L11 Pricing 1 - The essence of pricing is the exchange...

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The essence of pricing is the exchange process Price is simply a way to quantify the value of objects being exchanged Typically, money is exchanged for the sport product Other forms of pricing are referred to as trade Exchange of goods (e.g., baseball cards) Exchange of time or service
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The concept of value is the central principle of pricing Value = Perceived Benefits Price of Sports Product Value varies greatly from consumer to consumer
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Pricing must be consistent with product, distribution, and promotional planning How is price connected to other marketing mix variables? Promotion ? Communicates the price to consumer Price can be the central focus of a comparative advertisement Sales promotion are directly related to price Price negotiation in personal selling Publicity related to fair prices Distribution? Price is dictated (in part) by the choice of distribution channels
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Product: Price is related to expectations of
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This note was uploaded on 06/05/2011 for the course SMGT 3330 taught by Professor Hall during the Spring '11 term at Georgia Southern University .

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L11 Pricing 1 - The essence of pricing is the exchange...

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