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Lecture Marketing (12/e): Chapter 13 – Kerin, Hartley, Rudelius

Chapter 13 – Building the price foundation. After reading chapter 13, you should be able to: Identify the elements that make up a price, recognize the objectives a firm has in setting prices and the constraints that restrict the range of prices a firm can charge, explain what a demand curve is and the roles of revenues in pricing decisions,. | Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. LO 13-3 LO 13-2 LEARNING OBJECTIVES (LO) AFTER READING CHAPTER 13, YOU SHOULD BE ABLE TO: LO 13-1 Identify the elements that make up a price. Recognize the objectives a firm has in setting prices and the constraints that restrict the range of prices a firm can charge. Explain what a demand curve is and the roles of revenues in pricing decisions. 13- LO 13-6 LEARNING OBJECTIVES (LO) AFTER READING CHAPTER 13, YOU SHOULD BE ABLE TO: LO 13-5 Explain the role of costs in pricing decisions. Describe how various combinations of price, fixed cost, and unit variable cost affect a firm’s break-even point. Describe what price elasticity of demand means to a manager facing a pricing decision. LO 13-4 13- MOTHER “WAS NOT THRILLED”: THE LAUNCH OF STUBHUB.COM! Plan for the Start-up How StubHub’s Pricing Works Now 13- NATURE AND . | Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. LO 13-3 LO 13-2 LEARNING OBJECTIVES (LO) AFTER READING CHAPTER 13, YOU SHOULD BE ABLE TO: LO 13-1 Identify the elements that make up a price. Recognize the objectives a firm has in setting prices and the constraints that restrict the range of prices a firm can charge. Explain what a demand curve is and the roles of revenues in pricing decisions. 13- LO 13-6 LEARNING OBJECTIVES (LO) AFTER READING CHAPTER 13, YOU SHOULD BE ABLE TO: LO 13-5 Explain the role of costs in pricing decisions. Describe how various combinations of price, fixed cost, and unit variable cost affect a firm’s break-even point. Describe what price elasticity of demand means to a manager facing a pricing decision. LO 13-4 13- MOTHER “WAS NOT THRILLED”: THE LAUNCH OF STUBHUB.COM! Plan for the Start-up How StubHub’s Pricing Works Now 13- NATURE AND IMPORTANCE OF PRICE WHAT IS A PRICE? LO 13-1 Price Barter Price Equation Calculating a Final Price 13- FIGURE 13-1 The “price” a buyer pays can take different names depending on what is purchased 13- NATURE AND IMPORTANCE OF PRICE LO 13-1 Price and the Global Marketplace Price Transparency 13- MARKETING MATTERS Dollar Shave Club: Razor Blade Cartridges Every Month by Mail LO 13-1 13- NATURE AND IMPORTANCE OF PRICE PRICE AS AN INDICATOR OF VALUE LO 13-1 Value Value-Pricing = $ $ 13- NATURE AND IMPORTANCE OF PRICE PRICE AS AN INDICATOR OF VALUE LO 13-1 Decoding Today’s Consumer Prices “77 & 7” BOGO (Buy One Get One) Deal 13- NATURE AND IMPORTANCE OF PRICE PRICE AS AN INDICATOR OF VALUE LO 13-1 Decoding Today’s Consumer Prices Q1: Which represents the biggest savings in total dollars? a. A markdown from $85.27 to $70.66 b. A markdown from $83.99 to $69.99 c. A markdown from $80.00 to $70.00 BOGO (Buy One, Get One Free) 13- NATURE AND IMPORTANCE OF PRICE PRICE AS AN .