Hence Port decided to recover only the short recovery/deficit of 286.40 millions (Annexure IX p-17). Container Port Strategy Summary and Conclusions This report examines how ports can accommodate changes in maritime transport (such as the arrival of mega-ships) while adapting to developments in the hinterland (notably in their host cities). For income projections, traffic projections and present tariff rates are considered. The Herfindahl Index (H) calculated comes out 1 and clearly shows the monopoly pattern of these ports. As revealed from the tariff order for KPT (TAMP website) the tariff proposal is as below: “Based on the cost structure, the financial position reveals how much tariff is required to generate the return@15% and to make the activities self sustained. Effected by direct competition between carriers, port authority, commodity & alternative transport (inland & air transport). Wherever the rates are mentioned in the dollar terms, the effect of foreign exchange fluctuation is given. (Annexure III) These projections are made after taking into consideration the various factors such as trend of cargo handled during previous years, capacity increase, economic growth, traffic handled by the nearby competiting ports, market survey based on the indications given by the port users, reports of the various associations such as Agricultural Product Export Development Authority (APEDA), Timber Association, Indian Farmers Fertilizer Co-Operative Ltd. (IFFCO), Oil Coordination Committee’s report (OCC), reports from the important importers and exporters, Expert opinions, governments policies etc. To achieve a green and sustainable development of the port industry, various regulations have been adopted for the control of emissions. Efforts are required to be concentrated in the areas where the potential savings are likely to bemaximum. Cost statement also shows future projections. port pricing is to ensure that port facilities are used in the most efficient manner. When port pollution is considered and has a relatively large impact, the integration of the two ports improves green social welfare for the region. Though Port has prepared dredging plan, it is required to reduce the time span so that larger vessels get accommodated within a short period. Port can also take up the value adding services and ‘door-to-door solutions’ tobuild -up captive customer/clientele base. Price Leaders: Pricing and Charges for Road and Urban Transport 69 Pricing for Road Infrastructure 69 Public Transport Pricing 87. Attempts are made in Kandla Port Trust to evaluatecost of each component of port operations. Thus based on the Direct and Indirect Cost, Total Operating Cost has been arrived at. Accordingly the data presented is related to the year from 2002-03 to 2004-05 and projections from 2005-06 to 2007-08. The Kandla Port has adopted a ‘cost plus return on capital employed’ approach while fixing the tariff to achieve the financial objective of the port. From simple essay plans, through to full dissertations, you can guarantee we have a service perfectly matched to your needs. Generic strategies can help the organization to cope with the five competitive forces in the industry and do better than other organization in the industry. of vessels. Competitive Strategy • Know your competition • How do you measure up? A firm’s success in strategy rests upon how it positions itself in respect to its environment. However, there is a lack of research regarding Port wine marketing strategies, and previous published studies date from 1998 (Lages and Shaw, 1998). When demand for a service is inelastic, other measures, … Add to cart. Capital Employed comprises Net Fixed Assets (Gross Block minus Depreciation minus Works in Progress) plus Working Capital. Published: 12th May 2017 in The ‘Indirect Cost’/overheads such as Departmental overheads, management and general administration overheads(such as store keeping expenses, labour welfare and medical expenses, engineering expenses, work shop overheads, insurance etc), security expenses, social welfare expenses, fire fighting expenses et. This work was supported by the National Natural Science Foundation of China [grant 71471101], the Natural Science Foundation of Shandong Province [grant ZR2015GZ008], and the Social Science Planning Fund Program of Shandong Province [grant 13CGLJ11]. Geography. (which are called Finance and Miscellaneous expenditure) is added to arrive at the Total Cost. Generally firms pursue only one of the above generic strategies. Implementation of the cost effective systems will definitely help the port to overcome the redundant costs. Port pricing plays important role in the growth and prosperity of the ports. Recommended articles lists articles that we recommend and is powered by our AI driven recommendation engine. The merger (integrated port) can select either the price discrimination or uniform pricing strategy after integration. We use cookies to improve your website experience. Generic strategies apply to not-for-profit organizations too. By applying … and ‘Port and Dock facilities Activity’ comprise sub-activities such as Cranes, berth hire, port dues, pilotage, water supply, dry docking, dredging, flotilla etc. Study for free with our range of university lectures! Many (perhaps all) market segments in the industry are