Exam3ReviewSheet - Exam 3 Review The review sheet given...

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Exam 3 Review The review sheet given below is mainly for material from the textbook. Some guidelines related to lectures are provided as well. Please be thorough with material from the lectures also before you come to the exam. Read the book first. However, DO NOT FORGET TO GO OVER THE LECTURE NOTES. NB: IN ALL CHAPTERS, SKIP THE OPENING VIGNETTES, CHARTS, FIGURES, GLOBAL PERSPECTIVES AND “LOOKING BACK.” I ENCOURAGE YOU TO READ THESE, BUT I WILL NOT TEST YOU ON ANY SPECIFIC INFORMATION FROM THEM. Chapter 13, 14 (Pricing concepts) 1. The importance of price a. What is price? b. The importance of price to marketing managers 2. Pricing objectives a. Profit-oriented pricing objectives (skim) b. Sales-oriented pricing objectives (skim) 3. The demand determinant of price a. The nature of demand b. Elasticity of demand c. Factors that affect elasticity 4. The cost determinant of price (focus on definitions of fixed and variable costs) a. Break-even pricing 5. Other determinants (skim stages in the PLC) 6. Tactics for fine tuning price a. Discounts i. Quantity, Cash, and Trade discounts 7. Geographic pricing Additional thoughts from the lecture 8. Price and non-price competition slides (always engage in nonprice competition by adding value;
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This note was uploaded on 09/08/2011 for the course MAR 3023h taught by Professor Kim,j during the Spring '08 term at University of Central Florida.

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Exam3ReviewSheet - Exam 3 Review The review sheet given...

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