Wednesday, 11 January 2012

Using the marketing mix - Pricing


WHAT SHOULD TESCO'S DO NEXT...


The news today about Tesco's £500m Price Drop Campaign - Did it work


Remember that the 4 P's of the MARKETING MIX are INTERLINKED

FOR PAPER 2 - WHAT DO I NEED TO KNOW & UNDERSTAND:
  • about pricing decisions for growth 
  • the factors affecting pricing decisions   See pages 161 -164
You will also need to know about the different TYPES of PRICING DECISIONS
  • Price Skimming
  • Penetration Pricing
  • Competitive Pricing
  • Loss leader
  • Cost plus pricing
And the factors that influence the price:
  • Costs
  • Demand
  • Degree of competition
  • Company's objectives and approach to pricing
  • Product life cycle - where is your PRODUCT or SERVICE in it?
  • Rest of the MARKETING MIX

Remember you have:
  1. the core text - 161-164
  2. your online e-resources at http://my.dynamic-learning.co.uk/Default.aspx?cid=15451
  3. www.businessstudiesonline.com  go to activities, GCSE, AQA
TODAYS TASK - Finish below

Using the resources above complete: 
  1. the notetaker pack and TOPIC test here
  2. Now try this worksheet: Pricing decisions for growth here 
  3. Now try this worksheet: Factors effecting pricing here to see how much you have learnt about pricing after today.
  4. Write your proposal to the CEO of TESCO's suggesting what he could do next to keep sales boyant year on year and to show confidence to the market, his shareholders, customers, competition and staff.  Remember consideration of the factors that affect pricing will be key- no more than 250 words

Homework
Controlled Assessment will be the homework for this week and next.  I guess that you will be spending time doing this at the after school club as this is a Controlled piece of work.  Those who do not do this will be flagged up on the homework letter home 

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