Chapter 11 brain diagram

Chapter 11 brain diagram - -Enlarge sales-Retain or expand...

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1. ESTABLISH PRICING OBJECTIVES 2. DETERMINE DEMAND 3. ESTIMATE COSTS 6. DEVELOP PRICING TACTICS 5. CHOOSE A PRICING STRATEGY 4. EVALUATE COMPETITORS’ PRICES - Competitors’ prices are taken into account - Collected by research or buy pricelists - Exclusive image or pricing advantage is created PRICE Influences and Constraints Business objectives Marketing objectives Product characteristics Distribution channel Target market characteristics Competitor characteristics Strengths and weaknesses Sales objectives: - Maintain sales
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Unformatted text preview: -Enlarge sales-Retain or expand market share Other objectives:-Status quo pricing-Avoid price competition objective Profit objectives:-Maximum profit-Satisfactory profit-Target return profit-Price elasticity-Factors Floor price Variable costs Fixed costs Ceiling price 1) Discounting 2) Psychological pricing 3) New product pricing 4) Product mix pricing 1) Cost-oriented price setting 2) Competition-oriented price setting 3) Consumer-oriented price setting...
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This note was uploaded on 06/02/2011 for the course ECON 231 taught by Professor Anon during the Spring '11 term at Rotterdam Business School.

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