University of Illinois at Chicago Fighting Price Wars Powerpoint: Management Answers 2021

University of Illinois at Chicago Fighting Price Wars Powerpoint: Management Answers 2021

University of Illinois at Chicago Fighting Price Wars Powerpoint: Management Answers 2021

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University of Illinois at Chicago Fighting Price Wars Powerpoint

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Pricing Strategies
Alexandra Carabello
– Reasons Why to
Price Strategize

Price strategize is a strategize that is quick and
easy, that will allow you to deter new rivals or
entrants and allows you to increase market
share and compete against existing rivals.
overtourism & ticket price increases
An example of Price Strategizing is when Bobs
Sandwich is trying to compete with Jacks Sandwich.
Bobs Sandwich has decided they wanted to capture
more of the market share. To do this they are use
random price strategizing. They are going to lower
prices to compete with Jacks Sandwich and make
more of a market share and take away customers
from them.
Customer-Based Pricing
Different Price
Stratgies

Ex: Jacks Sandwich prices there sandwiches
where they know that customers will still buy it.
This is where they price the good on where
Jacks Sandwiches perceives there sandwiches
are valued at.
Cost-Plus Pricing

This strategy is where you take what it costs to
make the item and then then add a mark up
value percentage and sell the item at that
price.
Competitive Pricing

This is where two competitors either keep
rising or lowering prices to compete with
eachother
How to Fight a Price War
When to fight a price war?
Ways to Fight a Price War
Example
CUSTOMER ISSUES
Tactic
Nonprice Responses
Reveal your strategic
intentions and capabilities
Price sensitivity
Segmentation
Offer to match competitors’ prices, offer
everyday low pricing, or reveal your cost
advantage
Compete on quality
COMPETITOR ISSUES
Cost structures
Capabilities
Strategic positioning
CONTRIBUTOR ISSUES
Incentives of
• resellers suppliers
.allies
government
Increase item differentiation by adding
features to a item, or build awareness
of existing features and their benefits.
Emphasize the performance risks in low-
priced options.
Co-opt contributors
COMPANY ISSUES
Cost structures
Capabilities
Strategic positioning
Form strategic partnerships by offering
cooperative or exclusive deals with
suppliers, resellers, or providers of related
services
Price Responses
Use complex price actions
Offer bundled prices, two-part pricing,
quantity discounts, price promotions, or
loyalty programs for items
Introduce new items
How to fight a price war?
o Non-price responses
Price responses
Introduce flanking brands that compete
in customer segments that are being
challenged by competitors
Deploy simple price
actions
Adjust the item’s regular price in
response to a competitor’s price change or
another potential entry into the market
Rao, Bergen, and Davis, HBR, 2000
4-Aug-20
Competitive Dynamics/H. Lee
62

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