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Pricing. Chapter 19. Pricing. Price Barter Price equation. What is Value?. Value= Perceived benefits/cost Value-pricing Do higher prices= Better products? Profit= Total Revenue- Total Cost. Pricing Process. Step 1: Identify Pricing Constraints. Pricing Constraints Demand Newness

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Presentation Transcript
pricing

Pricing

Chapter 19

pricing1
Pricing
  • Price
  • Barter
  • Price equation
what is value
What is Value?
  • Value= Perceived benefits/cost
    • Value-pricing
  • Do higher prices= Better products?
  • Profit= Total Revenue- Total Cost
step 1 identify pricing constraints
Step 1: Identify Pricing Constraints
  • Pricing Constraints
    • Demand
    • Newness
    • Single product v. Product Line
    • Production and Promotion Costs
    • Costs of Changing Prices
    • Type of Competitive Markets
    • Competitors’ Prices
step 1 pricing objectives
Step 1: Pricing Objectives
  • Profit
  • Sales
  • Market Share
  • Unit Volume
  • Survival
  • Social Responsibility
step 2 estimate demand and revenue
Step 2: Estimate Demand and Revenue
  • Demand
    • Demand factors
  • Estimating Revenue
    • Total Revenue
    • Average Revenue
    • Marginal Revenue
    • Price Elasticity
step 3 determine cost value and profit relations
Step 3: Determine Cost, Value, and Profit Relations
  • Costs
    • Total cost
    • Fixed cost
    • Variable Cost
    • Marginal Cost
  • Break-even Analysis
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