. Free to share, print, make copies and changes. Get yours at www.boundless.com

  19. Product and Pricing Strategies • scaleTo grow and expand rapidly. • status-quo pricingThe practice of pricing goods such that the current market price level is maintained. • Supply and demand modelAn economic model of price determination in a market. • SWOT Analysisa structured planning method used to evaluate the strengths, weaknesses, opportunities, and threats involved in a project or in a business venture • valueThe degree of importance you give to something. • variable costthe amount of resources used that changes with the change in volume of activity of an organization • wholesalera person or company that sells goods wholesale is a middleman that buys its merchandise from a third party supplier and resells the merchandise to retail businesses or the end consumer. A wholesaler normally does not sell to other wholesalers. • yield managementThe analysis of qualitative and quantitative information on factors driving demand for a good in order to forecast the most profitable production decisions for a firm. • yield managementThe method of analyzing information to forecast market conditions and implications for the firm Free to share, print, make copies and changes. Get yours at www.boundless.com

  20. Product and Pricing Strategies Olympus Camera This Olympus camera is considered to be a consumer good. Free to share, print, make copies and changes. Get yours at www.boundless.com Saylor.CC BY 3.0http://www.saylor.org/site/wp-content/uploads/2011/04/Core-Concepts-of-Marketing.pdfView on Boundless.com

  21. Product and Pricing Strategies Break-Even Analysis This graphs depicts an example of a break-even point based on sales and total costs. Free to share, print, make copies and changes. Get yours at www.boundless.com Wikimedia."CVP-TC-Sales-PL-BEP."Public domainhttp://commons.wikimedia.org/wiki/File:CVP-TC-Sales-PL-BEP.svgView on Boundless.com

  22. Product and Pricing Strategies Various Packaging Designs, including labeling Packaging refers to the physical appearance of a product when a consumer sees it, and labels are an informative component of packaging. Free to share, print, make copies and changes. Get yours at www.boundless.com Wikimedia."Paperboard packaging."CC BY-SAhttp://commons.wikimedia.org/wiki/File:Paperboard_packaging.jpgView on Boundless.com

  23. Product and Pricing Strategies Product Lifecycle The product lifecycle. Free to share, print, make copies and changes. Get yours at www.boundless.com Saylor.CC BY 3.0http://www.saylor.org/site/wp-content/uploads/2011/04/Core-Concepts-of-Marketing.pdfView on Boundless.com

  24. Product and Pricing Strategies Demand-based Pricing Illustration of price points, or concave-downward cusps on a demand curve (P is price; Q is quantity demanded; A, B, and C are the price points) Free to share, print, make copies and changes. Get yours at www.boundless.com Wikimedia."PricePointGraph."CC BY-SAhttp://commons.wikimedia.org/wiki/File:PricePointGraph.svgView on Boundless.com

  25. Product and Pricing Strategies Branding Branding is about selling everything associated with your organization. Free to share, print, make copies and changes. Get yours at www.boundless.com Action Marketing Corportation."Action Marketing Team - Brand Marketing."CC BYhttp://www.action-marketing-corp.com/Brand-Marketing.htmlView on Boundless.com

  26. Product and Pricing Strategies Walmart Exterior Large companies, such as Walmart, often have product lines that cover a wide variety of similar or related needs. Free to share, print, make copies and changes. Get yours at www.boundless.com Wikipedia."Walmart exterior."CC BY-SA 3.0http://en.wikipedia.org/wiki/WalmartView on Boundless.com

  27. Product and Pricing Strategies Service Development Dog walking is a service industry that has developed in recent years. Free to share, print, make copies and changes. Get yours at www.boundless.com Flickr."Dogs."CC BY 2.0https://www.flickr.com/photos/objetivoblando/galleries/72157644158546599/View on Boundless.com

  28. Product and Pricing Strategies Assets Return on assets (ROA), return on net assets (RONA), return on capital (ROC) and return on invested capital (ROIC) are similar measures with variations on how 'investment' is defined. Free to share, print, make copies and changes. Get yours at www.boundless.com http://www.ivm4u.com/financial-asset-management-making-the-most-of-money/."Account Suspended."CC BYhttp://www.ivm4u.com/financial-asset-management-making-the-most-of-money/View on Boundless.com

