BU352 Chapter Notes - Chapter 11: Marketing, Demand Curve, Marketing Mix
Document Summary
Chapter 11: pricing concepts and strategies: establishing value. Lo2: 5 c"s company objectives, customers, cost, competition, and channel members company. Target return pricing to produce a return on investment o sales orientation: increasing sales will hep the firm more than increasing profits. Or a firm may set low prices to discourage new firms from entering the market, encourage current firms to leave the market and take market share away from competitors. Bu352 marketing - final exam aishwarya vats o customer orientation: invokes the concept of value. Firm attempts to increase value by focusing on customer satisfaction and setting prices to match consumer expectations customers: understanding customer reactions to different prices. Consumer"s ability to substitute other products for the focal brand. The greater the availability of substitute products, the higher the price elasticity of demand for any given product will be.
