Samenvatting
Summary Marketing & Sales - Business Case
- Instelling
- Avans Hogeschool (Avans)
A full summary of the materials used for the course Marketing & Sales.
[Meer zien]Voorbeeld 2 van de 10 pagina's
Voorbeeld 2 van de 10 pagina's
In winkelwagengesponsord bericht van onze partner
1 beoordeling
Door: elinegeluk2001 • 8 maanden geleden
Voorbeeld van de inhoud
Marketing & Sales notesWeek 1 – Training
Customer Life-Time value = Cashflows/¿
Customer Life (N)[ given rate of customer retention]; N = 1/(1-CR)
Customer Retention (CR)[given average customer life]; CR = 1 – (1/N)
Why is this useful?:
1. How long should you keep a customer for a period?
2. Helps you to decide which segments needs to cater for
Retention is to overcome acquisition cost amount of money spend to hold a customer
Customer life time value total number of cash inflows of a customer over a period of time
Week 1 – Lecture
Customer leadership entails;
1. Senior Management Leadership
2. Employee Customer Training
3. Customer Involvement
Voices of the Customer entails;
- Customer experience how are products/services acquired, used, maintained and replaced in
order to understand the total customer experience.
- Customer solutions
- Customers complaints Not always a bad
thing, when customers complains they are
more likely to be retained since the company
can change what is wrong or why customers
are not satisfied enough.
Customer metrics;
- Customer satisfaction
- Customer retention
- Customer loyalty
Page 1 of 10
, Week 3 – Training
Price Elasticity of Demand
Price elasticity of demand is used to determine how a change in price affects consumer demand. If
consumers still purchase a product despite a higher price increase (such as cigarettes and fuel) that
product is considered inelastic. On the other hand, elastic products suffer from pricing fluctuations
(such as cable TV and movie tickets). To calculate price elasticity you use the following formula:
% Change in quantity and or volume / % Change in price = price elasticity of demand
Between 0 and -1= inelastic
Greater dan -1 = elastic
When a product is elastic, a change in price quickly results in a change in the quantity demanded.
When a good is inelastic, there is little change in the quantity of demand even with the change of the
good’s price. When the percentage change in volume is greater than the percent change in price, we
have an elastic price. When the percentage change in volume is less than the percent change in price,
we have in inelastic price.
Inelastic price never lower the price when a price is inelastic. A lower price will result in lower
sales and lower profits.
Elastic price use caution when lowering prices when price are elastic. If percent margins are low,
a lower price will increase sales but often result in profits.
Types of pricing
1. Competitive pricing
Competition-based pricing is also known as competitive pricing or competitor-based pricing.
This pricing strategy focuses on the existing market rate (or going rate) for a company’s
product or service. It doesn’t take into account the cost of their product or consumer demand.
Instead, a competition-based pricing strategy uses the competitors’ prices as a benchmark.
Businesses who compete in a highly saturated space may choose this strategy since a slight
price difference may be the deciding factor for customers. With competitive pricing, you can
price products slightly below, the same as, or slightly above the competition. For example, if
you sold software, and your competitors’ prices ranged from $19.99 per month to $39.99 per
month, you’d choose a price between those two numbers. Competitive pricing is a way to stay
on top of the competition and keep pricing dynamic.
In marketing practice;
Consumers primarily seek the best value, which isn’t always the same as the lowest price.
Pricing products and services competitively in the market can put your brand in a better
position to win business. Competitive pricing works especially well when a business offers
Page 2 of 10
Voordelen van het kopen van samenvattingen bij Stuvia op een rij:
Verzekerd van kwaliteit door reviews
Stuvia-klanten hebben meer dan 700.000 samenvattingen beoordeeld. Zo weet je zeker dat je de beste documenten koopt!
Snel en makkelijk kopen
Je betaalt supersnel en eenmalig met iDeal, creditcard of Stuvia-tegoed voor de samenvatting. Zonder lidmaatschap.
Focus op de essentie
Samenvattingen worden geschreven voor en door anderen. Daarom zijn de samenvattingen altijd betrouwbaar en actueel. Zo kom je snel tot de kern!
Veelgestelde vragen
Wat krijg ik als ik dit document koop?
Je krijgt een PDF, die direct beschikbaar is na je aankoop. Het gekochte document is altijd, overal en oneindig toegankelijk via je profiel.
Tevredenheidsgarantie: hoe werkt dat?
Onze tevredenheidsgarantie zorgt ervoor dat je altijd een studiedocument vindt dat goed bij je past. Je vult een formulier in en onze klantenservice regelt de rest.
Van wie koop ik deze samenvatting?
Stuvia is een marktplaats, je koop dit document dus niet van ons, maar van verkoper emmavangroezenn. Stuvia faciliteert de betaling aan de verkoper.
Zit ik meteen vast aan een abonnement?
Nee, je koopt alleen deze samenvatting voor €7,39. Je zit daarna nergens aan vast.
Is Stuvia te vertrouwen?
4,6 sterren op Google & Trustpilot (+1000 reviews)
Afgelopen 30 dagen zijn er 56326 samenvattingen verkocht
Opgericht in 2010, al 14 jaar dé plek om samenvattingen te kopen