View
225
Download
0
Category
Tags:
Preview:
Citation preview
BUILDING BUILDING THE PRICE FOUNDATIONTHE PRICE FOUNDATION
BUILDING BUILDING THE PRICE FOUNDATIONTHE PRICE FOUNDATION
CHAPTER 13
•What is a Price? Barter
•Price as an Indicator of Value Value-pricing
•Price in the Marketing Mix Profit Equation
NATURE AND IMPORTANCE OF PRICE
The price of four different purchasesThe price of four different purchases
Steps in setting priceSteps in setting price
•Identifying Pricing Constraints• Demand for the Product Class, Product, and Brand
• Newness of the Product: Stage in the Product Life Cycle
• Single Product versus a Product Line
• Cost of Producing and Marketing the Product
• Cost of Changing Prices and Time Period They Apply
• Types of Competitive Markets Pure monopoly, Oligopoly, Monopolistic competition,
Pure competition
• Competitors Prices
STEP 1: IDENTIFY PRICING CONSTRAINTS AND OBJECTIVES
Pricing, product, and advertising strategies available to firms in Pricing, product, and advertising strategies available to firms in four types of . . . marketsfour types of . . . markets
• Identifying Pricing Objectives• Profit
• Sales
• Market Share
• Unit Volume
• Survival
• Social Responsibility
STEP 1: IDENTIFY PRICING CONSTRAINTS AND OBJECTIVES
Where each Where each dollar of your dollar of your movie movie ticket goesticket goes
Illustrative demand curves for Illustrative demand curves for NewsweekNewsweek magazine magazine
• Fundamentals of Estimating Revenue Total revenue Average revenue Marginal revenue
• Demand Curves and Revenue
• Price Elasticity of Demand
• Price Elasticity for Brands and Product Classes
STEP 2: ESTIMATE DEMAND AND SERVICE
Fundamental revenue conceptsFundamental revenue concepts
• The Importance of Controlling Costs Total cost
Fixed cost
Variable cost
•Break-Even Analysis Break-even point
STEP 3: DETERMINE COST, VOLUME, AND PROFIT RELATIONSHIPS
Calculating a break-even pointCalculating a break-even point
Break-even analysis chartBreak-even analysis chart
Recommended