MAT 114 Lecture Notes - Lecture 10: Hosiery, Markdown, Personal Selling
Document Summary
Interaction between a retailer"s pricing objectives & other. Retailer needs to consider the range of prices made available to the consumer. Attract customers from a distance = increase promotion efforts or lower prices. Offering to finance purchases = charging higher prices. Retailers that offer many customer services tend to have higher prices. A cue a customer uses in determining the retailers image is the retailers price. Different laws in different states & in other parts of the world. Retailer sets a specific level of profit as objective. Retailer seeks to make as much profit as possible. Skimming: trying to sell at the highest price before settling on a more competitive level. Seek some level of unit sales, dollar shares, or market share but do not ment profit. Rules of actions or guidelines that ensure the uniformity of pricing decisions wi more do not mention ons within a.