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Chapter 1011

Chapter 1011

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Published by azwan ayop

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Categories:Types, Business/Law
Published by: azwan ayop on May 12, 2010
Copyright:Attribution Non-commercial

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04/08/2013

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Pricing Products:Understanding and Capturing Customer ValuePricing Products:Pricing Strategies
10 AND 1110 AND 11
 
Learning Objectives
After studying this chapter, you should be ableto:
1.Answer the question “What is price?” and discussthe importance of pricing in today’s fast-changingenvironment2.Discuss the importance of understanding customer value perceptions when setting prices3.Discuss the importance of company and productcosts in setting prices4.Identify and define the other important internal andexternal factors affecting a firm’s pricing decisions
10-2
 
What Is Price?
Price
is the
amount of money charged 
for aproduct or service. It is the
sum of all thevalues
that
consumers give up
in order togain the benefits of having or using aproduct or service.
Price
is the only element in the marketing mixthat produces
revenue
; all other elementsrepresent costs
10-4

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