BUSSPP 0020 Chapter Notes - Chapter 5: Virgin Atlantic, Monopolistic Competition, Perfect Competition
27 Nov 2017
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How much should we charge for next year"s mba tuition? : some ideas, set tuition to match that of similar schools , determine our costs. Set tuition to at least cover these plus a predictable profit : push it as high as we can. If we have too few takers, then we have charged too much and need to adjust down : the real issue is tuition stability. Set it so we don"t have to change it every year : price affects demand. In our last set of notes, we asked: would anyone buy a blue tomato? : a. This silly question allowed us to develop a number of important ideas: 1. An introduction to marketing and the marketing concept: 2. Basics about products (product lines, mix, refinement, extension, etc. : 3. The relationship between product differentiation, market segmentation, and various forms of competition: 4. First movers, second movers, and the relative pros and cons of each: 6.
