Chapte 19 - Pricing Concepts Marketing CHAPTER 1 Chapter 19...

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Chapter 19 1 Marketing Pricing Concepts 1 CHAPTER
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Chapter 19 2 Learning Outcomes Discuss the importance of pricing decisions to the economy and to the individual firm List and explain a variety of pricing objectives Explain the role of demand in price determination Describe cost-oriented pricing strategies LO LO LO LO
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Chapter 19 3 Discuss the importance of pricing decisions to the economy and to the individual firm The Importance of Price The Importance of Price LO
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Chapter 19 4 What Is Price? Price is that which is given up in an exchange to acquire a good or service. Price
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Chapter 19 5 Money Money Price is typically the money exchanged for the good or service. Time Time Price may also be the time lost while waiting to acquire the good or service. Perceived Value Perceived Value In a broad sense, price can relate to anything with perceived value, such as an exchanged item. What Is Price?
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Chapter 19 6 The Importance of Price Price allocates resources in a free-market economy To the consumer. .. Price is the cost of something To the seller. .. Price is revenue
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Chapter 19 7 The Importance of Price to Marketing Managers Revenue Price per Unit x Quantity Sold Profit Total Revenue – Total Cost
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Chapter 19 8 Trends Influencing Price Flood of new products Increased availability of bargain-priced private and generic brands Price cutting as a strategy to maintain or regain market share Internet used for comparison shopping
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Chapter 19 9 REVIEW LEARNING OUTCOME LO The Importance of Pricing Decisions Price X Sales Unit = Revenue Revenue – Costs = Profit Profit drives growth, salary increases, and corporate investment
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Chapter 19 10 List and explain a variety of pricing objectives Pricing Objectives Pricing Objectives LO
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Chapter 19 11 Pricing Objectives 2 Profit-Oriented Sales-Oriented Status Quo
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Chapter 19 12 Profit-Oriented Pricing Objectives Profit-Oriented Pricing Objectives Profit-Oriented Pricing Objectives Profit Maximization Satisfactory Profits Target Return on Investment 2
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Chapter 19 13 Profit Maximization Profit Maximization Setting prices so that total
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Chapte 19 - Pricing Concepts Marketing CHAPTER 1 Chapter 19...

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