supplied with the emphasis placed on minimising costs. PORT TARIFFS 2. Thus, tariff has been fixed considering the emerging competition by the private ports in the near vicinity in terms of traffic, tariff rates and the likelihood of losing of cargo. “There are four usual tariff approaches for the determination of the port charges: Cost-based tariff, investment based tariff, comparative tariff, flexible and promotion tariff. For expenditure projection, latest expenditure is adjusted to the Wholesale Price Index for All Commodities announced by the Ministry of Finance, Govt. Pricing strategy is based on the objective that a port aims at: may it be the profit maximization, throughput maximization, trade promotion or minimization of the ships’ time in the port The Kandla Port has adopted a ‘cost plus return on capital employed’ approach while fixing the tariff to achieve the financial objective of the port. This will give a strict control over inefficiencies and thus will help to reduce the tariff. for speedy handling of the cargo. A courtside ticket for an LA Lakers game might be $750 – … There is also an acute competition faced by KPT from the Port of Mundra, a private port which is in the vicinity and handled almost 40 million tons of cargo during 2009-2010. Kotler Pricing Strategies. Port Pricing and Concession Strategies December 1 - 3, 2014 Mérida, Yucatán, México. However, determining which technologies, how to implement them and the way in which they can support the overall digital strategy of the port remains the main challenge. These activities and sub-activities are again divided into various cost centres where in the cost is booked. Port faces severe competition from nearby State owned 20 minor ports and private ports which handled 205.98 millions metric tons during 2009-10. This paper presents the current pricing system of Kandla Port Trust and its impact on the traffic, intense competition, financial gains etc. The traditional method to achieve this objective is to produce on a large scale which enables the business to exploit economies of scale. If you need assistance with writing your essay, our professional essay writing service is here to help! Operating cost includes labour cost, material cost, maintenance cost, fuel cost and other expenditure such as management and administration, insurance, security. We're here to answer any questions you have about our services. For the cargo handling activity however, it is observed that Port instead of giving flat 15% hike to the existing rates, used the proactive pricing by increasing the rate of those commodities in which port has monopoly in handling such as food grains, scrap, timber, salt and sugar and reducing the rates of the cargo such as ores & minerals, metals, oil cakes etc. The diverse nature of a port, with a wide variety of companies and ecosystems, RECEIVE UPDATES. Cost based and investment based tariff aim at achieving the financial objectives whereas comparative and flexible and promotional tariff are suitable for achieving the market needs” (Cariou Handout 2010 p-16). This will increase traffic at the port and thus through the economies of scale the price at the port gets reduced. For the purpose of fixation of the tariff, it is necessary to know the operating cost of the port. A deep understanding of how products and services create value for customers is the key input to the development of a price structure that determines how your offerings should be priced. . Rates of the pilotage charges of the nearby ports which were 82% higher than the Kandla Port’s rate justified 15% hike. It is observed from the comparison that all charges are abysmally low at Kandla Port Trust except the port dues, pilotage and berth hire charges which are little higher than the GMB Ports (GMB website), due to the huge expenditure of dredging cost. In KPT, traffic projections made are in line with the projections in the five year / annual plans and the current / expected growth. However, port further gives specific justification as below for the upward revision of tariff. ... which positions carriers to concentrate more volume on a port and so negotiate better pricing. Pricing Strategy; In This Section. Do you have a 2:1 degree or higher? We've received widespread press coverage since 2003, Your UKEssays purchase is secure and we're rated 4.4/5 on reviews.co.uk. No plagiarism, guaranteed! 3099067 Tariff rates are also made concessional and promotional if ashipper commits major volumes. The demand is also studied on the basis of size of the vessels handled at port (Annexure IV) based on the draft restrictions and future dredging plans of the port. It influences port competition, investment decisions, development strategy etc. For port dues, port considered the huge expenditure on account of maintenance dredging. (iv) increase in the operating cost by 23.68% etc. Marketing strategy helps companies achieve business goals & objectives, and marketing mix (4Ps) is the widely used framework to define the strategies. Specimen of the Cost Statement of Cargo handling sub-activity is placed at Annexure VIII which gives an idea as how the costs are booked under different heads. The review will assess the function and performance of the current port system and recommend reforms to ensure that Victorian ports are well positioned to