  29. Product and Pricing Strategies Pyramid of Production Systems Refining production for a new product requires consideration of a variety of factors, including productivity, quality, economics, flexibility, and sustainability. Free to share, print, make copies and changes. Get yours at www.boundless.com Wikipedia."Pyramid_of_Production_Systems.jpg."CC BY-SA 3.0https://upload.wikimedia.org/wikipedia/commons/b/b5/Pyramid_of_Production_Systems.jpgView on Boundless.com

  30. Product and Pricing Strategies Competitive Market Pricing Status-quo pricing, also known as competition pricing, involves maintaining existing prices or basing prices on what other firms are charging. Free to share, print, make copies and changes. Get yours at www.boundless.com Wikimedia."Competitive market."Public domainhttp://commons.wikimedia.org/wiki/File:Competitive_market.jpgView on Boundless.com

  31. Product and Pricing Strategies Premium-Priced Good Gold mined from different sources demand different premiums. Free to share, print, make copies and changes. Get yours at www.boundless.com Wikimedia."Gold-Quartz-34577."CC BY-SAhttp://commons.wikimedia.org/wiki/File:Gold-Quartz-34577.jpgView on Boundless.com

  32. Product and Pricing Strategies Optimization Optimization point at x1, x2. Free to share, print, make copies and changes. Get yours at www.boundless.com Wikimedia."TE-Utility-Optimization."CC BY-SAhttp://commons.wikimedia.org/wiki/File:TE-Utility-Optimization.pngView on Boundless.com

  33. Product and Pricing Strategies Market Share Mobile phone market share in Q3 2008 Free to share, print, make copies and changes. Get yours at www.boundless.com Wikimedia."Mobile phone manufacturers market share in Q3-2008."CC BY-SAhttp://commons.wikimedia.org/wiki/File:Mobile_phone_manufacturers_market_share_in_Q3-2008.pngView on Boundless.com

  34. Product and Pricing Strategies Mercedes Benz SLR McLaren Mercedes Benz executes a premium pricing strategy. Free to share, print, make copies and changes. Get yours at www.boundless.com Fotopedia.CC BY-SAhttp://www.fotopedia.com/items/flickr-107360969View on Boundless.com

  35. Product and Pricing Strategies Brands Good branding gives a company several advantages, including establishing a positive reputation and building an image attractive to consumers. Free to share, print, make copies and changes. Get yours at www.boundless.com Free Pik."World-famous brand logo vector material | Download free Vector."CC BYhttp://www.freepik.com/free-vector/world-famous-brand-logo-vector-material_509059.htmView on Boundless.com

  36. Product and Pricing Strategies Convenience Goods Convenience goods are typically found in convenience stores, such as the one pictured here. Free to share, print, make copies and changes. Get yours at www.boundless.com Flickr."All sizes | Through A Mirror Dumbly | Flickr - Photo Sharing!."CC BY-SAhttp://www.flickr.com/photos/mikeschmid/1347273999/sizes/m/in/photostream/View on Boundless.com

  37. Product and Pricing Strategies Price Skimming Video game systems, such as the Sony PS3, usually employ the classic new product pricing strategy, known as skimming. Free to share, print, make copies and changes. Get yours at www.boundless.com Flickr."All sizes | ps3 | Flickr - Photo Sharing!."CC BYhttp://www.flickr.com/photos/smemon/4234593311/sizes/m/in/photostream/View on Boundless.com

  38. Product and Pricing Strategies Product Testing This is a photo of a temperature and humidity chamber used to simulate transport, warehouse environments, and shelf life conditions of a packaged product. Free to share, print, make copies and changes. Get yours at www.boundless.com Wikimedia."Environmental chamber."Public domainhttp://commons.wikimedia.org/wiki/File:Environmental_chamber.jpgView on Boundless.com

  39. Product and Pricing Strategies Stop & Shop Price Cruncher A British Stop & Shop ad from the 1994 holiday season, informing consumers what they would save on the purchase of each item. Free to share, print, make copies and changes. Get yours at www.boundless.com Flickr."Stop & Shop Price Cruncher Mail Shot - Late December 1994 - Page 1 | Flickr - Photo Sharing!."CC BY 2.0http://www.flickr.com/photos/damo1977/4622514530/lightbox/View on Boundless.com

  40. Product and Pricing Strategies Extractive Products Quarries are examples of business that provide extractive products for other businesses. Free to share, print, make copies and changes. Get yours at www.boundless.com Wikimedia."Quarry."Public domainhttp://commons.wikimedia.org/wiki/File:Quarry.jpgView on Boundless.com

