BUS 346 Chapter Notes - Chapter 14: Dynamic Pricing, Sherman Antitrust Act, Product Differentiation
Document Summary
Price is the overall sacrifice a consumer is willing to make -money, time, energy - to acquire a specific product or service. The 5 cs of pricing include instead generates profits. Price is the only element of the marketing mix that does generate costs but. Price is the most challenging of the fours ps to manage. Target profit pricing (company has particular profit goal as its overriding. Target return pricing (firms more interested in rate of return on their investment) Firms using a sales orientation to set prices believe that increasing sales will help the. When firms take a competitor orientation, they strategize according to the premise that. Competitive parity means firms set prices that are similar to those of their major. Status quo pricing changes prices only to meet those of the competition. A customer orientation is when a firm sets its pricing strategy based on how it can add.
