Ch 18: Pricing Strategy in Marketing: Help and Review

About This Chapter

The Pricing Strategy in Marketing chapter of this Intro to Business Help and Review course is the simplest way to master pricing strategy in marketing. This chapter uses simple and fun videos that are about five minutes long, plus lesson quizzes and a chapter exam to ensure students learn the essentials of pricing strategy in marketing.

Who's it for?

Anyone who needs help learning or mastering introductory business material will benefit from taking this course. There is no faster or easier way to learn introductory business. Among those who would benefit are:

  • Students who have fallen behind in understanding the selling process or pricing strategy in marketing
  • Students who struggle with learning disabilities or learning differences, including autism and ADHD
  • Students who prefer multiple ways of learning business (visual or auditory)
  • Students who have missed class time and need to catch up
  • Students who need an efficient way to learn about pricing strategy in marketing
  • Students who struggle to understand their teachers
  • Students who attend schools without extra business learning resources

How it works:

  • Find videos in our course that cover what you need to learn or review.
  • Press play and watch the video lesson.
  • Refer to the video transcripts to reinforce your learning.
  • Test your understanding of each lesson with short quizzes.
  • Verify you're ready by completing the pricing strategy in marketing chapter exam.

Why it works:

  • Study Efficiently: Skip what you know, review what you don't.
  • Retain What You Learn: Engaging animations and real-life examples make topics easy to grasp.
  • Be Ready on Test Day: Use the pricing strategy in marketing chapter exam to be prepared.
  • Get Extra Support: Ask our subject-matter experts any pricing strategy question. They're here to help!
  • Study With Flexibility: Watch videos on any web-ready device.

Students will review:

This chapter helps students review the concepts in a pricing strategy unit of a standard introductory business course. Topics covered include:

  • The steps of the selling process
  • Different pricing philosophies
  • Price elasticity
  • Markup and break-even pricing
  • Economic factors of pricing and pricing strategy

6 Lessons in Chapter 18: Pricing Strategy in Marketing: Help and Review
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.

Relationship Selling vs. Traditional Methods: Definition and Purpose

2. Relationship Selling vs. Traditional Methods: Definition and Purpose

Promoting is an important method of communicating the benefits of a product or service. The traditional way of selling does not take into account developing a long-term relationship with customers and is more concerned with just making a sale. The proper way of selling in a marketing environment is relationship selling. This is concerned with solving customer product needs and delivering long-term customer service.

Personal Selling: The Steps of the Selling Process

3. Personal Selling: The Steps of the Selling Process

This lesson introduces you to the concept of personal selling. You will learn about the steps in the personal selling process, including how to close a deal.

Price Elasticity: Understanding Supply and Demand

4. 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

5. 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.

How Prices Can Be Adjusted in Response to Environmental Factors

6. How Prices Can Be Adjusted in Response to Environmental Factors

Marketers have the ability to fine-tune the base price of products in the marketing mix. They can use discounts, rebates, and allowances to temporarily change the price to increase sales and profits.

Chapter Practice Exam
Test your knowledge of this chapter with a 30 question practice chapter exam.
Not Taken
Practice Final Exam
Test your knowledge of the entire course with a 50 question practice final exam.
Not Taken

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Other Chapters

Other chapters within the Intro to Business: Help and Review course

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