Module 09
Pricing Products
Elements of The Marketing Mix
PRICE
General Price Approaches
• Cost-Based
• Value-Based
• Competitor-Based
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PRICE cont.
• Pricing Strategy
• Importance of:
– knowing the market
– elasticity
– keeping an eye on
rivals
PEOPLE
• People represent the business
☻The image they present can be important
☻First contact often human – what is the
lasting image they provide to the customer?
☻Extent of training and knowledge of the
product/service concerned
☻Mission statement – how relevant?
☻Do staff represent the desired culture of the
business?
PEOPLE cont.
•
•
•
•
Employees
Management
Culture of organisation
Attitude to customer
service
PROCESS
• How do people consume
services?
• What processes do they have to
go through to acquire the
services?
• Where do they find the
availability of the service?
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–
–
–
–
–
Contact
Reminders
Registration
Subscription
Form filling
Degree of technology
Physical Environment
• The ambience, mood or
physical presentation of the
environment
– Smart/shabby?
– Trendy/retro/modern/old
fashioned?
– Light/dark/bright/subdued?
– Romantic/chic/loud?
– Clean/dirty/unkempt/neat?
– Music?
– Smell?
ACTIVITY
Tasks:
• To what extent do you think that Anantara's
Marketing Mix (product and price elements)
reflects the organisation's mission statement?
• Outline some of the issues that you would
expect to have affected Anantara's marketing
efforts in the past two years.
• What kind of market research activities do you
think Anantara would have carried out before
offering the elephant camp experience?
• Produce a one-page leaflet promoting the
services offered by the Elephant Camp.