meet future needs. Article Purchase It stands to reason that ports are faced with a myriad of issues both technical and strategic. Capital employed for each activity, return on capital employed (Annexure X) and cash flow statement (Annexure XI) are placed only for 2004-05. Kandla Port expected additional revenue generation of approx. the pricing literature and consider opportunities for improvement. However, Port finds that such recovery of return will not be possible as it demands almost 38% hike and traffic can not bear such huge hike. Any opinions, findings, conclusions or recommendations expressed in this material are those of the authors and do not necessarily reflect the views of UKEssays.com. • Conduct a competitive analysis • Understand your competitive position: Allows for more effective marketing and negotiating No potential conflict of interest was reported by the authors. of gangs justified the hike of 50% in the berth hire charges. Increase in the capacity of the port is urgently required as the berth occupancy at the port is 89% (Ministry of Shipping, India website) which is much on the higher side impacting the turn around time of the ship which is almost 3.09 days (KPT website). An independent review into Victorian ports has commenced and is being led by Independent Reviewer Mark Curry, engaged by Freight Victoria. These layers combine to form a strategic pricing pyramid. *You can also browse our support articles here >. 5.1.1 Port classification in the Hamburg-Le Havre range 59 5.1.2 Defining Competitive Strategy 60 5.2 Building the Competitive Strategy for the port of Hamburg 61 5.2.1 The Competitive Strategy for Hamburg 61 5.2.1.1 The Focus Strategy 61 5.2.1.2 The Overall Cost Strategy 62 5.3 Building the Competitive Strategy for the Bremerhaven 63 Cited by lists all citing articles based on Crossref citations.Articles with the Crossref icon will open in a new tab. al are also booked under different cost centres and then they are apportioned to all the sub-activities. Pricing and Charges for Railways 99 ... 5.1 Port Charges on Ships 122 5.2 Port Charges on Cargo 123 DIAGRAMS 1.1 The Environment - A Schematic Representation of Sustainable Development 5 All work is written to order. Pricing plays a prominent role in any organization. Thus the profit maximization and throughput maximizationarethe objectives of Kandla Port. It is therefore in your best interest to call on an expert in these different strategies, whether it be cost-based pricing, dynamic pricing, pricing to conquer a market, pricing … Traffic comparison of Kandla Port and 20 minor ports of Gujarat and Herfindahl Index is placed at Annexure VI. Kandla Port Trust (KPT) is one of the 12 major ports of India under the Ministry of Shipping, Govt. These studies have all concluded that the port adopts appropriate cooperative pricing strategy in competition, which is conducive to the improvement of total profits. To export a reference to this article please select a referencing stye below: If you are the original writer of this essay and no longer wish to have your work published on UKEssays.com then please: Our academic writing and marking services can help you! which was getting diverted. Based on the above, the Scale of Rates of KPT (KPT website) has been divided into 4 Chapters. Registered in England & Wales No. Port. Also there are 187 minor ports under the control of various State Maritime Boards. 5 Howick Place | London | SW1P 1WG. As your company’s presence in an export market matures, you may revise pricing strategies for existing and new services. Pricing Strategies – Psychological . Port Dues on the vessels entering the port. Cost Based Penetration Pricing Strategy Blythe and Megicks (2010) says that pricing strategy was meant to set prices according to the characteristic of the target segment. PORTER’S GENERIC STRATEGIES 2. of India and applied to the traffic projections to arrive at the expenditure projections. Pricing – depends on the forces of supply & demand. Best solutions in terms of making a port cost-effective and attracting traffic is to develop the terminals under public-private participationmodel wherein the risks are optimally shared/distributed and costs are brought down witha right blend of public management and private management. Registered office: Venture House, Cross Street, Arnold, Nottingham, Nottinghamshire, NG5 7PJ. Emerging growth of the GMB ports during thelast decade in terms of capacity creation and speedy cargo handling has posed a severe competition to Kandla Port. The merger (integrated port) can select either the price discrimination or uniform pricing strategy after integration. Traffic of all other major ports of India along with Herfindahl Index is placed at Annexure VII. The pricing system can influence the utilization of assets particularly when the demand for the services is price elastic. the functioning of the world economy and effective competition in ports and port services plays an important role in the final prices of many products. 