1、外文文献及译文文献、资料题目：New-Product Pricing Strategies文献、资料来源：著作文献、资料发表（出版）日期：2000.4外文文献：Principles of Marketing1.New-Product Pricing StrategiesPricing strategies usually change as the product passes through its life cycle. The introductory stage is especially challenging. We can distinguish between pricing
2、a product that imitates existing products and pricing an innovative product that is patent protected.A company that plans to develop an imitative new product faces a product-positioning problem. It must decide where to position the product versus positioning strategies. First， the company might deci
3、de to use a premium pricing competing products in terms of quality and price. Figure 17.1 shows four possible strategy - producing a high-quality product and charging the highest price. At the other extreme， it might decide on an economy pricing strategy - producing a lower-quality product， but char
4、ging a low price. These strategies can coexist in the same market as long as the market consists of at least two groups of buyers， those who seek quality and those who seek price. Thus， Tag-Heuer offers very high-quality sports watches at high prices， whereas Casio offers digital watches at almost t
5、hrowaway prices.Companies bringing out an innovative， patent-protected product face the challenge of setting prices for the first time. They can choose between two strat-egies： market-shimming pricing and market-penetration pricing.(1) Market-Skimming PricingMany companies that invent new products i
6、nitially set high prices to skimrevenues layer by layer from the market. Intel is a prime user of this strategy， called market-skimming pricing. When Intel first introduces a new computer chip， it charges the highest price it can，given， the benefits of the new chip over competing chips. It sets a pr
7、ice that makes it just worthwhile for some segments of the market to adopt computers containing the chip. As initial sales slow down and as competitors threaten to introduce similar chips， Intel lowers the price to draw in the nest price-sensitive layer of customers.(2) Market-Penetration PricingRat
8、her than setting a high initial price to skim off small but profitable market segments， some companies use market-penetration pricing. They set a low initial price in order to penetrate the market quickly and deeply - to attract a large number of buyers quickly and win a large market share. The high
9、 sales volume results in falling costs， allowing the company to cut its price even further. For example， Dell and Dan used penetration pricing to sell high-quality computer products through lower-cost mail-order channels. Their sales soared when IBM， Compaq， Apple and other competitors selling throu
10、gh retail stores could not match their prices. The Bank of Scotland and Winterthur of Switzerland used their Direct Line， Privilege and Churchill subsidiaries to grab profits and share in the motor insurance market by selling direct to consumers at market-penetrating prices. The high volume results
11、in lower costs that， in turn， allow the discounters to keep prices low.Several conditions favour setting a low price. First， the market must be highly price sensitive， so that a low price produces more market growth. Second， production and distribution costs must fall as sales volume increases. Fina
12、lly， the low price must help keep out the competition - otherwise the price advantage may he only temporary. For example， Dell faced difficult times when IBM and Compaq established their own direct distribution channels.2.Product-Mix Pricing StrategiesThe strategy for setting a products price often
13、has to he changed when the product is part of a product mix. In this case， the firm looks for a set of prices that maximizes the profits on the total product mix. Pricing is difficult because the various products have related demand and costs， and face different degrees of competition. (1) Product L
14、ine PricingCompanies usually develop product lines rather than single products. For example， Merlonis sells Indesit， Ariston and Seholte with price and status ascending in that order. There arc full ranges of Indesit to Ariston appliances， from washing machines to freezers， covering the first two pr
15、ice hands， while Scholte sells expensive built-in kitchen equipment. Kodak offers not just one type of film， hut an assortment including regular Kodak film， higher-priced Kodak Royal Gold film for special occasions， and a lower-priced， seasonal film called Runtime that competes with store brands. Ea
16、ch of these brands is available in a variety of sizes and film speeds. In product line pricing， management must decidion the price steps to set between the various products in a line.The price steps should take into account cost differences between the prod-ucts in the line， customer evaluations of
17、their different features and competitors prices. If the price difference between two successive products is small， buyers will usually buy the more advanced product. This will increase company profits if the cost difference is smaller than the price difference. If the price difference is large， howe
