Pricing Strategy An Introduction

An introduction to the subject of Pricing Strategy and an overview of some of the tools and theories available in connection with the determining of price of a product or a service. This video is aimed at marketing management students.

[@mcnecho927]

TLDW: A pricing strategy is a process for determining the most effective price for a product or service. It can assist you in setting prices to maximize profits while taking customer and market demand into account. Additionally, it is important to set the “right” price because if you set the pricing of your products too high then you are Rasing the bar of entry and reducing the number of potential customers you will get, but setting the price of your products too low, can affect the way people view your product, and they might think that it isn't of good quality. If you set your prices too low, it might make a potential customer assume that the products are of low quality, and so they may choose to not look at your products and see their quality themselves just because of the price. One tool regarding how to determine a pricing strategy is cost-oriented pricing. This is where we would set the product price depending on the cost of the different processes involved in creating the process. -for all my fellow marketing students

[@Om_mohammed158]

Thanks

[@Om_mohammed158]

Thank u that was so helpful for my masters exam study . Ur alife saver . The video was well explained and easy to understand the idea o price strategies and the connections with marketing mix

[@TineWade]

You are very welcome. I'm glad you found the video helpful.

[@tariqshafishah6791]

Hi Tine. In just lest than 9 minutes you described the concept of pricing strategy very efficiently. I am not MBA or any business student , I am just college graduate with no background of Marketing or Business Knowledge..I must say that your video even made me understand how the Pricing strategy works. I work as Export Sales Manager for a Wheat Flour Industry and regularly require to plan pricing for each market and individual customers. Now It will be more easy to decide what pricing strategy I will apply before quoting to customer. Thanks and Regards Tariq

[@TineWade]

Dear Tariq. You are welcome. And thank you for your comments. Sometimes a few simple guidelines can make a big difference, so I am pleased to hear that you have gained valuable knowledge, which you feel you can use in your daily work. Regards, Tine

[@AaronB453]

Very, very helpful for marketing plan assignment. Thank you! Will read recommended resource for further support.

[@TineWade]

I am pleased to hear that you found the video helpful for your marketing plan assignment. Thank you for your comment. And best of luck with your assignment. Regards, Tine Wade.

[@sopiyanchannel427]

Excellent content and presentation. Thank you!

[@TineWade]

You are welcome. And thanks for leaving a comment. All the best. Regards, Tine.

[@tashanwithme]

wow! probably one of the best video about pricing strategy. very well put together. ty!!

[@TineWade]

I am glad to hear that you liked the video. Thanks for leaving a comment👍. Regards, Tine

[@Iliketrainsbrooooom]

I still don't understand why my professor is so bad and he is a main lecturer and you are here on youtube :( thanks a lot!!!

[@TineWade]

You're very welcome. I'm glad you find my videos helpful :)

[@marcellorenatto]

the voice audio could be of better quality (just as the sonng in the background)

[@TineWade]

Thank you for your feedback. Yes, you are right. Some white noise can be heard in the audio on this video. I have since found a better setting when recording the voice over. This improves sound quality and removes "white noise". The more recent videos on my channel should reflect this (Internationalization proces playlist).

[@ivanvanechok1679]

Tine Wade it’s very pleasent to see that you read the comments and reply

[@TineWade]

@@ivanvanechok1679 👍 I appreciate the feedback, and find it polite to respond. As long as everyone keeps a good tone of course, and almost everyone does. And for some reason I just saw your comment now, 3 weeks after you posted it :). Well, better late than never. Kind regards, Tine Wade.

[@juliaharrison2486]

Great video! very useful and very well explained. Is there any more videos like this one?

[@TineWade]

Dear Julia. Thank you for your comments. I am pleased that you found this video about Pricing Strategy useful. Yes, I have made 5 videos in total about the Marketing Mix ("Pricing Strategy", "Defining Products", "Distribution Strategy", "Integrated marketing campaigns", "The Global Marketing Mix"). You can see all of them if you click on my channel and then on the tab, videos. I hope you will find them useful too. Regards, Tine

[@sheelashibu9929]

Thank you, Tine Wade my sista Nice illustrations and explanation

[@TineWade]

You are very welcome. I am glad you liked the video. Thank you for your comment. Regards, Tine Wade.