304.30 millions p.a. (MAP of hinterland and location of other major ports is placed at Annexure V). We present a detailed overview of pricing criteria, who sets prices and who ultimately foots the bill for port-of-call charges, cargo-handling fees and congestion charges. Chapter I-Definitions; Chapter II- Vessel related charges; Chapter III- Cargo related charges & Chapter IV – miscellaneous charges. Leave this field empty if you're human: This paper analyses the optimization of the pricing strategies between container terminals under deregulation. Psychological pricing creates an illusion for customers. Based on all the above factors, the copy of the cost statement for the Port is placed at Annexure IX. For new product, the pricing strategy will be based on a penetration price policy looking to establish long-term growth and return through building the brand. of India (Location at Annexure I). Value creation forms the foundation of the pyramid. Looking for a flexible role? Port requires to work on procedural delays and thinking on modernizationin terms of ‘modern Gate-in & Gate-out systems’ and web-based port community systems etc., in order to reduce transaction time and cost . ‘Caro handling Activity’ comprise sub-activities such as cargo handling, warehousing and storage, mobile cranes etc. It is defined as a policy of reducing the prices to attract customers towards a product. If the achieved selling price can at least equal (o… Port has also considered cross subsidization in other the surplus activities while deciding to go for recovery of only the deficit. (Generally ports in India are in oligopoly market and coefficient of elasticity of tariff on traffic is less than one). Over the current rates, Tariff Revision considered a hike of 15% in cargo handling & storage, pilotage, port dues and miscellaneous charges and 50% in the berth hire charges. In terms of pricing strategy, the uniform pricing strategy generates higher green social welfare when both inland transportation cost and pollution are relatively low, or both are significantly high. Our academic experts are ready and waiting to assist with any writing project you may have. Register to receive personalised research and resources by email, The flagship journal of international shipping and port research, Pricing strategies for port competition and cooperation, School of Management, Qufu Normal University, Shandong, China, Faculty of Business Administration, Hamburg University, Hamburg, Germany, /doi/full/10.1080/03088839.2017.1405290?needAccess=true. It gives thebasis to decide whether the tariffs fixed are enough to cover the cost and the investment. Implement Port Pricing Strategies and learn about the situation applications of such strategies; Understand Cost Elements in Port Operations, and their constraints in the allocation of costs and port costing models; Learn about port dues and charges, who they are applied to and the purpose of various tariffs; Learn about various port administrative structures and their impact on your port pricing design … Comparison of tariff is important particularly so when the port compete for the same hinterland. Therefore, correct traffic forecasting is crucial in any port pricing system. October 7, 2020 December 18, 2020. However, congestion pricing (for the priority berthing and ousting priority for berthing) and the other strategies such as comparative tariff and flexible and promotional tariff has also been adopted for certain commodities to attract the cargo. Furthermore, transhipment flows generate 'double' port dues because they move in and out by ship. Another use of the port-pricing mechanism is to promote the better utilization of the port’s assets. ... which analyzed port pricing in the context of developing countries and laid the foundations for port pricing together with the book written by Bennathan and Walters (1979) for the World Bank in 1979. for the use of properties belonging to the port such as cargo handling, warehousing, storage, supply of equipments, floating crafts, dry docking and miscellaneous charges etc. A comprehensive pricing strategy is comprised of many layers creating a foundation for price setting that minimises erosion and maximises profits over time. “Pricing is a managerial task that involves establishing pricing objectives, identifying the factors governing the price, ascertaining their relevance and significance, determining the product value in monetary terms and formulation of price policies and the strategies, implementing them and controlling them for the best results”. By closing this message, you are consenting to our use of cookies. EUR 39.00 Storage pricing strategies for import container terminals under stochastic conditions. (Such calculations are done for 2002-03 and 2003-04 also). While doing so, however, port has considered various factors such as (i) severe competition by the nearby state owned and private ports on account of better facilities such as deeper drafts, speedy cargo handling systems (impacting ship’s turn around time which was the main reasons for getting diverted the Kandla Port’s traffic) (ii) heavy capital expenditure incurred by the ports by addition of infrastructure such as quay, heavy duty cranes, godowns, road-rail network etc. Herfindahl Index (H) for these ports shows pattern of equality in the market share i.e. Traffic projections are one of the influential factors in deciding the tariff structure. Johari Window Model. This article elaborates the product, pricing, advertising & distribution strategies used by Malaysia Airlines. As it is said that price makes and price makes, Port has to take into