Setting Your Price
Students assume that they decide to start a business as a marketing consultant. How much do they need to charge for their consulting services?
EXCLUSIVE MEMBER ACTIVITY
Setting Your Price Review the Teaching Activity
Member Activities
Price Penetration or Price Skimming?
This activity follows the discussion in a manager’s meeting for a firm that produces entertainment/game consoles and they are trying to decide whether to use a price penetration or price skimming strategy in the upcoming launch of their game console.
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Price Penetration or Price Skimming? Review the Teaching Activity
What Price Mark-up is Needed?
In this activity, the student task is to determine what average prices will need to be charged by these small retailers so they end up making a good profit.
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What Price Mark-up is Needed? Review the Teaching Activity
Price Calculations: Marginal Analysis
Students set prices using marginal analysis. This pricing approach looks for the maximum profit point, considering the firm’s cost structure and the likely sales at different price points.
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Price Calculations: Marginal Analysis Review the Teaching Activity
Price Calculation: Target Profit Pricing
Students use target profit pricing to determine how many units we will need to sell to both cover costs AND achieve a set profit.
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Price Calculation: Target Profit Pricing Review the Teaching Activity
Price Calculation: Breakeven Pricing
Work through two examples of using break-even analysis for pricing, to gain a better understanding of this approach.
EXCLUSIVE MEMBER ACTIVITY
Price Calculation: Breakeven Pricing Review the Teaching Activity
Price Calculation: Cost-plus Pricing
The task for this activity is to work through the two examples for cost-plus pricing for students to gain a better understanding of this method.
Price Calculation: Cost-plus Pricing Review the Teaching Activity
Pricing Objectives
Pricing decisions will form a key part of the firm’s overall marketing strategy. In this activity, the task is to identify why the firm has adopted their particular pricing approach.
Pricing Objectives Review the Teaching Activity
Product Management Decisions
Students assume the role of a product manager for frozen pizza. They are faced with several strategic choices for which way to grow the product line and its profits.
Product Management Decisions Review the Teaching Activity
Which Brand Strategy?
For this proposed new snack food product, what is the most appropriate branding strategy? A brand extension, or a multi-brand, and so on.
Which Brand Strategy? Review the Teaching Activity