設定價格是經營企業的一項重要活動。需求定律認為: 如果其他因素保持不變, 那麼價格水平便會決定需求的數量。
Price setting is a critical function in running a business. Given other factors remain constant, the law of demand states that quantity demanded will be determined by the price level.
由於顧客對價錢很敏感, 創業家可運用價格分歧策略去增大銷售額。面對不同顧客群時, 同樣的商品可以不同的價格出售。舉例而言, 精裝書及特別版通常以較高價格售予愛書之人和圖書館以作收藏。這些書一般都比平裝版早發行, 優先處理尊貴顧客的需求。就內容而言, 精裝與平裝都是一樣的。有時候, 為了營造產品的差異, 作品會被加插特別的內容以增加收藏的價值。例如, 有些電影會推出導演剪輯版DVD。它里面的影片排序跟標準版是不一樣的。針對不同的顧客群, 產品差異化容許商品功能和外形的不同, 分化的產品能以不同價格出售。 航班是一個產品差異化的好例子。飛機座位可以分為頭等艙、商務艙和經濟艙。客位以不同的價位授予不同的顧客群。創業家應嘗試不同的價格分歧及產品差異化策略去把盈利最大化。在經濟學上彈性的概念進一步容許創業家因應收入和價格轉變去發展價格策略。
Due to the fact that customers are sensitive to price, entrepreneurs can use price discrimination strategy to maximize sales by selling the same product to different groups of customers for different prices. For example, hard cover books or special editions are usually sold at a higher price to book lovers and libraries for collection purpose. They are usually released before the paperback edition to give preferential treatment to the premium customers. In terms of the content, both versions are the same. Sometimes, special content may be added to the work to create a perception of product differentiation to increase the value of ownership. For example, some movie DVD may be packaged as a special director cut edition with film sequences not available in the standard version. Product differentiation allows variation in the offering in terms of functionality and appearance to target different customer segment so that the differentiated products can be sold at different price levels. Air flights with first, business, and economy classes are good examples of how a product, in this case “air flight”, can be offered to address different customer segments at different price levels. Entrepreneurs should experiment with various price discrimination and product differentiation strategies to maximize revenue. The concept of elasticity furthers allows the entrepreneurs to develop pricing strategy in response to changes in income and price.
視乎商品的性質, 收入彈性可以是好的或壞的。商品可分為正常、奢侈或次等的。當收入彈性 經歷正面轉變時, 針對正常或奢侈商品的需求曲線會往外移動。就名牌物品而言, 其需求會大於收入的改變。次等品的需求將會下降, 顧客在每個價位都會少買點, 促使需求曲線往內移。譬如, 你的消費者賺錢多了, 但產品銷情還是一樣的話, 商品對於顧客而言就是正常品。相反, 如果銷情增幅多於收入, 那你有可能發現了一群值得注意的高端消費群。你要找出這個客戶群的更多資訊, 然後發掘可以賣給他們的額外商品。
Income elasticity can be either positive or negative, depending on the nature of the good being sold. The good can be normal, luxury, or inferior. There is a positive change to income elasticity, causing an outward shift of the demand curve, when the goods sold are either normal or luxurious. For luxury good, the demand rises more than proportionate to the change in income. For inferior good, there is a negative change to demand, causing a shift of the demand curve inward, as less will be consumed at each price point. For instance, if the increase in income of your customers does not affect the quantity sold of your product, which means your product is a normal good to your customers. On the other hand, if you experience a more than proportionate increase. You may have found a potential high-end customer segment that worths your attention. Find out more about the segment and discover what additional products can be sold to them.
價格彈性量度價格改變所導致的產品銷量(其他因素保持不變)。創業家明白影響價格需求彈性的因素之後, 就能知道產品在替代品, 買家預算的排序, 必要性和逼切性及不同價位之中的價值。例如, 價錢改變沒有改變銷情, 這就表示價格有上升空間。不過, 經營者需要找出當中原因。是因為產品很獨特, 所以市場上沒有直接的替代品? 還是因為之前的價位定得太低?
Price elasticity measures the change in quantity sold as a result to price change when all other factors held constant. Knowing the factors affecting the price elasticity of demand will allow an entrepreneur to see the value of the offering among substitutes, priorities of the buyer’s budget, degree of necessity and urgency, and finally different price points. For instance, if a change of price does not cause any change in quantity sold. This is a sign that there is room for price increase. However, the entrepreneur should spend the time to find out what may have caused that. Is it because the product is so unique that there is no direct substitute? Or the previous price was set way below market?
左右供應彈性的關鍵因素包括資源多寡, 資源流動性、存貨、 倉庫容量, 以及生產週期的複雜性及長度。創業家如果懂變通和靈活, 就能越容易適應環境和越有競爭力。如任何生產活動的中斷都能輕鬆復原，那就得恭喜當事人，系統已經到位!
The key factors affecting elasticity of supply include resources availability, mobility of resources, storage of finished goods, capacity, and complexity and duration of the production cycle. The more versatile and agile the entrepreneur is, the more adaptive and competitive one would be. Any disruption to the production function can be restored with ease by the entrepreneur means that the system is already in place. Good job!
扼要
1. 需求定律認為價格水平決定需求的數量。
2. 由於顧客對價錢很敏感, 創業家可運用價格歧視策略去增大銷售額。面對不同顧客群時, 同樣的商品可以不同的價格出售。
3. 針對不同的顧客群, 產品差異化容許商品功能和外形的不同, 分化的產品能以不同價位出售。
4. 創業家應嘗試不同的價格歧視及產品差異化策略去把盈利最大化。
5. 價格彈性量度價格改變所導致的產品銷量(其他因素保持不變)。創業家明白影響價
格需求彈性的因素之後, 就能知道產品在替代品, 買家預算的排序, 必要性和逼切性及不同價位之中的價值。
6. 左右供應彈性的關鍵因素包括資源多寡, 資源流動性、存貨、 倉庫容量, 以及生產週期的複雜性及長度。
Major points to recap
1. The law of demand states that quantity demanded will be determined by the price level
2. Due to the fact that customers are sensitive to price, companies can use price discrimination strategy to maximize sales by selling the same product to different groups of customers for different prices.
3. Product differentiation allows variation in the offering in terms of functionality and appearance to target different customer segment so that the differentiated products can be sold at different price levels.
4. Entrepreneurs should experiment with various price discrimination and product differentiation strategies to maximize revenue.
5. Price elasticity measures the change in quantity sold as a result to price change when all other factors held constant. Knowing the factors affecting the price elasticity of demand will allow an entrepreneur to see the value of the offering among substitutes, priorities of the buyer’s budget, degree of necessity and urgency, and finally different price points.
6. The key factors affecting elasticity of supply include resources availability, mobility of resources, storage of finished goods, capacity, and complexity and duration of the production cycle.
問題
1. 很多軟件開發商利用「免費增值」的策略去鼓勵群眾採用他們的產品。舉例來說, 有些軟件是免費的, 但供應商要求用戶在使用軟件之前先看廣告。用戶需交費去移除廣告。軟件是一樣的, 但價格卻有差異(免費vs收費), 因為用戶對廣告有不同的取向。我們可以從這例子中看出什麼經濟原理呢?
Questions:
1. “Freemium” is a strategy used by many app developers to encourage mass adoption of their products. For example, some software are free but the software vendor requires the users to watch an ad before using the software. To remove the ad, the users have to pay a fee. Functionally speaking, it is the same software but there is a difference in price (free vs. fee) because the two groups have different preferences toward the ad. What economic principle has been used here?