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Develop a foundational knowledge of PRICING to understand its
Develop a foundational knowledge of PRICING to understand its

PRICING DECISIONS
PRICING DECISIONS

Document
Document

08-2 Price Planning 2_-_price_planning
08-2 Price Planning 2_-_price_planning

... Break Even Point (BEP) – the point where sales revenue equals the costs and expenses of making and distributing a product. Job One for any business is to know their break even point ...
Pricing - Carecon
Pricing - Carecon

Marketing Strategies (MKT500) Industry/Company Analysis
Marketing Strategies (MKT500) Industry/Company Analysis

Monopoly and Imperfect Competition
Monopoly and Imperfect Competition

AdvPric
AdvPric

Marketing mix of XY company
Marketing mix of XY company

... Marketing mix of XY company Structure of the marketing project 1. Introduction  History and business development  Company mission and business focus 2. Target market and target consumers 3. Product policy  Assortment, quality  Brand, logo, external product features  Innovations, services 4. Pri ...
04/15 - David Youngberg
04/15 - David Youngberg

... cause the demand to exceed capacity, something that cannot be expanded in the short run. And since this spike in demand is shortlived, it may not be worth expanding capacity to meet these predictable cycles. b. Peak-load pricing—charging higher prices during peak times compared to off-peak times c. ...
Monopoly Behavior Price discrimination: first, second and
Monopoly Behavior Price discrimination: first, second and

... than quantity of the good. Idea: reduce the quality offered to the low-end of its market, to prevent high-end customers from switching end get more of their surplus. E.g.: “unrestricted airfare” for business travel and “restricted airfare” for non-business. E.g.: First-class and coach class. ...
Types of Competition
Types of Competition

Internal Factors to Consider in Pricing
Internal Factors to Consider in Pricing

Ethical and Legal Aspects of Marketing
Ethical and Legal Aspects of Marketing

... Marketing can now create a need in a consumers mind instead of targeting a demand in customers. Issues with advertising to kids ...
Pricing - Willamette University
Pricing - Willamette University

Supply and Demand
Supply and Demand

... very little effect on demand ...
Pricing strategies in business - Lesson element - Learner task
Pricing strategies in business - Lesson element - Learner task

... consumers to purchase products and services which in turn will increase the business profits. ...
SEM_4.07_Review_Questions
SEM_4.07_Review_Questions

... Objective 4.07 ...
Shortages and Surpluses
Shortages and Surpluses

Economics in Daily Life----Consumer Surplus and Sales Strategies
Economics in Daily Life----Consumer Surplus and Sales Strategies

...  An economic measure of consumer satisfaction  Difference between what consumers are willing to ...
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Price discrimination

Price discrimination or price differentiation is a pricing strategy where identical or largely similar goods or services are transacted at different prices by the same provider in different markets. Price differentiation is distinguished from product differentiation by the more substantial difference in production cost for the differently priced products involved in the latter strategy. Price differentiation essentially relies on the variation in the customers' willingness to pay.The term differential pricing is also used to describe the practice of charging different prices to different buyers for the same quality and quantity of a product, but it can also refer to a combination of price differentiation and product differentiation. Other terms used to refer to price discrimination include equity pricing, preferential pricing, and tiered pricing. Within the broader domain of price differentiation, a commonly accepted classification dating to the 1920s is: Personalized pricing (or first-degree price differentiation) — selling to each customer at a different price; this is also called one-to-one marketing. The optimal incarnation of this is called perfect price discrimination and maximizes the price that each customer is willing to pay, although it is extremely difficult to achieve in practice because a means of determining the precise willingness to pay of each customer has not yet been developed. Group pricing (or third-degree price differentiation) — dividing the market in segments and charging the same price for everyone in each segment This is essentially a heuristic approximation that simplifies the problem in face of the difficulties with personalized pricing. A typical example is student discounts. Product versioning or simply versioning (or second-degree price differentiation) — offering a product line by creating slightly different products for the purpose of price differentiation, i.e. a vertical product line. Another name given to versioning is menu pricing.↑ ↑ 2.0 2.1 2.2 2.3 ↑ 3.0 3.1 3.2 3.3 ↑ ↑ ↑ ↑ 7.0 7.1 7.2 7.3 7.4 7.5 ↑ 8.0 8.1 8.2 ↑ 9.0 9.1 ↑ ↑ 11.0 11.1 ↑ ↑
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