COMM223 Marketing Management Lecture 8 - Pricing-Channel PDF
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Concordia University
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Summary
This document is a lecture on marketing management, specifically focusing on pricing and channels. It includes an agenda for the lecture, as well as an outline of the topics to be covered. A quiz is also mentioned.
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COMM223 Marketing Management Lecture 8 – Pricing, Demand Estimates and Channel Quiz 2 Quiz 2 is in next class Including Chapters 7, 8, 9 and 10 Agenda Pricing – Factors influencing price decision External factors – New produ...
COMM223 Marketing Management Lecture 8 – Pricing, Demand Estimates and Channel Quiz 2 Quiz 2 is in next class Including Chapters 7, 8, 9 and 10 Agenda Pricing – Factors influencing price decision External factors – New product pricing – Product mix pricing – Pricing calculation Demand estimates Place – Why marketing channel – Channel behavior – Channel decision – Channel management Factors to Consider When Setting Price External Factors Types of markets – Nature of market and – Pure competition demand – Monopolistic competition – Economy – Oligopolistic competition – Other environmental – Pure monopoly elements Price-demand relationship – Demand curve – Price elasticity of demand The Price-Demand Relationship Demand curve: a curve that shows the number of units the market will buy at different possible prices in a given time period Price elasticity of demand: – Calculated as the % change in quantity demanded divided by the % change in price; values >1 elastic and
