INTRODUCTORY MARKETING Pricing M. Louise Ripley, MBA, PhD PRICING LECTURE Questions We Will Answer How is pricing part of Marketing Strategy? How is pricing affected by Cost, Demand, Competition? How do you set a price? KEY FACTORS IN PRICING Objectives Strategies Policies and Constraints Tactics PRICING OBJECTIVES Cost Demand Competition PRICING OBJECTIVES COST ORIENTED Emphasis - Cost/Profit Target Return Satisfactory Return