Notes 10-30-2010

Notes 10-30-2010 - COMM 3315-502: Fundamentals of Marketing...

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COMM 3315-502: Fundamentals of Marketing Notes 10-30-2010 (B15) Pricing exercise o For each product Identify your chosen target market Propose a retail price for your product Propose a rationale for this price Where will consumers get this product? (place/distribution) 3D star atlas Pricing considerations o Corporate objectives Target share of market Cover costs Market share leadership o Competition Positioning Direct and indirect o Consumers Expected vs. value Expected – consumers have expectations of how much something is going to cost Value – want something to be “higher end” might price higher Price/quality relationship Pricing approaches o Cost-plus pricing Simple to do Add a set $ amount or %
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Somewhat of a production approach How much do you want to make? o Problems It ignores demand Fails to account for competition How are they positioning themselves It treats fixed costs on a per unit basis – fixed costs do not change with the number
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This note was uploaded on 01/24/2011 for the course COMM 3315 at UVA.

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Notes 10-30-2010 - COMM 3315-502: Fundamentals of Marketing...

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