abhishreshthaa
Abhijeet S
NYNEX Corporation (pronounced /ˈnaɪnɛks/) was a telephone company that served five New England states (Maine, Massachusetts, New Hampshire, Rhode Island and Vermont) as well as New York, from 1984 through 1997.
Formed January 1, 1984, as a result of the Bell System Divestiture, NYNEX was a Regional Bell operating company made up of former AT&T subsidiaries New York Telephone Company and New England Telephone. Hence, the name NYNEX stood for New York/New England, with the X representing the unknown future (or "the uneXpected")[1], but the X is also widely believed to mean eXchange. Bell Atlantic bought NYNEX on August 14, 1997, in what was, at the time, the second largest merger in American corporate history.[2][3] The corporate headquarters was moved from Philadelphia to New York City. On June 30, 2000, Bell Atlantic acquired GTE to form Verizon Communications.
NYNEX is now known as Verizon's "Northeast Bureau".[citation needed]
NYNEX also operated cable television and telephone services in the United Kingdom, with offices in Waterlooville (Hampshire), Baguley (Manchester), Shoreham-by-Sea (East Sussex), Leatherhead (Surrey) and Antrim (Northern Ireland). In 1997, the UK assets of NYNEX were merged with the Cable & Wireless subsidiary Mercury Communications and cable operators Vidéotron and Bell Cablemedia, and renamed as Cable & Wireless Communications. Cable & Wireless's cable assets were sold to NTL in 2000. In 2006, NTL merged with telewest and later re-branded on 8 February 2007 as Virgin Media.
The Marketing Mix
a “grounding” concept that offers tools &
a “grounding” concept that offers tools &
pointers when a business evaluates & defines its
pointers when a business evaluates & defines its
marketing strategy, objectives & activities - what
marketing strategy, objectives & activities - what
it seeks from its target markets & how it does it
it seeks from its target markets & how it does it
7Ps –
7Ps – Price, Product, Promotion, Place,
Price, Product, Promotion, Place,People,
People,
Process, Physical Environment
Process, Physical Environment
Traditional 4Ps
Traditional 4Ps + 3Ps to cover service industry
+ 3Ps to cover service industry
Product –
methods to improve/differentiate
methods to improve/differentiate
the product to target & increase sales
the product to target & increase sales
more effectively
to gain a competitive advantage e.g.
USPs
extension strategies
specialised versions
new editions
improvements – real or otherwise!
changed packaging
use enhanced technology etc.
Pricing
Penetration Pricing
price set to ‘penetrate the market’
Low’ price for high volumes
"Dumping"?
typical in mass market products –
chocolate bars, food stuffs, household
chocolate bars, food stuffs, household
good, etc.
good, etc.
suitable for products with long life
suitable for products with long life
cycles
cycles
useful for launching in new market
useful for launching in new market
problem to raise price
problem to raise price
subsequently
subsequently
Price
Quantity
Penetration Pricing
Whole
market price
8
8
Market Skimming
Market Skimming
High price, low volumes
High price, low volumes
Suitable for products with short
Suitable for products with short
life cycles or soon facing
life cycles or soon facing
competition (e.g. after a patent
competition (e.g. after a patent
runs out)
runs out)
e.g. Harry Potter hard-back,
e.g. Harry Potter hard-back,
Playstation, digital technology,
Playstation, digital technology,
new DVDs, etc.
new DVDs, etc.
LCD and Plasma screens: Why are high prices falling?
Price
Quantity
Initial
skimming
price
Second
price
Final
price
Skimming Pricing
Sell at high
price before
reducing to
next price level
and repeat
“Skim the cream (profit) off
the top first” pricing
high price for those willing to
pay then aim at more price-
sensitive consumers.
