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WEEK5_ENTREP_LC6C.docx - ENTREPRENEURSHIP For any...

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ENTREPRENEURSHIPPRICEDATE:___________________STUDENT’S NAME:______________________________________________________TRACK / STRAND (SECTION):_____________________________________________1.OBJECTIVEDevelop a price suitable to market’s ability to pay.2.INTRODUCTIONContinuous learning is the minimum requirement for success in any field.” - - Waitley____________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________3.DISCUSSIONPRICE –determines the value of a good or service to the buyers even to the sellers. The company must provide ways toconceptualize actions to attract customer patronage using the price. Also, price means the money value of a product orservice expressed in terms of peso or centavos.FIVE STEPS IN DEVELOPING A PRICING STRATEGY:I.OBJECTIVE– this may be any of the following:a.SALES BASED– the firm id interested in sales growth and/or maximizing market share.b.PROFIT-BASED– the firm is interested in maximizing profit, earning a satisfactory profit, optimizing thereturn on investment or securing an early recovery of cash.c.STATUS QUO BASED– the firm seeks to avoid reasonable government actions, minimize the effects ofcompetitor actions. The goal of the company is to maintain good image to the community by creatingprojects/ programs that protects its welfare and goodwill.

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Term
Fall
Professor
roces

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