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elling Price

elling Price. Determining the correct price. And Selling Price is?. Selling Price- The amount a seller charges for a good or service All businesses follow a process to determine prices Selling prices are dynamic. Components of Selling Price. Importance. For Business

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elling Price

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  1. elling Price Determining the correct price

  2. And Selling Price is? • Selling Price- The amount a seller charges for a good or service • All businesses follow a process to determine prices • Selling prices are dynamic

  3. Components of Selling Price

  4. Importance • For Business • Determine income from sales • Reach company goals • For Customers • Product comparison • Money allocation decisions

  5. Pricing Objectives • Should be compatible with marketing objectives. • May change over time

  6. Pricing Objectives-Sales Oriented • What is the purpose? • To increase the total amount of income from sales • Objectives: • Creating an image • Be more competitive • Obtaining, maintaining, or increasing market share

  7. Pricing Objectives- Profit Oriented • What is the purpose? • To create profits for the business • Objectives • Surviving • Maximizing Profits • Earning return on investment • Earning return on sales

  8. Factors Affecting Selling Price • Costs • Fixed • Variable • Supply and Demand • Economic Conditions • Competition • Pure Competition • Monopolistic Competition • Oligopoly • Monopoly

  9. Factors Affecting Selling Price(cont.) • Government Regulation • Price fixing • Price discrimination • Price advertising • Unit pricing • Distribution Channels • Company Objectives and Strategies • Product mix • Product life cycle • Target market

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