  41. Product and Pricing Strategies Prototypes One step in the product development process is technical development. Free to share, print, make copies and changes. Get yours at www.boundless.com Flickr."All sizes | The X-Ray Car | Flickr - Photo Sharing!."CC BYhttp://www.flickr.com/photos/jurvetson/5061260090/sizes/m/in/photostream/View on Boundless.com

  42. Product and Pricing Strategies Louis Vuitton Louis Vuitton sells luxury designer goods such as these suitcases. If Louis Vuitton merchandise was offered at low prices it might significantly undermine the brand value, much of which is based upon exclusivity. Free to share, print, make copies and changes. Get yours at www.boundless.com Flickr."All sizes | Louis Vuitton | Flickr - Photo Sharing!."CC BYhttp://www.flickr.com/photos/savingfutures/3942180902/sizes/m/in/photostream/View on Boundless.com

  43. Product and Pricing Strategies Quaker Oats man A Quaker Oats promotion at a Publix grocery store. Free to share, print, make copies and changes. Get yours at www.boundless.com Flickr."All sizes | "Too often we underestimate the power of touch, a smile, a kind word, a listening ear" ~ | Flickr - Photo Sharing!."CC BYhttp://www.flickr.com/photos/turtlemom_nancy/5565994509/sizes/m/in/photostream/View on Boundless.com

  44. Product and Pricing Strategies Brand logo Brand awareness refers to thecustomer's ability to recall and recognize the brand under different conditions,using memory associations to link to the brand name, logo, jingles, and so forth. Free to share, print, make copies and changes. Get yours at www.boundless.com Flickr."All sizes | Brands | Flickr - Photo Sharing!."CC BYhttp://www.flickr.com/photos/nnova/2756729384/sizes/m/in/photostream/View on Boundless.com

  45. Product and Pricing Strategies Commercialization Bringing new products to market will require creative marketing techniques to achieve success like Red Bull did by creating mascot automobiles. Free to share, print, make copies and changes. Get yours at www.boundless.com Flickr."Red Bull - Redbull | Flickr - Photo Sharing!."CC BY-SAhttp://www.flickr.com/photos/luc/2392499111/View on Boundless.com

  46. Product and Pricing Strategies Price Differentiation The airline industry implements price differentiation schemes. Free to share, print, make copies and changes. Get yours at www.boundless.com Wikimedia."An American Airline's jet."CC BY-SAhttp://commons.wikimedia.org/wiki/File:An_American_Airline's_jet.JPGView on Boundless.com

  47. Product and Pricing Strategies Cost-based Pricing Cost-based pricing model Free to share, print, make copies and changes. Get yours at www.boundless.com Wikimedia."Figure Cost Based Pricing."CC BY-SAhttp://commons.wikimedia.org/wiki/File:Figure_Cost_Based_Pricing.jpgView on Boundless.com

  48. Product and Pricing Strategies Brand Touch-point Wheel As a supplement to the various strategies listed above, these touch-points indicate where the tactics of these strategies will come into play. Understanding where the organization will be in direct communication with a prospective consumer is imperative to ensuring messaging is clean, consistent, and clear across the board. Free to share, print, make copies and changes. Get yours at www.boundless.com Wikimedia."2_Touch_Point_Wheel.jpg."CC BY-SA 3.0https://upload.wikimedia.org/wikipedia/commons/d/db/2_Touch_Point_Wheel.jpgView on Boundless.com

  49. Product and Pricing Strategies Technological Innovation Chart In the figure above the first curve shows a current technology. The second shows an emerging technology that currently yields lower growth but will eventually overtake current technology and lead to even greater levels of growth. Free to share, print, make copies and changes. Get yours at www.boundless.com Wikimedia.CC BY-SAhttp://upload.wikimedia.org/wikipedia/commons/e/e0/InnovationLifeCycle.jpgView on Boundless.com

  50. Product and Pricing Strategies SWOT Analysis Here is an example of the SWOT analysis matrix. Free to share, print, make copies and changes. Get yours at www.boundless.com Wikimedia."File:SWOT en.svg - Wikimedia Commons."CC BY-SAhttp://commons.wikimedia.org/w/index.php?title=File:SWOT_en.svg&page=1View on Boundless.com