Q Week 7. Pricing & Pricing Strategies & Marketing Channels Chapters 10, 11, 12 Chapter Preview: In the next two chapters we look at a major marketing mix tool-pricing. Firms successful at creating customer value in the prices they earn. Takeaways: Answer the question ''What is a Price?'' and discuss the importance of pricing in today's fast changing environment. Describe the major strategies for pricing new products. Read in the Textbook. Chapter 10, Understanding Pricing. Chapter 11, Pricing Strategies. Chapter 12, Marketing Channels. Assignment: One (1) page: Discuss your perceptions of value and how much you are willing to pay for the following products: Craft beer, Red Bull, frozen dinners, athletic shoes. Discuss some examples of brands of these products that are positioned to deliver different value to consumers. Assignment: (case): One (1) page: You are the owner of a small independent chain of coffee houses competing with Starbucks. The retail price your customers pay for coffee is exactly the same as Starbucks. The price you pay for roasted coffee beans has increased by 25 percent. You know that you cannot absorb this increase and that you must pass it on to your customers. However you are concerned about the consequences of a price increase. Discuss three price increase strategies that address this concern. Assignments Due: Tuesday, 4/11@ 11:59pm. Assignments will not be accepted after due date.