9
9
Value Pricing
Value Pricing
Price set according to
Price set according to
perceptions about the
perceptions about the
value of the
value of the
product/service
product/service
e.g. status
e.g. status
products/exclusive
products/exclusive
products
products
10
10
Loss Leader
Loss Leader
Supermarkets, e.g. milk, £5 gin
Supermarkets, e.g. milk, £5 gin
at Christmas (people attracted
at Christmas (people attracted
to the store & buy other things)
to the store & buy other things)
Purchases of other items more
Purchases of other items more
than covers ‘loss’ on item sold
than covers ‘loss’ on item sold
e.g. ‘Free’ mobile phone when
e.g. ‘Free’ mobile phone when
taking on contract package
taking on contract package
Formed January 1, 1984, as a result of the Bell System Divestiture, NYNEX was a Regional Bell operating company made up of former AT&T subsidiaries New York Telephone Company and New England Telephone. Hence, the name NYNEX stood for New York/New England, with the X representing the unknown future (or "the uneXpected")[1], but the X is also widely believed to mean eXchange. Bell Atlantic bought NYNEX on August 14, 1997, in what was, at the time, the second largest merger in American corporate history.[2][3] The corporate headquarters was moved from Philadelphia to New York City. On June 30, 2000, Bell Atlantic acquired GTE to form Verizon Communications.
NYNEX is now known as Verizon's "Northeast Bureau".[citation needed]
NYNEX also operated cable television and telephone services in the United Kingdom, with offices in Waterlooville (Hampshire), Baguley (Manchester), Shoreham-by-Sea (East Sussex), Leatherhead (Surrey) and Antrim (Northern Ireland). In 1997, the UK assets of NYNEX were merged with the Cable & Wireless subsidiary Mercury Communications and cable operators Vidéotron and Bell Cablemedia, and renamed as Cable & Wireless Communications. Cable & Wireless's cable assets were sold to NTL in 2000. In 2006, NTL merged with telewest and later re-branded on 8 February 2007 as Virgin Media.
The Marketing Mix
a “grounding” concept that offers tools &
a “grounding” concept that offers tools &
pointers when a business evaluates & defines its
pointers when a business evaluates & defines its
marketing strategy, objectives & activities - what
marketing strategy, objectives & activities - what
it seeks from its target markets & how it does it
it seeks from its target markets & how it does it
7Ps –
7Ps – Price, Product, Promotion, Place,
Price, Product, Promotion, Place,People,
People,
Process, Physical Environment
Process, Physical Environment
Traditional 4Ps
Traditional 4Ps + 3Ps to cover service industry
+ 3Ps to cover service industry
Product –
methods to improve/differentiate
methods to improve/differentiate
the product to target & increase sales
the product to target & increase sales
more effectively
to gain a competitive advantage e.g.
USPs
extension strategies
specialised versions
new editions
improvements – real or otherwise!
changed packaging
use enhanced technology etc.
Pricing
Penetration Pricing
price set to ‘penetrate the market’
Low’ price for high volumes
"Dumping"?
typical in mass market products –
chocolate bars, food stuffs, household
chocolate bars, food stuffs, household
good, etc.
good, etc.
suitable for products with long life
suitable for products with long life
cycles
cycles
useful for launching in new market
useful for launching in new market
problem to raise price
problem to raise price
subsequently
subsequently
Price
Quantity
Penetration Pricing
Whole
market price
8
8
Market Skimming
Market Skimming
High price, low volumes
High price, low volumes
Suitable for products with short
Suitable for products with short
life cycles or soon facing
life cycles or soon facing
competition (e.g. after a patent
competition (e.g. after a patent
runs out)
runs out)
e.g. Harry Potter hard-back,
e.g. Harry Potter hard-back,
Playstation, digital technology,
Playstation, digital technology,
new DVDs, etc.
new DVDs, etc.
LCD and Plasma screens: Why are high prices falling?
Price
Quantity
Initial
skimming
price
Second
price
Final
price
Skimming Pricing
Sell at high
price before
reducing to
next price level
and repeat
“Skim the cream (profit) off
the top first” pricing
high price for those willing to
pay then aim at more price-
sensitive consumers.
9
9
Value Pricing
Value Pricing
Price set according to
Price set according to
perceptions about the
perceptions about the
value of the
value of the
product/service
product/service
e.g. status
e.g. status
products/exclusive
products/exclusive
products
products
10
10
Loss Leader
Loss Leader
Supermarkets, e.g. milk, £5 gin
Supermarkets, e.g. milk, £5 gin
at Christmas (people attracted
at Christmas (people attracted
to the store & buy other things)
to the store & buy other things)
Purchases of other items more
Purchases of other items more
than covers ‘loss’ on item sold
than covers ‘loss’ on item sold
e.g. ‘Free’ mobile phone when
e.g. ‘Free’ mobile phone when
taking on contract package
taking on contract package