MCS 1000 Chapter Notes - Chapter 13: Price Discrimination, Monopolistic Competition, Root Mean Square

• School: University of Guelph
• Department: Marketing and Consumer Studies
• Course: MCS 1000
• Professor: Sergio Meza

Document Summary

Price: the money or other consideration (including other goods and services) exchanged for the ownership or use of a good or service. Barter: practice of exchanging goods and services for other goods and services rather than money. Price as an indicator of value: price is often an indicator of value when compared with the bene ts of the product. Value: the ration of perceived bene ts to price. Pro t = (unit price x quantity sold) - total cost. Price constraints: factors that limit the latitude of price a rm may set. !1: demand for the product class, product and brand, number of buyers for product class, product and brand clearly affects price a seller can. Sunday, october 25, 2015 charge: luxury vs. necessity, newness of product stage in the product life cycle, newer the product the higher the life, single product vs. Product line: ex. when apply launch its ipad it was unique and rst successful tablet!