✏️ Week 6: Chapters 13 & 14 Takeaways

 

✏️ Week 6: Chapters 13 & 14 Takeaways

Hi everyone! 🌟

This week I read Chapters 13 and 14 of our marketing textbook. These chapters were about pricing — how companies decide what to charge for their products and services.

📖 Chapter 13

Chapter 13 showed me that pricing is very important. Companies don’t just pick any number; they look at:

  • What customers think the product is worth

  • What goals the company has — make a profit, sell more, or compete

  • Discounts and extra fees that change the final price

The chapter also explained that if people really want a product, they will pay more. If they don’t, companies need to lower the price.

💡 My takeaway: Companies must plan carefully and make sure the price matches what customers want and what the company needs.

📖 Chapter 14

Chapter 14 was about finding the final price. Companies can:

  • Start high (price skimming) or low (penetration pricing)

  • Offer discounts or special promotions

  • Follow laws to make sure prices are fair

💡 My takeaway: Setting the final price isn’t easy. Companies need to use different strategies and follow the law. This way, customers feel they get a good deal and the company can make a profit.

💭 In short:

Pricing is more than just a number — it’s a smart process. Companies have to look at customers, competition, and the law to set the best price.

Have you ever thought about why some products cost more or less? Let me know your thoughts in the comments! 💬✨

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