9 9 price price elasticity of demand ainelasticdemand

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Unformatted text preview: Each Other’s Who Trade Over a Sensitive to Each Other’s Who Trade Over a Pricing/ Marketing Range of Prices Pricing/ Marketing Range of Prices Strategies Strategies 9-8 Demand Curve Can a demand curve ever be upward sloping? 9-9 Price Price Elasticity of Demand A. Inelastic Demand ­ Demand Hardly Changes With a Small Change in Price. P2 P1 Price Q2 Q1 Quantity Demanded per Period B. Elastic Demand ­ Demand Changes Greatly With a Small Change in Price. P’ 2 P’1 Q2 Quantity Demanded per Q1 9-10 Major Considerations in Setting Price (Fig. 10-3) 9-11 Cost-Based Pricing Certainty About Costs Price Competition Is Minimized Fairer to Buyers & Sellers d e t c e p x e n U a n o i t a u t i S l F s r o t c a Pricing is Simplified Cost­Plus Ethical Pricing is an Approach That Adds a Standard Markup to the Attitudes of Cost of the Others Product Simplest Pricing Method Ignores Current Demand & Competition 9-12 Cost-Based Versus ValueBased Pricing (Fig. 10-5) 9-13 Competition-Based Pricing Methods for Setting Prices Going­Ra...
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