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Chapter 10: Pricing Strategies: Understanding and Capturing Customer Value
Topic: IKEA creates quality, modern, and functional furniture at low prices
Learning Objectives:
1. Identify the three major pricing strategies and discuss the importance of understanding customer-value perceptions, company costs, and competitor strategies when setting prices.
2. Identify and define the other important external and internal factors affecting a firm’s pricing decisions.
Video Title: IKEA (Located in the Week 6 Folder in MyMarketingLab)
Link: http://media.pearsoncmg.com/ph/bp/bp_akamai/kotler/IKEA.html
QUESTIONS:
1. What is IKEA’s promise of value?
2. Referring to the Klippan sofa, illustrate how IKEA delivers its promise of value to consumers.
3. Based on the concepts from the text, does IKEA employ a value-based pricing approach or a cost-based pricing approach? Support your answer.
Please prepare your reponses in a Word document (maximum of 3 – 4 pages) and submit to the Assignments Folder in WebTycho. Due by Sunday, August 5.
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