The objective of this packet is to introduce the element of pricing as part of the marketing mix. After engaging with this packet students will be able to:
Pricing your offering (product/service bundle) is both an art and a science. There is a great deal of complexity behind the setting of prices involving accounting, economics, and operations management. However, there is also a consumer behavior element to pricing that can influence how well your offering sells in the market.
In this packet you'll engage in the understanding of pricing from a marketing strategy perspective.
Join Soma Jurgensen, Chair of the School of Business for Rasmussen College Brooklyn Park for this video on Pricing Strategy.
Why does this video have so many views? It simplifies the pricing process into two major buckets then does two things: explains the relationship to marketing strategy and gives an example of the impact consumer behavior and attitudes have on pricing.
If you follow through to the website I will say that I don't sanction or agree with the tactics and strategies on the website, however, the blog has some good, general, business advice.
