BA 320 Lecture 14 PRICING - PRICING BA 320 Fall, 2010...

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PRICING BA 320 Fall, 2010 Lecture 15
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ANNOUNCEMENTS If you have not already, please review the Important email I sent you yesterday about what the exam will cover. This lecture and the lecture on TH 10/28 (Retailing) will be included on the THIRD EXAM (as well as the corresponding chapters). Book keeps talking about “two” pricing chapters; there’s only one! REVIEW SESSION TUESDAY IN CLASS: ANNOUNCED QUIZ Thanks for the exam questions!
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AGENDA What does price mean in the marketing mix? The 5 Cs of Pricing Macro Influences on Pricing Legal and Ethical aspects of Pricing
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Price and Value What was the last purchase you made where you believed you got a bargain? 13-4 What was the last purchase you did NOT make because you thought the price was too high? Consumers view PRICE as one of the MOST important factors when making purchase decisions.
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FIRMS KNOW (OR NEED TO KNOW):    PRICE IS A STRATEGIC  VALUE SYMBOL If you eat bagels, how much did you pay for the last one you ate? How much would you pay for this one?
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“Price” = more than just money!  13-6 The “price” of a good represents the sacrifices consumers make to acquire them. NOT just the actual cost of the good to the consumer.
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Consider the “price” of a  trip to France Airline ticket: $800 Hotel: $1000 Meals: $500 What other monetary and nonmonetary sacrifices will you make for this trip?
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Price is a Signal PriceGrabber.com Website 13-8
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The Role of Price in the Marketing Mix (and the FIRM)
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BA 320 Lecture 14 PRICING - PRICING BA 320 Fall, 2010...

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