MGTA02H3 Chapter : Chapter notes
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MGTA02H3 Full Course Notes
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Pricing and distributing goods and services pricing: deciding what the company will receive in exchange for its product pricing objectives: goals that producers hope to attain in pricing products for sale profit maximizing objectives. Pricing to meet business objectives (profit maximizing; market share, survival) : company must set price at a level where it makes maximum profit for each item, and sells the maximum number of items (ex. Senators raising prices when playing division rivals) consumer (no wholesaler); easy comparison shopping; joining forces for greater purchasing power is easier for businesses and consumers. : companies use prices to establish market share; lower prices likely means more people will be willing to try new product. Lowering price in order to get a larger market share. John deere priced agricultural equipment low enough to ensure survival. Pricings strategies (new products, old products) pricing existing products.