MKT 280 - Part 7 - Ch 20 and 21 - Pricing - Fall 2007

MKT 280 - Part 7 - Ch 20 and 21 - Pricing - Fall 2007 -...

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Unformatted text preview: Pricing Part 7 Chapters 20 and 21 Pricing Model Set pricing objectives Evaluate product-price relationship Value vs. Premium pricing Estimate costs Profit potential Quantity discounts Promotional allowances Slotting allowances Pricing Model Set price Evaluate/change price Base on the following: Is the company attaining its goals? Demand of product Competitor reaction Ability or inability to manufacture more product Other environmental factors The Role of Price in Balancing Supply and Demand (1) Quantity Price P 2 P E P 1 Q 2 Q 3 Q 1 Q E C o n s u m e r s B i d P r i c e s U p C o n s u m e r s B i d P r i c e s U p S e l l e r s R e d u c e P r i c e s S e l l e r s R e d u c e P r i c e s Supply Curve Demand Curve Shortage Shortage of Supply of Supply Surplus Surplus of Supply of Supply Price-Based Approach Quantity Price P 2 P 1 Q 2 Q 1 Demand Curve...
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This note was uploaded on 10/13/2010 for the course MKT B280 taught by Professor Lawrence during the Fall '08 term at Loyola New Orleans.

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MKT 280 - Part 7 - Ch 20 and 21 - Pricing - Fall 2007 -...

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