MARKETING

Everything you need to no about marketing

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  • Created by: Ben Frost
  • Created on: 29-05-09 12:02

Pricing Definitions

Break Even Pricing

the cost involved in providing the product - usually set as the minimum level of price

Cost-Plus Pricing

Establishing the total costs involved in producing a product and adding a fixed mark up!

Variable Pricing

A pricing strategy wherein a retailer alters its prices to coincide with fluctuations in costs or consumer demand.

Market Skimming Strategy

The practice of ‘price skimming’ involves charging a relatively high price for a short time where a new, innovative, or much-improved product is launched onto a market.

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Pricing Definitions

Market Penetration

A pricing policy whereby inventory prices are set very low to gain market control or penetration. Once obtained, prices are raised back to market

Competitive Pricing

A marketing-oriented strategy whereby a service retailer sets its prices on the basis of the prices charged by competitors.

Discount Pricing

Offering a reduced price/rate for certain types and groups of customers.

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HOLBECK PRICING SYSTEMS

  • DISCOUNT PRICING - offer discount rates to schools and colleges



  • ROVER Ticket - yearly ticket priced at £15



  • VARIABLE PRICING - rates are reduced between October and Easter as there are less exhibitions available
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PEST (Linked to HOLBECK)

Political

  • changing of the school curriculum
  • relationship between the council and the private sector

Economical

  • Credit Crunch/Recession
  • Reduction of funding from the council

Social

  • growth in home based leisure
  • ageing population - museum targets school children and families

Technological

  • Electronic stock control programme
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SWOT (Linked to HOLBECK) 1

Strengths

  • 30 mins by car from major city
  • Holbeck has a core team of staff

Weaknesses

  • Lack of public transport to the museum
  • Suffers from seasonality
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SWOT (Linked to HOLBECK) 2

Opportunities

  • School Holidays are very popular
  • Shop
  • Sponsors new exhibitions

Threats

  • Decline in weather conditions
  • Change in national curriculum
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