[@anilayatisarim4022]

Appreciate your hard work! Thanks a lot!

[@TineWade]

You are very welcome. Thanks for your comment 👍

[@sabiiladinakamila9627]

Thank you for the video, it is very helpful

[@TineWade]

You are very welcome. I'm glad you found it helpful. Regards, Tine.

[@fivecorekhi]

Excellent , crystal clear ,love it!

[@TineWade]

Hello fivecore khi. I am glad you liked it. Thank you for the comment. Regards, Tine.

[@wahyubudiman7447]

I like this video

[@krfoods2171]

Wow this is really instructive

[@TineWade]

Thank you for your comment. I am glad that you find my video instructive. Regards, Tine

[@arshadm5698]

good effort

[@TineWade]

Thanks. Regards, Tine

[@fehmidaghazal3290]

best explanation ever

[@TineWade]

Dear Fehmida Ghazal. I am glad you found the video helpful. Thank you for leaving a comment. Regards, Tine.

[@fehmidaghazal3290]

U r welcome. Can u upload more videos on other topics please.

[@conbenz]

Tine wade, great video. Thank you.

[@TineWade]

You are welcome. Thanks for the comment. Regards, Tine

[@yenimustikasari2365]

thanks

[@TineWade]

You are very welcome. Regards, Tine

[@hamidrezabakhtiari1537]

Hi Ms. Tine Great video I'm iranian and i Mba student. If you let me i can translate your videos to persian language and share this Between my friends and my people can i do this?

[@TineWade]

Dear Hamidreza Bakhtiari. Thank you for your comment and your interest in sharing my videos with your network. My videos are produced under the Creative Commons license. To be specific, the license used is called CC BY-NC-SA. You are welcome to share and adapt (for example translate) my videos as long as you give appropriate credit to me in a way that doesn't suggest the licensor (me) endorses you or your use of the material. The videos must not be used for commercial purposes, and the same creative commons license must be used in your adapted work. You can find the complete explanation of this license on the creative commons website: creativecommons.org/licenses/by-nc-sa/4.0/. If you are in doubt, feel free to ask. Regards, Tine Wade.

[@hamidrezabakhtiari1537]

Tanks this translate just for my college and my marketing class.

[@surajkharwar7411]

Informative video

[@TineWade]

Dear Suraj Kharwar. I am glad you found the video informative. Thank you for your comment. Regards, Tine Wade.

[@mevgod2160]

im ryan kothrade

[@ryankothrade3567]

that is me

[@navnitesh]

Very nice Overview

[@TineWade]

Dear Navnitesh Jha. I am glad to hear that the video provided a good overview. Thank you for sharing your feedback. Regards, Tine

[@haeun3745]

Great video

[@TineWade]

Thanks for the feedback. I'm pleased you liked the video. Regards, Tine.

[@daliveny5610]

very useful

[@friscoj68]

Sound not good. What is with that song? How did you write that way so it looks like typing?

[@TineWade]

Hi Carey Miller. Correct, the sound quality of this, my first videoscibe production, could be better. I hope you were able to gain some learning from the video anyway. To answer your question, videoscribe lets you choose the drawing and writing actions you wish to use -with or without hand, pens etc. The options are many :)

[@arielbauer1876]

Nice!

[@TineWade]

Thanks :)

[@bsdiceman]

Great

[@TineWade]

Thanks :)

[@kamranko1054]

THANK YOU.

[@TineWade]

You are very welcome :-)

[@bernardcourtney5379]

Fix the damn sound quality on your videos! Painful... Everything else 10/10...

[@TineWade]

Thanks for the 10/10 for everything else :). I will "fix the damn sound quality" if I get time one day. This was one of my first production, when I didn't have any experience in sound, and no real microphone for recording. And I agree -the sound could be a lot better. I hope you recovered from the pain. I guess from a free channel, you will have to live with it or move on ;) No hard feelings either way. I wish you all the best. Regards, Tine

[@atambupn1181]

Terima kasih atas vidionya

[@Sussex-Spaniel]

I find the constant hand writing irritating. It disrupts the flow...

