Use Of Pricing Strategies Research Articles

Forecasting financial stability in SMEs: A comprehensive analysis of strategic budgeting and revenue management

Small and medium-sized enterprises (SMEs) are vital contributors to global economies, but they often face unique financial challenges that threaten their long-term stability. This review presents a comprehensive analysis of forecasting financial stability in SMEs, focusing on strategic budgeting and revenue management as key pillars. Strategic budgeting plays a crucial role in aligning financial plans with business goals, managing risks, and adapting to market changes. Techniques such as zero-based budgeting, activity-based budgeting, and rolling budgets offer SMEs flexibility in allocating resources and ensuring optimal cash flow management. Meanwhile, effective revenue management involves the use of pricing strategies, sales channel diversification, and customer segmentation to optimize revenue streams and improve profitability. The interplay between strategic budgeting and revenue management is critical for creating dynamic forecasting models that help SMEs anticipate financial challenges and make informed decisions. By integrating both strategies, SMEs can better manage risks, enhance financial predictability, and achieve long-term sustainability. This review also explores the role of technological tools, such as financial software and predictive analytics, in supporting financial decision-making processes. Tools like customer relationship management (CRM) systems and AI-driven forecasting platforms enable SMEs to optimize revenue potential and refine budgetary practices. The review provides recommendations for SMEs to implement best practices in financial planning, suggesting regular budget reviews and proactive revenue management strategies to respond to market fluctuations. By leveraging strategic budgeting and revenue management, SMEs can enhance their financial resilience and improve their capacity to navigate economic uncertainties. The review concludes with insights into emerging trends in financial forecasting, emphasizing the importance of continuous adaptation to maintain financial stability.

Analysis of Pricing Strategies of Handloom Products in Mizoram

This study explores the pricing strategy of handloom products in Mizoram to better understand the factors that determine the pricing of handloom products in Mizoram and to highlight any gap in the use of pricing strategies. The study is based on a data of a sample of 384 individual handloom workers collected through convenience sampling using a questionnaire. The study reveals that cost plus strategy was primarily used pricing handloom products in Mizoram. The pricing strategy mainly focused on assigning monetary value of products to capture a desired level of profit. It was found that the use of pricing as a marketing and management tool was negligible in Mizoram. This highlights the need for training and developments that enable the handloom workers to incorporate managerial and marketing strategies though pricing strategies in Mizoram.

УПРАВЛІННЯ ПОВЕДІНКОЮ СПОЖИВАЧІВ НА ОСНОВІ МАРКЕТИНГОВОГО ЦІНОУТВОРЕННЯ

The essence of the concept of "consumer behavior" has been studied. Factors influencing it have been identified, including personal preferences, needs, values, and external influences such as advertising, marketing activities, and social factors. Such groups of influencing factors on consumer behavior are characterized, such as: demographic characteristics, psychological factors, social factors, marketing factors (including marketing pricing). Their role in the formation of the purchase decision is determined. The place of marketing pricing in the model of consumer behavior is presented, which provides an understanding of how and why decisions are made to purchase goods or services, how consumers react to various marketing techniques, and which of them the company can apply. Thanks to their use, a better understanding of the behavior of consumers in choosing and purchasing products is achieved, and hence, more effective use of marketing tools. It is noted that a seller who understands the mechanisms of irrational consumer behavior can present goods in such a way as to convince the buyer to give them a higher rating. Four directions of research into irrational consumer behavior are characterized: perception of percentage differences, perception of unrounded endings, influence of relative prices, influence of perception. Management of consumer behavior taking into account marketing pricing includes the use of pricing strategies and tactics to influence consumer decisions about purchasing goods or services. The authors characterized some of these approaches, in particular, price differentiation, price-quality strategy, price leadership strategy, promotions and discounts, free offers, dynamic pricing. It is noted that the buyer's perception of the product price directly affects the sales efficiency and the seller's profitability. Therefore, the marketing department of any firm must be able to predict and model the possible reaction of the consumer to the chosen price strategy, as well as take into account as many psychological factors as possible during its development. Methods of managing consumer behavior based on marketing pricing are highlighted.

Pricing Strategies Evaluation in Radio Industry’s Firm (Case Study at PT XYZ)

The purpose of this study is to classify costs that an be included in the calculation of production using target costing precisely and determine the pricing strategy and the price that should be set by PT XYZ. The method used is qualitative research. This study concludes that the use of pricing strategies implemented by PT XYZ is inefficient, because in determining product prices, PT XYZ didn’t use target costing calculations, so the company doesn’t know how much costs must be spent to produce or run their services. By using target costing and target pricing, the company can make cost adjustments in order to remain competitive in the market. Furthermore, in determining the price, the company must decipher costs are incurred to run a service. The use of the most appropriate pricing strategy in determining new advertising prices in the industry is to use cost-based pricing. But if the company has already prices set, then it’s best for company to use customer’s value based pricing.

Perceptions on the use of pricing strategies to stimulate healthy eating among residents of deprived neighbourhoods: a focus group study

BackgroundPricing strategies are mentioned frequently as a potentially effective tool to stimulate healthy eating, mainly for consumers with a low socio-economic status. Still, it is not known how these consumers perceive pricing strategies, which pricing strategies are favoured and what contextual factors are important in achieving the anticipated effects.MethodsWe conducted seven focus groups among 59 residents of deprived neighbourhoods in two large Dutch cities. The focus group topics were based on insights from Rogers' Diffusion of Innovations Theory and consisted of four parts: 1) discussion on factors in food selection; 2) attitudes and perceptions towards food prices; 3) thinking up pricing strategies; 4) attitudes and perceptions regarding nine pricing strategies that were nominated by experts in a former Delphi Study. Analyses were conducted with Atlas.ti 5.2 computer software, using the framework approach.ResultsQualitative analyses revealed that this group of consumers consider price to be a core factor in food choice and that they experience financial barriers against buying certain foods. Price was also experienced as a proficient tool to stimulate healthier food choices. Yet, consumers indicated that significant effects could only be achieved by combining price with information and promotion techniques. In general, pricing strategies focusing on encouraging healthy eating were valued to be more helpful than pricing strategies which focused on discouraging unhealthy eating. Suggested high reward strategies were: reducing the price of healthier options of comparable products (e.g., whole meal bread) compared to unhealthier options (e.g., white bread); providing a healthy food discount card for low-income groups; and combining price discounts on healthier foods with other marketing techniques such as displaying cheap and healthy foods at the cash desk.ConclusionThis focus group study provides important new insights regarding the use of pricing strategies to stimulate healthy eating. The observed perceptions and attitudes of residents of deprived neighbourhoods can be integrated into future experimental studies and be used to reveal if and how pricing strategies are effective in stimulating healthy eating.

SHORT‐RUN PRICING STRATEGIES TO INCREASE CORPORATE AVERAGE FUEL ECONOMY

Since 1974 the average fuel economy of new cars has doubled from fourteen to twenty‐eight miles per gallon. Shifts in sales to more fuel efficient models within a product line accounted for little of the improvement. This paper explores the use of pricing strategies to shift sales to achieve a legislated fuel economy target. A multinomial logit model is used to compute surcharges and rebates that leave consumer satisfaction unchanged yet increase the sales‐weighted average fuel economy. The results suggest pricing strategies are efficient for small improvements in fuel economy, but are expensive for large improvements.