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© 1997 South-Western College Publishing LHM Slides Created and Designed by Apple Mountain Software, Inc. Marketing Charles W. Lamb, Jr. Joseph F. Hair, Jr. Carl McDaniel Chapter 20: Pricing Concepts Chapter 20: Pricing Concepts
© 1997 South-Western College Publishing LHM The Importance of Price Comparisons with New Products Price Concerns of Marketing Managers Price Concerns of Marketing Managers Comparisons Against Private Label and Generic Brands Consumer Price Sensitivity Market Share Pressures on Price
© 1997 South-Western College Publishing LHM Pricing Objectives Price- Oriented Sales- Oriented Status Quo
© 1997 South-Western College Publishing LHM The Demand Determinant of Price D D Quantity Price ($)
© 1997 South-Western College Publishing LHM Elasticity of Demand D D Quantity Price ($) D D Quantity Price ($) Elastic Demand Inelastic Demand
© 1997 South-Western College Publishing LHM Cost Determinants of Price Dollars Quantity MC ATC AVC AFC
© 1997 South-Western College Publishing LHM Break-Even Analysis Quantity (units) Price ($) Fixed Costs Total Revenue Total Costs Profits Losses Break Even
Revenue and Profit Revenue and Profit. Revenue Defining total, average and marginal revenue –TR = P × Q –AR = TR / Q –MR = TR / Q Revenue curves when.
Chapter pricing concepts for establishing value thirteen Copyright © 2013 by The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin.
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PowerPoint Slides by Robert F. BrookerCopyright (c) 2001 by Harcourt, Inc. All rights reserved. Pricing of Multiple Products Products with Interrelated.
Copyright 2008 The McGraw-Hill Companies 21-1 Four Market Models Pure Competition Profit Maximization in the Short-Run Marginal Cost and Short-Run Supply.
McGraw-Hill/Irwin Copyright © 2009 by The McGraw-Hill Companies, Inc. All rights reserved. Pure Monopoly Chapter 10.
Production and Inventory Management Chapter 11. Why It Is Important to Understand the Cost Relationships in Production and Inventory Management They affect.
Production and Inventory Management. Understand Cost Relationships Economic efficiency (profits) Understanding of relationships helps managers Effective.
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Pricing Pricing Objectives Pricing Methods Pricing Strategies.
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BREAK-EVEN ANALYSIS COMPANY "A" PLANS TO SALE UNITS FOR $100 VARIABLE COST: 1.Employee Wages $8 per Hour (4 hours per unit) 2.Supplies $1 per Unit 3.Other.
Demand Shifts. Law of Demand Demand Curves shift when quantity demanded changes –Causes Income –Normal good –Inferior good Consumer expectations.
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COST-VOLUME-PROFIT RELATIONSHIPS Chapter 4 PowerPoint Authors: Susan Coomer Galbreath, Ph.D., CPA Charles W. Caldwell, D.B.A., CMA Jon A. Booker, Ph.D.,
Copyright 2008 The McGraw-Hill Companies 22-1 Characteristics Barriers to Entry Monopoly Demand Price and Marginal Revenue Marginal Revenue and Costs Profit.
Perfect Competition 14 Perfect Competition Theres no resting place for an enterprise in a competitive economy. Alfred P. Sloan CHAPTER 14 Copyright © 2010.
Elements of the Promotion Mix Advertising Ingredients of the Promotion Mix Ingredients of the Promotion Mix Public Relations Personal Selling Sales Promotion.
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3 SUPPLY AND DEMAND II: MARKETS AND WELFARE. Copyright © 2010 Cengage Learning 7 Consumers, Producers, and the Efficiency of Markets.
Production and Cost Analysis: Part I Chapter 9. Introduction In the supply process, households first offer the factors of production they control to the.
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QuantityPriceTRMR 0$ Calculate TR and Marginal Revenue 1.
Part 6 Perfect Competition Many markets are characterized by competitive conditions Theory of competitive markets is based on a model of “perfect competition”
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