Chapter 19_Pricing Concepts

Chapter 19_Pricing Concepts - Lamb, Hair, McDaniel...

Info iconThis preview shows pages 1–6. Sign up to view the full content.

View Full Document Right Arrow Icon
1 Lamb, Hair, McDaniel CHAPTER 19 Pricing Concepts 2010-2011
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
2 LO 1 Discuss the importance of pricing decisions LO 2 Explain a variety of pricing objectives LO 3 Explain the role of demand in price LO 4 Understand yield management systems LO 5 Describe cost-oriented pricing strategies LO 6 Demonstrate how the product life cycle, competition, distribution and promotion strategies, customer demands, the Internet perceptions of quality can affect price Learning Outcomes Learning Outcomes
Background image of page 2
3 What Is Price? Price is that which is given up in an exchange to acquire a good or service. Price Price LO 1
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
4 The Importance of Price to Marketing Managers Revenue Revenue The price charged to customers multiplied by the number of units sold. The price charged to customers multiplied by the number of units sold. Profit Profit Revenue minus expenses. Revenue minus expenses. LO 1
Background image of page 4
Trends Influencing Price Flood of new products Flood of new products Increased availability of bargain-priced private and generic brands Increased availability of bargain-priced private and generic brands Price cutting as a strategy to maintain or regain market share Price cutting as a strategy to maintain or regain market share Internet used for comparison shopping Internet used for comparison shopping LO 1 U.S. recession from late 2007 to 2009. U.S. recession from late 2007 to 2009.
Background image of page 5

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 6
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 23

Chapter 19_Pricing Concepts - Lamb, Hair, McDaniel...

This preview shows document pages 1 - 6. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online