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10-30 Lecture - AEM 2400 Lecture Biggest holidays for...

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10/30/09 AEM 2400 Lecture Biggest holidays for marketers: (consumer spending in $B) 1. Halloween 2. Father’s Day 3. Mother’s Day 4. Easter 5. Valentine’s Day 6. Christmas/Hanukah/Kwanzaa biggest Video Clip: Halloween Ad in Germany Selecting a price level: Van Gogh 1. Demand approaches 2. Cost approaches 3. Profit oriented approaches 4. Competition approaches 5. MC does not equal MR can’t use it to establish a price level Demand based approaches 1. Prestige pricing 2. Skimming vs. penetration 3. Odd-even pricing (“on the 9’s”) Control Test A Test B 1. $39 $44 $34 2. $49 $54 $44 3. $59 $64 $54 4. $79 $84 $74 Control Test A Test B 1. 21 17 16 2. 14 8 10 3. 7 7 6 4. 24 12 15 Study at a catalog store Cost orientated approaches 1. Standard markup a. Easy to use b. Supermarket Gross Margins slide – average gross margin (markup) depends on the department in the supermarket i. Produce, deli, bakery > rest of the store 1. Very perishable so a lot gets thrown away 2. Costs a lot of labor for produce 2. Cost plus pricing (% and fee) a.
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