Pricing Case Study: "Rags to Riches"
This clip profiles a company that makes custom quilts and toys. The owner explains that setting prices has always been a challenge, but notes that positioning her company as a high-end manufacturer of custom products has made the task a bit easier.
Pricing Goals
This clip talks about the importance of establishing pricing goals, noting that pricing shouldn't be determined solely on the basis of costs and desired profit margin, but as part of the overall marketing mix. Competitors' prices should also be take...
Pricing Strategies
This clip explores a number of commonly used pricing strategies, including odd pricing, skimming pricing, follow-the-leader pricing, and penetration pricing.
Pricing and Cost
This clip notes that the total cost of operating a business must be considered before the small business owner makes pricing decisions. The clip also talks about the difference between fixed and variable costs.