33:630:301 Chapter Notes - Chapter 13: Fixed Cost, Variable Cost
Document Summary
Price the money or other consideraions exchanged for the ownership/use of a product/service. Value-pricing pracice of simultaneously increasing product and service beneits while maintaining/decreasing price. Proit equaion (unit price x quanity sold) (ixed cost + variable cost) 1: esimate demand and revenue, determine cost, volume, and proit relaionships, select an appropriate price level, set list or quoted price, make special adjustments to list or quoted price. Pricing objecives specifying the role of price in an organizaion"s markeing and strategic plans. 3 objecives that relate to a firm"s proit: managing long-run-proit, maximize current proit, target return. Market share raio of the irm"s sales revenue or unit sales to those of the industry (compeitors plus the irm itself) Unit volume quanity produced or sold as a pricing objecive. Pricing constraints factors that limit the range of prices a irm may set.
