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Session 18The session helps to finalize the new product development

which is truly innovative and also any product which is available

in market is repositioned in terms of price, quality or any

improvisation of the product. For ex: new products like TV.

New products have to be assured with maximum profits not loss.

Session 19&20

To learn the stages of new product development. Idea

Generation is used to process the overall ideas to abstract in the

market. Idea Screening is used to filter many ideas which come

from idea generation to process the next concept. Concept

Development is used to develop the price, size, delivery method

in market and Concept Testing is statistically selected where all

possible combinations of the products/service configure to rate

in their own stage. Business Analysis is used to predict about the

product either it has profit/loss where most likely to determine

only the profits. Test Marketing is the final stage before

commercialization where all elements in the market planning areto be tested. Commercialization is the last stage of new product

development which is essential in filling the distribution

networks with the product and the process of launching a new

product.

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Session 21

The discussion of different stages of new product whether

to alter the product and try to make a profit over products.

Competing with overall competitors in the market and producing

different samples of the product and choosing which one is the

best and what benefit in using/choosing that product.

Session 22Absent

Session 23

To analyze the pricing and strategy. To know the

importance of pricing which is one element of the marketing

mix that produces revenue. Pricing is indicated in the market to

know the value positioning of the product or brand.

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Session 24

To calculate the pricing strategy and practices. Penetration

Pricing is a strategy where price volume will be in low price to

secure high volumes and price set to influence in the market.

Next comes Market Skimming which is based on high price and

low volume, this Skimming is only for short-time period or

based on opportunity. Value Pricing is based on consumer

perception. Loss Leader is a strategy which is sold out to low

cost to attract sales everywhere. Psychological Pricing is based

on customers buying behavior and their perception of their

individual products, this Pricing is studied by following odd-

even pricing and prestige pricing. Going-Rate Pricing is largely

based on competitors prices, as the firm might charge the same,

more or less than major competitors. Tender pricing is differentfrom normal pricing which is not related to costs such as

advertising.

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Session 25

Price discrimination occurs when a company sells a

product/service at two or more prices that do not reflect a

proportional difference in costs. Destroyer Pricing offers goods

or service at a low price so that competitors are forced out from

the market. Predatory Pricing is the act to set price in low to

eliminate the competition. Absorption/Full cost Pricing is a

method for setting price to cover fixed cost and variable cost.

Marginal Cost Pricing is the practice of setting the price of a

product to equal the extra cost of producing an extra unit of

output. Contribution Pricing is very similar to marginal cost

pricing. The direct cost of production for each product is

calculated and price is then set at a higher level. Target Pricing

is the selling price of a product is calculated to produce aparticular rate of return on investment for a specific volume of

production. The target pricing method is used most often by

public utilities, like electric and gas companies, and companies

whose capital investment is high, like automobile

manufacturers.

Finally we discussed about the objectives of pricing wherethe final stage of the objective is to fix the appropriate price.

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Session 26

To conclude the pricing and pricing strategies and analyze

the case on BARISTA