MC4304 Class 10 Pricing

MC4304 Class 10 Pricing - Pricing Agenda Questions or...

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Pricing
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Agenda • Questions or Comments? • Pricing • Brands in the News • Wrap Up
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Pricing 1.The sum or amount of money or its equivalent for which anything is bought, sold, or offered for sale. 2.Corporate strategy to determine the go to market value of a product or service.
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Pricing Strategy Steps Develop the marketing strategy. – Perform marketing analysis, segmentation, targeting Make marketing mix decisions. – Define the product, distribution & promotional tactics. Estimate the demand curve. – Understand how quantity demanded varies with price. – The law of demand: quantity demanded moves in the opposite direction of price (all other factors held constant).
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Demand Curve
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• Influencing factors, other than the price of the product, may shift the demand curve. – Consumer preference. – Prices of related goods. • Complements – an increase in the price of a complement reduces demand. • Substitutes – an increase in the price of substitute products increases demand. – Income changes.
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MC4304 Class 10 Pricing - Pricing Agenda Questions or...

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