Marketing Management Reflection and Discussion Forum
Reflection and Discussion Forum Week 9
Reflection and Discussion Forum Week 9Assigned Readings: Chapter 9. Pricing. Initial Postings: Read and reflect on the assigned readings for the week. Then post what you thought was the most important concept(s), method(s), term(s), and/or any other thing that you felt was worthy of your understanding in each assigned textbook chapter. Your initial post should be based upon the assigned reading for the week, so the textbook should be a source listed in your reference section and cited within the body of the text. Other sources are not required but feel free to use them if they aid in your discussion. Also, provide a graduate-level response to each of the following questions:
Lawyers are changing their pay structures. It used to be that they would bill hourly (top dollar for top lawyers, less experienced helpers had cheaper rates). Now they’re beginning to price like consultants—per project. Thus they must begin assessing the value-added to the client firm of the legal expertise and assistance. What advice would you give a law firm to proceed fairly and profitably?
What are the kinds of purchases for which you’ll “spare no expense”? What kinds of purchases do you want to buy spending as little as possible? What are the major differences between these two categories that drive your attitude regarding price?
This activity/assignment will help students understand pricing strategies. Activity: Recall the product life cycle as discussed in Chapter 8 and discuss the pricing strategies followed in each phase of the life cycle. The assignment is to answer the question provided above in essay form. This is to be in narrative form and should be as thorough as possible.