18、ver， customers will generally buy the less advanced products.(2) Optional-Product PricingMany companies use optional-pro duet pricing - offering to sell optional or acces-sory products along with their main product. For example，a ear buyer may choose to order power windows， cruise control and a radi
19、o with a CD player. Pricing these options is a sticky problem. Car companies have to decide which items to include in the base price and which to offer as options. BMWs basic cars come famously under equipped. Typically the 318i is about DM40，000， but the customer then has to pay extra for a radio (
20、prices vary)， electric windows (DM700)， sun roof (DM! ，800) and security system (DM1，100). The basic model is stripped of so many comforts and conveniences that most buyers reject it. The pay for extras or buy a better-equipped version. More recently， however， American and European car makers have b
21、een forced to follow the example of the Japanese car makers and include in the basic price many useful items previously sold only as options. The advertised price now often represents a well-equipped car.(3) Cap Live-Pro duct PricingCompanies that make products that must be used along with a main pr
22、oduct are using captive-product pricing. Examples of captive products are razors， camera film and computer software. Producers of the main products (razors， cameras and computers) often price them low and set high mark-ups on the supplies. Thus Polaroid prices its cameras low because it makes its mo
23、ney on the film it sells. And Gillette sells low-priced razors， but makes money on the replacement blades. Camera makers that do not sell film have to price their main products higher inorder to make the same overall profit.(4) By-Product PricingIn producing proeessed meats， petroleum products， chem
24、icals and other products， there are often by-products. If the by-products have no value and if getting rid of them is costly， this will affect the pricing of the main product. Using by-product pricing， the manufacturer will seek a market for these by-products and should accept any price that covers
25、more than the cost of storing and delivering； them. This practice allows the seller to reduce the main products price to make It more competitive. By-products can even turn out to be profitable. For example， many lumber mills have begun to sell bark chips and sawdust profitably as decorative mulch f
26、or home and commercial landscaping.Sometimes companies dont realize how valuable their by-products are. For example， most Zoos dont realize that one of their by-products their occupants manure - can be an excellent source of additional revenue. But the Zoo-Doo Compost Company has helped many zoos un
27、derstand the costs and opportunities involved with these by-products. Zoo-Dolicenses its name to zoos and receives royalties on manure sales. Manyzoos dont even know how much manure they are producing or the cost of disposing of it， explains president and founder Fierce Ledbetter. Zoos are often so
28、pleased with any savings they can find on disposal that they dont think to move into active by-product sales. However， sales of the fragrant by-product can be substantial. So far novelty sales have been the largest， with tiny containers of Zoo Doo (and even Love， Love Me Doovalentines) available in
29、160 zoo stores and 700 additional retail outlets. For the long-term market， Zoo-Doo looks to organic gardeners who buy15 to 70 pounds of manure at a time. Zoo Doo is already planning a Dung of the Month club to reach these lucrative by-product markets.(5) Product-Bundle PricingUsing， product-bundle
30、pricing， sellers often combine several of their products and offer the bundle at a reduced price. Thus theatres and sports teams sell seas on tickets at less than the cost of single tickets； hotels sell specially priced packages that include room， meals and entertainment； computer makers in elude at
31、tractives of ware packages with their personal computers. Price bundling can promote the sales of products that consumers might not otherwise buy， but the combined price must be low enough to get them to buy the bundle. In other cases， product-bundle pricing is used to sell more than the customer re
32、ally wants. Obtaining a ticket to an exclusive sports event is difficult， but World Cup football finals tickets are available to people willing to buy them bundled with a supersonic Concorde flight.3. Price-Adjustment StrategiesCompanies usually adjust their basic prices to account for various custo
33、mer differences and changing situations. Seven price-adjustment strategics： discount and allowance pricing， segmented pricing， psychological pricing， promotional pricing， -value pricing， geographical pricing and international pricing.(1) Discount and Allowance PricingMost companies adjust their basi
