Cosmic evolution, while fully addressing all complex systems and not merely those that led to humanswhich is also sometimes called cosmological history or universal historyhas been taught and researched for decades, mostly by astronomers and astrophysicists. This Big-Bang-to-humankind scenario well preceded the subject that some historians began calling Big History in the s. Cosmic evolution is an intellectual framework that offers a grand synthesis of the many varied changes in the assembly and composition of radiation, matter, and life throughout the history of the universe. The roots of the idea of cosmic evolution extend back millennia.
The objectives of pricing should consider: Where manufacturing is expensive, distribution is exclusive, and the product is supported by extensive advertising and promotional campaignsthen prices are likely to be higher. Price can act as a substitute for product quality, effective promotions, or an energetic selling effort by distributors in certain markets.
From the marketer's point of view, an efficient price is a price that is very close to the maximum that customers are prepared to pay. In economic terms, it is a price that shifts most of the consumer economic surplus to the producer.
A good pricing strategy would be the one which could balance between the price floor the price below which the organization ends up in losses and the price ceiling the price by which the organization experiences a no-demand situation.
Pricing strategies Marketers develop an overall pricing strategy that is consistent with the organisation's mission and values. This pricing strategy typically becomes part of the company's overall long-term strategic plan.
The strategy is designed to provide broad guidance for price-setters and ensures that the pricing strategy is consistent with other elements of the marketing plan.
While the actual price of goods or services may vary in response to different conditions, the broad approach to pricing i. The pricing strategy established the overall, long-term goals of the pricing function, without specifying an actual price-point. In some cases, prices might be set to de-market.
The aim of value-based pricing is to reinforce the overall positioning strategy e. Where the objective is to encourage or discourage specific social attitudes and behaviours. Tactical pricing decisions are shorter term prices, designed to accomplish specific short-term goals.
The tactical approach to pricing may vary from time to time, depending on a range of internal considerations e. Accordingly, a number of different pricing tactics may be employed in the course of a single planning period or across a single year.
Typically line managers are given the latitude necessary to vary individual prices providing that they operate within the broad strategic approach. For example, some premium brands never offer discounts because the use of low prices may tarnish the brand image.
Instead of discounting, premium brands are more likely to offer customer value through price-bundling or give-aways. When setting individual prices, decision-makers require a solid understanding of pricing economics, notably break-even analysis as well as an appreciation of the psychological aspects of consumer decision-making including reservation pricesceiling prices and floor prices.
The marketing literature identifies literally hundreds of pricing tactics. Rao and Kartono carried out a cross-cultural study to identify the pricing strategies and tactics that are most widely used.
In such cases, complementary pricing may be considered. It refers to a method in which one of two or more complementary products a deskjet printer, for example is priced to maximise sales volume, while the complementary product printer ink cartridges are priced at a much higher level in order to cover any shortfall sustained by the first product.
Contingency pricing is widely used in professional services such as legal services and consultancy services. Discrete pricing[ edit ] Discrete Pricing occurs when prices are set at a level that the price comes within the competence of the decision making unit DMU.
Discount pricing[ edit ] A discount is any form of reduction in price Discount pricing is where the marketer or retailer offers a reduced price. Discounts in a variety of forms - e.
Everyday low prices EDLP [ edit ] "Everyday Low Prices" are widely used in supermarkets Everyday low prices refers to the practice of maintaining a regular low price-low price - in which consumers are not forced to wait for discounting or specials.
This method is used by supermarkets.
The objective of exit fees is to deter premature exit. Regulatory authorities, around the globe, have often expressed their discontent with the practice of exit fees as it has the potential to be anti-competitive and restricts consumers' abilities to switch freely, but the practice has not been proscribed.
This approach which is often used in the pricing of high technology products and services, is based on the insight that manufacturers learn to trim production costs over time in a phenomenon known as experience effects.
In other cases, geographic variations in prices may reflect the different costs of distribution and servicing certain markets. It refers to the practice of including an undertaking or promise that certain results or outcomes will be achieved.
In the event that the result is not achieved, the client does not pay for the service. This practice is widely used by chain stores selling homewares. The main disadvantage of the high-low tactic is that consumers tend to become aware of the price cycles and time their purchases to coincide with a low-price cycle.
The objective of honeymoon pricing is to "lock" customers into a long-term association with the vendor. This approach is widely used in situations where customer switching costs are relatively high such as in home loans and financial investsments.SINGAPORE - Noble Group has rejected substantial shareholder Goldilocks' attempt to nominate five non-executive directors at its upcoming annual general meeting (AGM) on April Dark Parables: Goldilocks and the Fallen Star for iPad, iPhone, Android, Mac & PC!
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Big History is an academic discipline which examines history from the Big Bang to the lausannecongress2018.com History resists specialization, and searches for universal patterns or trends.
It examines long time frames using a multidisciplinary approach based on combining numerous disciplines from science and the humanities, and explores human existence in the context of this bigger picture.
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