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pricing the product - Coggle Diagram
pricing the product
2.estimade demand
law of demand
prestige demand
shifts in demand
estimating demand
estimates of potential sales
price elasticity of demand
substitute
complements
1.develop sales or market share objectives
profit objectives
sales or market share objectives
competitive effect objectives
customer satisfaction objectives
image enhancement objectives
prestige products
5.choose a price strategy
based on cost
based on demand
based on competition
based on customer needs
new product pricing
3.determine costs
variable costs
fixed costs
break-event analysis
marginal analysis
6.develop pricing tactics
pricing for individual products
pricing for multiple products
distribution based pricing
discounting for channel members
4.evaluate the pricing enviroment
economy
recession
inflation
competition
price wars
industry structures
consumer trends