Ch 7: CMMP Exam: Pricing

About This Chapter

Prior to taking the CMMP Exam, you may find it useful to go over these lessons for important information on the subject of pricing. Each of these topics might be included in questions on the exam itself.

CMMP Exam: Pricing - Chapter Summary

The Certified Marketing Management Professional (CMMP) Exam will include specific questions on the subject of pricing. If you want to study up on this topic, go through the video lessons included in this chapter for comprehensive overviews of specific points related to pricing that you'll need to know. The lessons are divided up into specific subtopics, such as:

  • Pricing objectives
  • Price elasticity
  • Pricing cost
  • The definition, types and examples of pricing strategy
  • Consumer perception
  • Economic factors related to pricing

The lessons and practice quizzes you'll find in this chapter will serve as valuable study tools for the CMMP Exam. The exam will be much less imposing if you let us help you study up on the relevant topics you'll need to know.

6 Lessons in Chapter 7: CMMP Exam: Pricing
Test your knowledge with a 30-question chapter practice test
Pricing Objectives: How Firms Decide on a Pricing Strategy

1. Pricing Objectives: How Firms Decide on a Pricing Strategy

After watching this video, you should understand pricing strategy as it relates to the marketing mix. The three types of pricing strategies are profit-maximization, sales-oriented and status quo.

Price Elasticity: Understanding Supply and Demand

2. Price Elasticity: Understanding Supply and Demand

Marketing managers need to understand the basics of supply and demand in order to develop the precise price for their product. Inelastic and elastic demand explains how sensitive consumers are to price and how much flexibility it allows the marketing team.

Pricing Cost: What Motivates Mark-up and Break-Even Pricing

3. Pricing Cost: What Motivates Mark-up and Break-Even Pricing

The marketing mix consists of the four Ps (product, place, promotion and price). The marketing manager has to decide what type of pricing strategy to use for the overall marketing plan. The options depend on how cost is determined.

Pricing Strategy in Marketing: Definition, Types & Examples

4. Pricing Strategy in Marketing: Definition, Types & Examples

Companies utilize a variety of pricing strategies to market their products to consumers. Throughout this lesson, we will explore some of these strategies and test your knowledge with a short quiz.

Pricing Strategy and Consumer Perception

5. Pricing Strategy and Consumer Perception

Consumers' perceptions of products rely heavily on the pricing strategy that is chosen by the marketing manager. Price will impact not only consumer perception but also profit and speed of product adoption.

Economic Factors of Pricing and Pricing Strategy

6. Economic Factors of Pricing and Pricing Strategy

Economic factors can alter companies' pricing strategies. Prices need to be flexible, especially in response to inflation and recessions. There are numerous strategies that can be employed to combat economic changes and lead to corporate sales and profits.

Chapter Practice Exam
Test your knowledge of this chapter with a 30 question practice chapter exam.
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Practice Final Exam
Test your knowledge of the entire course with a 50 question practice final exam.
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