(BQ) Part 2 book “Principles of marketing” has contents: Retailing and wholesaling, engaging customers and communicating customer value, personal selling and sales promotion, direct, online, social media, and mobile marketing, creating competitive advantage, and other contents. | PART 1: Defining Marketing and the Marketing Process (Chapters 1–2) PART 2: Understanding the Marketplace and Customer Value (Chapters 3–6) PART 3: Designing a Customer Value-Driven Strategy and Mix (Chapters 7–17) PART 4: Extending Marketing (Chapters 18–20) 11 Chapter Preview Pricing Strategies Additional Considerations In the previous chapter, you learned that price is an important marketing mix tool for both creating and capturing customer value. You explored the three main pricing strategies—customer value-based, cost-based, and competition-based pricing—and the many internal and external factors that affect a firm’s pricing decisions. In this chapter, we’ll look at some additional pricing considerations: new product pricing, product mix pricing, price adjustments, and initiating and reacting to price changes. We close the chapter with a discussion of public policy and pricing. For openers, let’s examine the importance of pricing in online retailing. In case you haven’t noticed, there’s a war going on—between Walmart, by far the world’s largest retailer, and Amazon, the planet’s largest online merchant. Each combatant brings an arsenal of potent weapons to the battle. For now, the focus is on price. But in the long run, it’ll take much more than low prices to win this war. The spoils will go to the company that delivers the best overall online customer experience and value for the price. AMAZON VS. WALMART: A Price War for Online Supremacy “W almart to Amazon: Let’s Rumble” read the by Walmart’s standards, online sales are growing at three times headline. Ali had Frazier. Coke has Pepsi. The the rate of physical-world sales. Within the next decade, online Yankees have the White Sox. And now, the two and mobile buying will capture as much as a third of all retail retail heavyweights are waging a war all their sales. Because Amazon owns online, its revenues have soared an own. The objective? Online supremacy. The weapon of .
