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7 Cards in this Set
- Front
- Back
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identify 3 major pricing strategies |
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what is the importance of understanding customer value perceptions, company costs, and competitor strategies? |
- customer perceptions of value = price ceiling; no demand above this price - company costs = knows how much to sell the price in terms of B/E -product costs = cannot be lower; no profits below this price point |
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what are the external and internal factors affecting firm's pricing decisions? |
external: marketing channels, competition, internal: resources, brand positioning (i.e.: will-full pricing) |
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what are the major strategies for pricing new products? |
1. customer value-based pricing: uses buyer's perception of value 2. cost-based pricing: quality at a given price (ex: 3. competition-based pricing |
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explain how companies adjust their prices to take into account different types of customers and situations? |
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discuss key issues related to initiating and responding to price changes |
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list and briefly describe the major legislation in Canada that affect marketers' pricing decisions |
62 |
