Any questions with syllabus?



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Any questions with syllabus?

  • Any questions with syllabus?




Price is the value that customers give up or exchange to obtain a desired product.

  • Price is the value that customers give up or exchange to obtain a desired product.

  • Payment may be in the form of:

    • money,
    • service or goods (bartering),
    • favors,
    • votes,
    • or anything else of value to the other party.
  • Profitability

    • Profit = Total Revenue – Total Costs
    • (Unit Price x Quantity Sold) – Total Costs


Pricing – is about designing the right price for the right customer at the right time and location.

  • Pricing – is about designing the right price for the right customer at the right time and location.

  • Strategies – are systematic plans that takes many relevant factors into consideration.

  • Good pricing strategies are usually…



  • #1 Pricing strategy is based on a solid understanding of the three C’s

  • Cost?

  • Customers?

  • Competition?





  • #3 Current pricing strategy is identified by trial-and-error









Transaction Utility

  • Transaction Utility

  • Perception Bias

  • Weber-Fechner Law

  • Status Quo Bias

































Same mug, two different experiment groups.

  • Same mug, two different experiment groups.

  • Selling price vs. buying price.

  • Participants who “owned” the mug place a greater value on it.









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