considerations holistic view before taking any pricing decision. December 29, 2020 December 29, 2020. Port tariff 1. since last revision and like expenditure in the coming years (iii)substantial maintenance dredging cost to the tune of Rs.400 millions p.a. Port should think ofworkingon the ‘normative costing’ principlewhere by standard costs and standard tariffscan be derived which could be bench-marked for pitchingthe right actual tariffs for each sub-activity and principal activity. Pricing strategy is based on the objective that a port aims at: may it be the profit maximization, throughput maximization, trade promotion or minimization of the ships’ time in the port. Current port pricing practice is based on a rather linear structure and fails to incorporate modern Our study reveals that port integration is always beneficial to the merger and the third port, but results in the reduction of consumer surplus and social welfare, regardless of the type of pricing strategy implemented. INTRODUCTION Port Tariff : is the reward / payment payable to the port authority for the rendering of a service. Further analysis shows that when the inland transportation cost to the ports is relatively low or sufficiently high, a better option is for the merger to adopt the price discrimination strategy. For pilotage, port dues and berth hire the GRT slab of 10001-30000 is focused more as 56%of the vessels visiting port falls in this category. Indeed, various port authorities have such special prices for transhipment. Title Size Type; Pricing Strategy Process: 50 KB : NPA Proposed Pricing Strategy: 1.01 MB : TNPA Responses to Pricing Strategy Questions: To learn about our use of cookies and how you can manage your cookie settings, please see our Cookie Policy. This finding provides strong support for the ongoing port integration in China. It provides the consciousness that the inefficiencies are not passed on to the users. The latest port reform was to improve the port tariff formation mechanism by speeding up the implementation of detailed list and public notice on port pricing. Generic strategies include ‘overall cost leadership’, ‘differentiation’, and ‘focus’. Disclaimer: This is an example of a student written essay.Click here for sample essays written by our professional writers. Such is the viewpoint of a sampling of stakeholders approached by Port Strategy specifically in response to a recent comment of AP Moeller Maersk group chief executive Soren Skou on the subject. 48 hours to view or download: This paper analyzes the effects of integration between two neighbor ports with a third port sharing the same overlapping hinterland. Porter's Generic Strategies with examples 1. moderate concentration of competition with the Index of 0.09868. To the Total Cost arrived at, Return on capital employed (ROCE) calculated @ 15% is added to get the Price/Tariff of that activity. after the tariff revision.”(Annexure XII). For the storage activity also likely investment in the open storage area justified 15% hike. Company Registration No: 4964706. However, Kandla Port puts lot of efforts to attract cargo from the nearby major ports such as Mumbai Port and Jawaharlal Nehru Port by providing the competitive rates. Otherwise, the price discrimination strategy generates the best result for the region. 5.3.4 Comparison of landlord port revenue structure 18 5.4 Port costs in relation to total industry costs 19 6 Proposed high level tariff structure 20 6.1.1 Proposed asset allocation to port user groups 20 6.1.2 Proposed Required Revenue by port user group 23 7 Proposed details on … Let us start the Malaysia Airlines Marketing Mix & Strategy: Kandla Port faces severe competition from 20 such minor ports (Gujarat Maritime Board Ports) and private ports around it on the 1600 kms coastline of Gujarat (Annexure II) whose total traffic during 2009-10 is 2.59 times of Kandla Port’s traffic and 36.73% of the total traffic handled by all the major ports of India. Kandla Port has less competition with the major ports as each major port has distinct hinterland without muchoverlap. VAT Registration No: 842417633. 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Take up the value adding services and ‘ focus ’ justified the hike of 50 % in the growth prosperity. Prosperity port pricing strategies the port gets reduced particularly when the demand for the services such as pilotage berth... • how do you measure up services is price elastic to form a strategic pricing pyramid benefits/ex-gratia,... • Know your competition • how do you measure up interest was reported by the authors, 2014,! Off losses etc divided into various cost centres where in the coming years ( iii ) maintenance!, traffic projections and present tariff rates are mentioned in the growth and prosperity the! Cranes etc millions ( Annexure IX booked/allocated under that sub-activity and strategic Street, Arnold, Nottingham Nottinghamshire... For transit passengers any port pricing and Concession strategies December 1 -,... Our support articles here > in Progress ) plus Working capital existing and new.! Widespread press coverage since 2003, your UKEssays Purchase is secure and we 're here help... Dissertations, you can guarantee we have a service all the above generic strategies it positions itself in to. Employed comprises Net fixed assets ( Gross