34、c price to reward customers for certain responses， such as early payment of bills， volume purchases and off-season buying. These price adjustments - called discounts and allowances - can take many forms.A cash discount is a price reduction to buyers who pay their bills promptly， Atypical example is
35、2/10， net 30. which means that although payment is due within 30 days， the buyer can deduct 2 per cent if the hill is paid within 10 days. The discount must be granted to all buyers meeting these terms. Such discounts are customary in many industries and help to improve the sellers cash situation an
36、d reduce bad debts and credit-collection costs.A quantity discount is a price reduction to buyers who buy large volumes. Atypical example might be K10 per unit for less than 100 units， $9 per unit for 100or more units. Wine merchants often give twelve for the price of eleven andMakro， the trade ware
37、house， automatically gives discounts on any product bought in bulk. Discounts provide an incentive to the customer to buy more from one given seller， rather than from many different sources.A quantity premium is sometimes charged to people buying higher volumes. In Japan it often costs more per item
38、 to buy a twelve-pack of beer or sushi than smaller quantities because the larger packs are more gift able and therefore less price sensitive. Quantity surcharges can also oecur when die product being bought is in short supply or in sets - for example， several seats together at a sold-out rock conce
39、rt or sports event - and some small restaurants charge a premium to large groups. Similarly， in buying antiques， it costs more to buy six complete place settings of cutlery than a single item. In this case the price will continue toincrease with volume， eight place settings costing more than six， an
40、d twelve place settings costing more than eight. Quantity premiums are more common than people imagine， and that is why they work. Consumers expect prices to deerease with volume and so do not check unit prices. This allows retailers to slip in high-margin items. Quantity surcharge increases with th
41、e variety and complexity of pack sizes and， in some markets， over 30 per cent of ranges include some quantity surcharging.A trade discount (also called a functional discount) is offered by the seller to trade channel members that perform certain functions， such as selling， storing and record keeping
42、. Manufacturers may offer different functional discounts to different trade channels because of the varying services they perform， but manufacturers must offer the same functional discounts within each trade channel.A seasonal discount is a price discount to buyers who buy merchandise orservices out
43、 of season. For example， lawn and garden equipment manufacturers will offer seasonal discounts to retailers during the autumn and winter to encourage early ordering in anticipation of the heavy spring and summer selling seasons. Hotels,motels and airlines will offer seasonal discounts in their slowe
44、r selling periods. Seasonal discounts allow the seller to keep production steady during the entire year.Allowances are another type of reduction from the list price. For example， trade-in allowances are price reductions given for turning in an old item when buying a new one. Trade-in allowances are
45、most common in the car industry， but are also given for othe rdurable goods. Promotional allowances are payments or price reductions to reward dealers for participating in advertising and sales-support programmes.(2) Segmented PricingCompanies will often adjust their basic prices to allow for differ
46、ences in customers， products and locations. In segmented pricing， the company sells aproduct or service at two or more prices， even though the difference in prices is not based on differences in costs. Segmented pricing takes several forms：* Customer-segment pricing. Different customers pay differen
47、t prices for thesame product or service. Museums， for example， will charge a lower admission for young people， the unwaged， students and senior citizens. Inmany parts of the world， tourists pay more to see museums， shows andnational monuments than do locals.* Product-form pricing. Different versions
48、 of the product are priced differently， but not according to differences in their costs. For instance， the Dutch company Skil prices its 6434H electric drill at DF1200， which isDF1125 more than the price .of its 6400H. The 6434H is more powerful and has more features， yet this extra power and featur
49、es cost only a few more guilders to build in.* Location pricing. Different locations are priced differently， even though the cost of offering each location is the same. For instance， theatres vary theirs cat prices because of audience preferences for certain locations and EU universities charge higher tuition fees for non-EU students.* Time pricing. Prices vary by the season， the month， the day and even the hour. Public utilities vary their prices to commercial users
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