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PRICING

Price: Zeithaml (1988) mengemukakan bahwa dari perspektif konsumen, hargaadalah perihal apa yang diberikan atau dikorban dalam upaya untuk memperolehsuatu produk. Jacoby dan Olson (1977) dalam Zeithaml (1988) membedakan hargamenjadi harga obyektif (harga aktual dari suatu produk) dan perceived price (hargamenurut konsumen).

Objective VS Perceived Price


Objective Price: observed price or stated price Perceived Price: how consumers perceive the objective price. What is perceived: fairness, expensive VS cheap; price-quality relationship. Determinants of Perceived price:
1. Price reference 2. Price-quality relationship 3. Price endings

Price Reference

PRICE-QUALITY INFERENCES Many consumers use price as an indicator of quality.


it happens only when consumer has no other clue to evaluate product quality.

PRICE ENDINGS Many sellers believe


prices should end in an odd number $299 as being in the $200 rather than the $300 range;

Negative VS Positive Role of Price


Negative role: treat price as cost, so the cheaper is the more favorable. Positive role: treat price as prestige symbol, so the expensive is the more favorable.

SETTING THE PRICE


1. 2. 3. 4. Setting Price Objective Determiing Demand Estimating Cost Analysisng cometitors price, cost, and offering 5. Selecting Price Method 6. Selecting Final Price

1. Setting Price Objective


Price objective:
1. 2. 3. 4. Survive: setting price just to cover cost Maximum current profit: setting high price Maximum markte share: setting low price Product Quality leadership: setting premium price

2. Determining Demand
Determining price sensitivity (price-demand elasticity). Estimating demand curve

3. Estimating Cost
Determing type of cost (fixed cost, variable cost) Estimating cost production

4. Analyzing Competitors
the company will need to research the competitors current financial situation, recent sales, customer loyalty, and corporate objectives. If the competitor has a market share objective, it is likely to match price differences or changes. If it has a profit-maximization objective, it may react by increasing its advertising budget or improving product quality

Selecting Price Method


1. Cost Based: setting price based on cost of production and profit margin. 2. Market Based: setting price based on price of competitors. 3. Value Based: setting price based on perceived value of consumers

6. Selecting Final Price


Setting final price Price discount Responding to competitors price changes

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