Any questions with syllabus?
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08.11.2018
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Bu səhifədəki naviqasiya:
Price is the value that customers give up or exchange to obtain a desired product.
Pricing – is about designing the right price for the right customer at the right time and location.
Good pricing strategies are usually…
Cost Customers
3 Current pricing strategy is identified by trial-and-error
Transaction Utility Transaction Utility
Same mug, two different experiment groups.
Any questions with syllabus?
Any questions with syllabus?
Price is the value that customers give up or exchange to obtain a desired product.
Price is the value that customers give up or exchange to obtain a desired product.
Payment may be in the form of:
money,
service or goods (bartering),
favors,
votes,
or anything else of value to the other party.
Profitability
Profit = Total Revenue –
Total Costs
(Unit Price x Quantity Sold) – Total Costs
Pricing – is about designing the right price for the right customer at the right time and location.
Pricing – is about designing the right price for the right customer at the right time and location.
Strategies – are systematic plans that takes many relevant factors into consideration.
Profit maximization
Unit
sales maximization
Gaining market share
Discouraging
market entry by competitors
Good pricing strategies are usually…
#1 Based on a solid understanding of the three C’s
#2 Customized
#3
Identified by trial-and-error
#1 Pricing strategy is based on a solid understanding of the
three C’s
Cost?
Customers?
Competition?
#2
Pricing strategy is customized
The company customizes the pricing of its sales lead according to the following:
Type
of leads received
Quality of leads received
Number of contractors it sells to
Identity of buyers
#3 Current pricing strategy is identified by trial-and-error
Transaction Utility
Transaction Utility
Perception Bias
Weber-Fechner Law
Status
Quo Bias
Same mug, two different experiment groups.
Same mug, two different experiment groups.
Selling price vs. buying price.
Participants who “owned” the mug place a greater value on it.
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