Intro to Business › Section K · Products and pricing › Topic K.9
Pricing strategies and trends
Price is the only part of the marketing mix that brings money in. Set it too high and buyers walk away; too low and the firm can sell plenty yet still lose money.
In this topic
- What a price is
- Pricing objectives
- Cost-based pricing and markup
- Worked example: a markup
- Will the price cover the costs?
- Demand and price elasticity
- Worked example: should Glimmer cut its price?
- Pricing new products
- Pricing tactics
- Trends: data, algorithms and fairness
- Common mistakes to avoid
- Key takeaways
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