{"id":1915,"date":"2021-11-15T00:01:00","date_gmt":"2021-11-15T05:01:00","guid":{"rendered":"https:\/\/openlab.bmcc.cuny.edu\/mar-100-1900-intro-to-marketing-professor-buckler-fall-2021\/?page_id=1915"},"modified":"2022-05-22T14:15:07","modified_gmt":"2022-05-22T18:15:07","slug":"unit-10-course-materials","status":"publish","type":"page","link":"https:\/\/openlab.bmcc.cuny.edu\/mar-100-1900-intro-to-marketing-professor-buckler-fall-2021\/course-materials\/unit-10-course-materials\/","title":{"rendered":"Unit 10 Course Materials"},"content":{"rendered":"\n<p>Unit 10 focuses on another &#8220;P&#8221; in the 4 P&#8217;s of marketing: <strong>Price<\/strong>! Pricing is extremely important to businesses: if your prices are too high, customers might choose a competitor. If your prices are too low, you might not make enough money to continue operating in the way the business needs to to sustain operations and \/ or to grow and expand. There is a lot of strategy involved in pricing, and marketers need to be well-informed about conditions in the market in order to appropriately price a good or service.<\/p>\n\n\n\n<p><strong>By the end of this unit, you should be able to:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Discuss how price affects the value of the organization\u2019s products or services<\/li><li>Explain the primary factors to consider in pricing<\/li><li>Compare common&nbsp;pricing strategies<\/li><li>Explain price elasticity and how it can be used to set price<\/li><li>Explain the use of competitive bidding for B2B&nbsp;pricing<\/li><\/ul>\n\n\n\n<p><strong>In order to successfully complete this unit, you\u2019ll need to do the following:<\/strong><\/p>\n\n\n\n<p>1. Read this Open Educational Resource (free to access):<a href=\"https:\/\/courses.lumenlearning.com\/waymakerintromarketingxmasterfall2016\/part\/module-pricing-strategies\/\" target=\"_blank\" rel=\"noopener\">&nbsp;<strong>Module 11: Pricing Strategies<\/strong><\/a><sup>1<\/sup><br><em>Please note: you do not need to complete the activities listed in this resource.<\/em><\/p>\n\n\n\n<p>2. Watch\u00a0<a rel=\"noopener\" href=\"https:\/\/www.youtube.com\/watch?v=koC0kcKL9YQ\" target=\"_blank\"><strong>this YouTube video<\/strong><\/a><sup>2<\/sup> (embedded below) created by Professor Waltors about Price:<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe loading=\"lazy\" title=\"The 4Ps of Marketing: Price: It Captures the Value\" width=\"625\" height=\"352\" src=\"https:\/\/www.youtube.com\/embed\/koC0kcKL9YQ?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n\n\n\n<p>3. Complete our\u00a0<strong>Unit 10 Assignment<\/strong>. You can find more information\u00a0<a href=\"https:\/\/openlab.bmcc.cuny.edu\/mar-100-1900-intro-to-marketing-professor-buckler-fall-2021\/assignments\/unit-10-assignment\/\" data-type=\"page\" data-id=\"1122\"><strong>here<\/strong><\/a>.<\/p>\n\n\n\n<hr class=\"wp-block-separator\" \/>\n\n\n\n<p>As always, if you need more information, you can\u00a0<strong>ask me a question<\/strong>. For information on due dates, check our\u00a0<a href=\"https:\/\/openlab.bmcc.cuny.edu\/mar-100-1900-intro-to-marketing-professor-buckler-fall-2021\/about-this-class\/schedule\/\" data-type=\"page\" data-id=\"20\"><strong>Course Schedule<\/strong><\/a>.<\/p>\n\n\n\n<hr class=\"wp-block-separator\" \/>\n\n\n\n<p><strong>Sources:<\/strong><\/p>\n\n\n\n<p><sup>1<\/sup>CC LICENSED CONTENT, ORIGINAL<br>Why It Matters: Pricing Strategies.\u00a0<strong>Provided by<\/strong>: Lumen Learning.\u00a0<strong>License<\/strong>:\u00a0<em><a rel=\"noreferrer noopener\" target=\"_blank\" href=\"https:\/\/creativecommons.org\/licenses\/by\/4.0\/\">CC BY: Attribution<\/a><\/em><\/p>\n\n\n\n<p><sup>2<\/sup><a href=\"https:\/\/www.youtube.com\/c\/ProfessorWolters\"><strong>Professor Wolters<\/strong><\/a> on YouTube: <strong><em>The 4Ps of Marketing: Price: It Captures the Value<\/em><\/strong><br>https:\/\/www.youtube.com\/watch?v=koC0kcKL9YQ<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Unit 10 focuses on another &#8220;P&#8221; in the 4 P&#8217;s of marketing: Price! Pricing is extremely important to businesses: if your prices are too high, customers might choose a competitor. If your prices are too low, you might not make enough money to continue operating in the way the business needs to to sustain operations [&hellip;]<\/p>\n","protected":false},"author":1403,"featured_media":0,"parent":101,"menu_order":10,"comment_status":"closed","ping_status":"closed","template":"","meta":{"portfolio_post_id":0,"portfolio_citation":"","portfolio_annotation":"","openlab_post_visibility":"","footnotes":""},"class_list":["post-1915","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/openlab.bmcc.cuny.edu\/mar-100-1900-intro-to-marketing-professor-buckler-fall-2021\/wp-json\/wp\/v2\/pages\/1915","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/openlab.bmcc.cuny.edu\/mar-100-1900-intro-to-marketing-professor-buckler-fall-2021\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/openlab.bmcc.cuny.edu\/mar-100-1900-intro-to-marketing-professor-buckler-fall-2021\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/openlab.bmcc.cuny.edu\/mar-100-1900-intro-to-marketing-professor-buckler-fall-2021\/wp-json\/wp\/v2\/users\/1403"}],"replies":[{"embeddable":true,"href":"https:\/\/openlab.bmcc.cuny.edu\/mar-100-1900-intro-to-marketing-professor-buckler-fall-2021\/wp-json\/wp\/v2\/comments?post=1915"}],"version-history":[{"count":2,"href":"https:\/\/openlab.bmcc.cuny.edu\/mar-100-1900-intro-to-marketing-professor-buckler-fall-2021\/wp-json\/wp\/v2\/pages\/1915\/revisions"}],"predecessor-version":[{"id":2631,"href":"https:\/\/openlab.bmcc.cuny.edu\/mar-100-1900-intro-to-marketing-professor-buckler-fall-2021\/wp-json\/wp\/v2\/pages\/1915\/revisions\/2631"}],"up":[{"embeddable":true,"href":"https:\/\/openlab.bmcc.cuny.edu\/mar-100-1900-intro-to-marketing-professor-buckler-fall-2021\/wp-json\/wp\/v2\/pages\/101"}],"wp:attachment":[{"href":"https:\/\/openlab.bmcc.cuny.edu\/mar-100-1900-intro-to-marketing-professor-buckler-fall-2021\/wp-json\/wp\/v2\/media?parent=1915"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}