ILO:
Price
● pricing strategies
● influences on pricing strategies: technology, competition, market segments, product life cycle.
Price
● pricing strategies
● influences on pricing strategies: technology, competition, market segments, product life cycle.
Starter
“Three friends decide to split the bill after a meal at a restaurant. The waiter says the bill is £30, so each guest pays £10. “Later the waiter realises the bill should only be £25. To rectify this, he takes £5 from the amount to return to the group.
“On the way to the table, the waiter realises that he cannot divide the money equally. As the customers didn't know the total of the revised bill, the waiter decides to just give each of the three friends £1 and keep £2 for himself.
“Each guest got £1 back: so now each guest only paid £9; bringing the total paid to £27. The waiter has £2. And £27 + £2 = £29 so, if the guests originally handed over £30, what happened to the remaining £1?”
solution
“On the way to the table, the waiter realises that he cannot divide the money equally. As the customers didn't know the total of the revised bill, the waiter decides to just give each of the three friends £1 and keep £2 for himself.
“Each guest got £1 back: so now each guest only paid £9; bringing the total paid to £27. The waiter has £2. And £27 + £2 = £29 so, if the guests originally handed over £30, what happened to the remaining £1?”
solution
Pricing Strategies
Consider the following info-graphic. What are the factors which influence the pricing strategy of the different businesses - "Race to a million".
How does the following two brands approach pricing? Why can they both be successful with such different approaches?
The importance of pricing strategy - What's eating the pound shops?
How does the following two brands approach pricing? Why can they both be successful with such different approaches?
The importance of pricing strategy - What's eating the pound shops?
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Rolex: Where $50,000 Watches Really Come From
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Primark Corporate Video
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Influences: Market SegmentsWhat is the difference between a mass market and a niche market?
How will the characteristics of these markets influence pricing? How have the smaller discount super markets been able to take market share? 
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Top 10 Most Expensive Smartphones In The World (start 4 min 50 sec)
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Influences: TechnologyWhat has been the influence of the internet on prices overall? Explain your answer
How has the internet influenced how you shop? Has the internet influenced the pricing of all G/S the same? Why? How has the internet also provided access to niche markets too? https://www.vinyltap.co.uk/ |
Price comparison websites - are you being misled?
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