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How to enhance pricing levels and still remain competitive
Tags :
marketing, product, financial services, retail banks, banking, analytics, distribtuion, branding, pricing
Industry :
Banking
Functional Area : Pricing |
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About "How to enhance pricing levels and still remain competitive" topic:
How to enhance pricing levels and still remain competitive
2 insight
, 4 debates
, 1 idea contests
, 2 question
on topic: "How to enhance pricing levels and still remain competitive"
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In most cases, price wars start because a hotel is trying to stop the declining demand, or one hotel figures that they can buy market share using their current profit margins as a trade off. Dropping prices to stimulate demand or buy market share comes with its own set of penalties. Hotels, like many other businesses, operate in a competitive environment. Generally, when one hotel makes a bid to buy market share through price reductions, any revenue from market share that is gained is soon lost when a competitor retaliates by undercutting the reduced price and the hotel is forced to sell at even lower rate levels that endanger its profit margins. Subsequently, when these hotels try to incre...
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Manish Trehan
| Commented
| 3 years ago
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Yes infact the Hotels go on a price war during this time when there is very less business happening, but when market becomes stable and when they again increase the price...consumer will not oblige in the same manner, and i also agree with the...
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Insight: "Hoteliers’ price wars" deleted from your view.
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Discounting
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10
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5
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Price Reduction
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Alka Thakur
| Argues in support of
"Discounting"
| 2 years ago
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I am in total agreement with Dr. Siddharth Verma. Occassional discounts or promos would suffice!!
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Jaygopal Raghavan
| Argues in support of
"Price Reduction"
| 2 years ago
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Both are harmful for the brand in the long run. But i am slighlty inclined towards a price reduction as that not only has a positive impact on the brand but also has the option of going back to the original price after the promo period. Whereas a...
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joy chatterjee
| Argues in support of
"Price Reduction"
| 2 years ago
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Both price reduction and discounting effect the brand equity. The only difference lies in the execution of the plan. Discounting on a regular priced product causes impulse and is seen as increase in offtakes. Discounting acts as a catalyst in...
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Debate: "Discounts or Price reduction which one is better for long term goals of a brand" deleted from your view.
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Price
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3
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11
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Quality
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Ekta Mehta
| Argues in support of
"Quality"
| 7 months ago
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Quality is the top most priority for every one. That doesn't mean "Quality" comes only with High Price.. NO !! Good quality products can come in Low price or at affordable price. For instance: Most of the Indian Woman use Godrej Hair dye..Do I...
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Shabana Khan
| Argues in support of
"Price"
| 2 years ago
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If this question has been asked to a high society man, he will say "Quality" immaterial of price. If this question is asked to a Poor man, he will say "Price" and an average class person will say "Both Product and price". Same case is with me. I...
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Makrand Bhave
| Argues in support of
"Quality"
| 2 years ago
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Mr. Shah, where does BRAND feature here?? Brand needs a much stronger mention than just price and quality of a product!! Its the brand which decides the course of action of the buyer!! The packaging and the price and the quality are much later in...
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Debate: "What do you consider while purchasing the product, Price or Quality or both?" deleted from your view.
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Today, I noticed that one of my competitor who is the first mover in the industry and has great reputation in the market has sliced their pricing by half of its original prices and come to the level ...
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Makrand Bhave
| Answered
| 2 years ago
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That is a good sign!! By pricing it at half the competitors level, you have placed your product on a pedestal that says, " Here I am. I am equally good and I am more cheaper than my early starters. I am here to stay and I care for your hard...
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Nitin M Aras
| Answered
| 2 years ago
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Good strategy Makrand .... appreciated
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Answer: "Compititor slice thier pricing to half of their original price, how to counter it" deleted from your view.
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Who sells the largest number of cameras in India? Your guess is probably Sony, Canon or Nikon. The answer is none of the above. The winner is Nokia, whose main industry in India is not cameras, but cell phones. Therefore, cameras bundled with mobile phones are overselling and outstand alone cameras. Now, what prevents mobile phone will replace your camera directly? Nothing. One can only hope that Sony's and Canon's notes. Try this. Who is the biggest music business in India? You think it's HMV Sa-Re-Ga-Ma? Sorry. The answer is Airtel. By selling call melodies (that play for 30 seconds) Airtel makes more than what music companies by selling music albums (that run for hours). Incidentally Air...
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Shanmugasundaram
| Commented
| 2 years ago
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my dear friend,,the heading is supurb..But,no one got patients to read all these..Try to make it short and simple. As u r saying,the compitition can come from any corner in a unjustified way. And always,big players are making them ready to face...
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Insight: "Who is your competition?" deleted from your view.
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bhaskarreddy
| Answered
| 1 year ago
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Share prices are fluctuated depends up on 1. Company fundamentals, 2. Company Results (profit/loss) 3. Volume of shares trading in market 4. Depends up on competitive companies And other market situations Thanks Bhaskar
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Latha Baskar
| Answered
| 1 year ago
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This link might help you http://wiki.answers.com/Q/Why_share_prices_fluctuate Thanks
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Answer: "how the share prices are fluctuated" deleted from your view.
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Yes
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11
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VS |
5
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No
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Suryakumar Sharma
| Argues in support of
"No"
| 11 months ago
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Cutting price is like giving a pound of flesh for free. As a brand one needs to play the game of chess in such a way that you are one step ahead of competition. In this cut throat competition one needs to be innovative, • To keep the consumer...
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s.baalu
| Argues in support of
"Yes"
| 1 year ago
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As time passes away manufacturers start enjoying economies of operation which can be passed on to the consumer.
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Sujatha srivastava
| Argues in support of
"Yes"
| 1 year ago
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Yes sometimes it is necessary.... That would help you to survive in the market... And improving the quality and reducing the price might sometimes increase your sales...
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Debate: "Do we as a brand need to cut down pricing to sustain in the cut throat competition" deleted from your view.
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1
Find the niche market for your products.
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Anand Hisaria
| Added idea
"Find the niche market for your products."
| 1 year ago
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It has been noticed that the products of excellent and unmatched quality are often priced much much higher than the similar products of low quality by rivals. The reason is obvious, the production cost of the products having excellent quality is...
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Ideate: "What is the best idea to sale products of excellent quality that are priced very highly when rivals prices are very low?" deleted from your view.
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government
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1
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VS |
0
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we
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Mrityunjay Pandey
| Argues in support of
"government"
| 7 months ago
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we are responsible for price hike ...
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Debate: "who is responsible for price hike?" deleted from your view.
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