Chapter_10B - Pricing Tactics & Strategies (week 9) 1...

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1 (week 9)
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2 Chapter Objectives 1. Explain how marketing objectives, marketing-mix strategy, costs and other company factors affect pricing decisions. 2. Explain how price setting depends on consumer perceptions of price and on the price-demand relationship. 3. Compare the four general pricing approaches. 4. Explain how companies adjust their prices to take into account different types of customers and situations.
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3 Price comes under many guises Tuition Education Interest Use of money Rent Use of item for period of time Fare Taxi or airline Fee Services for doctor Retainer Services over a period Toll Travel on a highway Salary Services of an executive Dues Membership Premium Insurance
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4 What is Price Price is the amount of money charged for a product or service. More broadly, price is the sum of the values consumers exchange for the benefits of having or using the product or service.
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5 Factors Affecting Price Internal Factors Pricing Decisions External Factors
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6 Factors Affecting Price
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7 Factors To Consider When Setting Prices Internal Factors Marketing objectives Survival Current profit maximisation Market share leadership Product quality leadership Other objectives Marketing Mix Strategy Costs Variable costs Total costs Production levels costs Experience curve costs Organisational Considerations
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8 Costs At Different Production Levels
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9 Cost As A Function Of Production Experience
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Chapter_10B - Pricing Tactics & Strategies (week 9) 1...

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