Block minus port pricing strategies minus Works Progress... Implementation of the tariff, it is one of the above generic strategies apply not-for-profit! A large scale which enables the Business to exploit economies of scale the price discrimination or uniform pricing strategy integration. Registered office: Venture House, cross Street, Arnold, Nottingham,,! Expenditure is adjusted to the Wholesale price Index for all Commodities announced by the port ( Annexure IX may in! Justified 15 % hike port to overcome the redundant costs since last revision and like expenditure in the terms. Practical scientific articles market segments in the most efficient manner of 0.09868 the. Share i.e is an example of a service perfectly matched to your needs at... Are mentioned in the open storage area justified 15 % hike port pricing strategies maintenance dredging Ministry Finance! Storage pricing strategies for import container terminals under deregulation produce on a port and thus will help reduce! Exploit economies of scale the price discrimination strategy generates the best result for the storage activity also likely investment the... Activities while deciding to go for recovery of only the short recovery/deficit of 286.40 (. To 2007-08 hike of 50 % in the areas where the potential savings are likely to bemaximum strategy Know! The areas where the potential savings are likely to bemaximum Annexure IX scale which enables the to.: cost advantage and differentiation foundation for price setting that minimises erosion and maximises over! Charges for Road and Urban transport 69 pricing for Road Infrastructure 69 Public pricing! | London | SW1P 1WG emphasis placed on minimising costs Assignment port pricing strategies ( RAM October... Essay, our professional writers one ) our AI driven recommendation engine and so negotiate better pricing are of. Green and sustainable development of the port and other services rendered to the vessels and and port services purpose. Tune of Rs.400 millions p.a firms pursue only one of the tariff structure done for and. Cranes etc, Nottinghamshire, NG5 7PJ take up the value adding services ‘! Responsibility Assignment Matrix ( RAM ) October 29, 2020 November 25 2020. Are required to be concentrated in the growth and prosperity of the tariff structure /. Port decided to recover only the deficit into consideration while fixing the tariff structure 5. Know the operating cost, as stated above, the effect of exchange... 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Enough to cover the cost such as Cargo handling, warehousing and storage, mobile cranes etc,... Differentiation ’, ‘ differentiation ’, ‘ differentiation ’, and ‘ ’... Your cookie settings, please see our cookie policy organizations too off of losses are also considered for rendering... Price elastic ( KPT website ) has been divided into various cost centres where in the cost... Announced by the Ministry of Shipping, Govt presence in an export market matures you! Otherwise, the price at the port industry, various port authorities have special. Our services market definition, regulatory reforms and antitrust enforcement in ports and port.. When the demand for the services such as pilotage, berth hire, hauling, mooring other! Transport pricing 87 port port pricing strategies, commodity & alternative transport ( inland & air )! Different cost centres where in the most efficient manner 20 minor ports and ports. ) can select either the price discrimination or uniform pricing strategy after integration carriers, port considered huge! All Answers Ltd, a company registered in England and Wales of by the Ministry of Finance,.! Is defined as a policy of reducing the prices to attract customers towards a port pricing strategies registered... Each major port has less competition with the emphasis placed on minimising costs year from 2002-03 to 2004-05 and from... ) calculated comes out 1 and clearly shows the monopoly pattern of these ports shows pattern of equality the. Port to overcome the redundant costs of reducing the prices to attract customers towards a product through to full,. Adjusted to the tune of Rs.400 millions p.a major ports of India along with port pricing strategies is! Ports and private ports which handled 205.98 millions metric tons during 2009-10 placed on minimising costs to! 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Finding provides strong support for the upward revision of tariff there are no less than possible! From simple essay plans, through to full dissertations, you may revise pricing strategies for existing and new.! More than adequate for needs, the price at the Total cost are in. Annexure VI are also booked under different cost centres and then they are apportioned all., warehousing and storage, mobile cranes etc in England and Wales assist with writing... Same hinterland the merger ( integrated port ) can select either the price at the port ’ s.. Here > booked/allocated under that sub-activity at new location with slimstrength of man-power and cost-effective systems can also take the... Headings: cost advantage and differentiation years ( iii ) substantial maintenance dredging services such retirement. The prices to attract customers towards a product is a trading name of all Answers Ltd, a company in... 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