Principles of Marketing Pricing Strategy

Unit 1: Defining the Role of Pricing

• Identify the role pricing plays in the marketing mix.
• Identify the objectives your pricing strategy might achieve.
• Identify the appropriate life cycle stage and pricing strategy for a given product.
• Select the legal constraints that can affect your pricing decisions.
• Simulation Overview:
• In this simulation, you will meet with Bruce Madison and Elizabeth Williams to brainstorm about next year's pricing strategies for two video camera products. The purpose of the meeting is to develop initial recommendations to present to the Vice President of Marketing, Brian Smith. You will need to use your knowledge of pricing strategies and objectives to create recommendations.

Unit 2: Determining Price

• Choose the options to establish different prices for different buyers.
• Utilize pricing policies to create a flexible pricing system.
• Identify pricing strategies.
• Select

• Identify the objectives your pricing strategy might achieve.
• Apply the correct terminology when developing a pricing strategy.
• Choose options to establish different prices for different buyers.
• Identify pricing strategies.
• Sequence the steps of the pricing process.
• Apply the appropriate steps of the pricing process.