Compare and contrast pricing strategies of IPhone in China and UK. How much does location influence the pricing strategies of IPhone?

Compare and contrast pricing strategies of IPhone in China and UK. How much does location influence the pricing strategies of IPhone?

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Journal of Product & Brand Management
Matching Appropriate Pricing Strategy with Markets and Objectives
Charles R. Duke
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To cite this document:
Charles R. Duke, (1994),”Matching Appropriate Pricing Strategy with Markets and Objectives”, Journal of Product & Brand
Management, Vol. 3 Iss 2 pp. 15 – 27
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http://dx.doi.org/10.1108/10610429410061870
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Paul T.M. Ingenbleek, Ivo A. van der Lans, (2013),”Relating price strategies and price-setting practices”, European Journal of
Marketing, Vol. 47 Iss 1/2 pp. 27-48 http://dx.doi.org/10.1108/03090561311285448
Alistair Davidson, Mike Simonetto, (2005),”Pricing strategy and execution: an overlooked way to increase revenues and
profits”, Strategy & Leadership, Vol. 33 Iss 6 pp. 25-33 http://dx.doi.org/10.1108/10878570510631639
Nigel F. Piercy, David W. Cravens, Nikala Lane, (2010),”Thinking strategically about pricing decisions”, Journal of Business
Strategy, Vol. 31 Iss 5 pp. 38-48 http://dx.doi.org/10.1108/02756661011076309
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Pricing is a daily challenge for brand and
product managers since it is completely
intertwined with product development and
management issues. But the use of pricing has
developed as a seat-of-the-pants activity for
most managers with few clear guidelines to
approach product pricing problems
(McCarthy and Perrault, 1993). Although
pricing has received some attention in both
academic and practitioner journals, the
application of this research to practice has not
progressed as quickly as other facets of
product management (Duke, 1991).
Additionally, only a few of the needed areas
of research are being addressed (Duke, 1989).
This interest in pricing at a research level
has not substantially impacted the way
pricing issues are relayed to those new to the
subject or to those needing quick assistance in
pricing philosophies, such as newly assigned
product managers. Product managers have no
guidelines for choosing quickly and with
confidence, the appropriate pricing tactics for
a specific set of consumer characteristics
combined with varied company objectives.
Educational materials generally present
pricing as a linear decision that isolates
separate portions of the pricing decision
without consideration for their
interrelationships. This “linear” method offers
an opportunity to overlook the interaction of
firm objectives with customer characteristics.
That is, a mismatch of company objectives
with the market may occur because linear
pricing modules do not regard the “steps” as
iterative or interactive. The appropriateness of
firm objectives as well as specific pricing
tactics within a given set of market
circumstances is seldom discussed in pricing
literature.
This article offers a modification of Tellis’
Price Strategy Matrix framework to be used
by managers so that they can judge quickly
the appropriateness of pricing objectives and
strategies for the special circumstances of
either entire markets or special segments.
This pricing strategy matrix considers a
match of consumer characteristics with
company objectives and the competitive
situation. It unifies consumer characteristics
and company strategic objectives given the
competitive situation and makes pricing
strategies and tactics easier to grasp and
apply. Given the circumstances of each
decision, the manager can choose appropriate
pricing techniques. This framework is not
intended to replace current training or
VOLUME 3 NUMBER 2
1994
15
Matching Appropriate Pricing
Strategy with Markets and
Objectives
Charles R. Duke

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