COMM 296 Chapter Notes - Chapter 14: Demand Curve, Marketing, Root Mean Square
Document Summary
Chapter 14 - pricing concepts for establishing value. Price - the overall sacri ce a consumer is willing to make - money, time, energy - to acquire a speci c product or service. Set primary goal and then embraces objectives that the rm seems to think ts with the route to be successful in whatever they de ne as success. A company objective that focuses on target pro t pricing, maximizing pro t, target return pricing. Target pro t pricing: implemented when the rm have a particular pro t goal as their. Should be able to identify the price at which its pro ts are maximized. Objectives based on the belief that increasing sales will help the rm more than will increasing pro ts. Competitive parity: setting prices that are similar to those of major competitors. Status quo pricing: competitor oriented strategy in which a rm changes prices only to meet those of competition.