[@TineWade]

Hello Greg. Thank you for your feedback. I tend to agree with you to some extent. This video production (Pricing strategy) was my first, and I was getting familiar with the technical options as I produced. In my more recent productions I have made more frequent use of the "no hand" option for the writing of text. Now I actually think that it creates some dynamics when making use of a combination of different writing options - some with the hand, some without, some with a coloured pen, as and where appropriate. And sometimes. less is more :). it is always a balance, and also different what the different viewers like. Thanks for engaging and providing your feedback. Regards, Tine

[@nickythepro5743]

Farrel Kerjain Tugas

[@Shmalentine]

Good info but the music is super annoying and distracting.

[@TineWade]

Dear Shmalentine. Thank you for your feedback. You are absolutely right, the audio is not perfect in this video. I experienced some difficulties in balancing the volume levels in music/voice and had a less than perfect microphone for the recording. I have sinced learnt to apply different techniques, which my later uploaded productions should reflect. I hope you were able to gain some insight anyway.

[@Shmalentine]

Not telling anyone what to do but my personal preference would be no music at all. It is very distracting regardless of how quiet it is. As long as it is audible (or even perceptible) my brain can't fully concentrate on the material presented. If you must have music at least don't make it the repetitive kind which plays the same 4 chords over an over as if hammering tiny nails into the brain. :) Again, this is just my personal preference. Thank you for making the video. Cheers.

[@TineWade]

:-) Thanks for the very graphic description of how the music obstructs your learning :-) Nails in brains was not the intended effect for sure. I will take your feedback into consideration. Have a nice day :-)

[@sicario91]

Excellent content and presentation. Thank you!

[@TineWade]

You are welcome. Thank you for your comment. Regards, Tine

[@ashleylorenjo]

Your videos are helpful

[@TineWade]

Thank you. I am glad you found the videos helpful. Thanks for leaving a comment. Regards, Tine

[@ikuyafukao8680]

Appreciate your hard work! Thanks a lot!

[@TineWade]

Dear Ikuya. You are welcome. I am glad you found the video useful. Regards, Tine.

[@ristimanajemen7403]

present ekonomi manajerial

[@dr.neerajdubey970]

Very interesting and systematic video. I must appreciate the same. Kindly share your email ID. Best regards

[@sutardisutardi8372]

Thank you for the video, it is very helpful in learning

[@kingston99]

Tine, thanks for sharing the video on the concept. I must say it is quite focussed, easy and interactive effort. Thank you and keep it up

[@TineWade]

You are very welcome. I am glad to hear that you like my video. Thank you for the comment. Regards, Tine

[@j.merchant-smith7900]

Awesome segment! I shared with my Marketing students because it's in line with our project!

[@TineWade]

Thank you for the comment. I am glad you find it educational for your students. All the best. Regards, Tine

[@eisamaleki9263]

Great

[@TineWade]

Thanks :)

[@macieka8200]

Doing some last-minute revision for my Mock Economics Exam (A-Level). Was really helpful, thanks!

[@TineWade]

You are welcome. I'm glad you found the video helpful. Best of luck with your A-levels! Regards, Tine.

[@anjumsalina3497]

Can you please upload a video on different tools and theories used in pricing strategy

[@TineWade]

Dear Imara. Thank you for your comment. I would like to create more videos about the different tools and theories used in pricing strategy. I will have your wish in mind, as and when time permits me creating more videos. Regards, Tine.

[@viditijajodia1063]

This was really helpful. Thanks :)

[@TineWade]

Hello Viditi Jajodia. You are very welcome. Thank you for the comment. Regards, Tine.

[@hermansulaiman3122]

thank you for the material, helpful @Dendi H. 014008415. UT Indonesia

[@TineWade]

You are welcome. I'm glad you found my video helpful. All the best. Regards, Tine