Lesson 24: Pricing Strategies
Duration of Days: 2
Lesson Objective
Students will analyze how different pricing strategies affect consumer perception, market position, and overall business profitability
What are the main types of pricing strategies used by businesses?
How does pricing affect consumer perception and behavior?
What impact does pricing have on a business’s market position and profitability?
What are some examples of psychological pricing techniques, and how do they affect consumer behavior?
price, price gouging, unit pricing, price skimming, penetration pricing, psychology pricing, discount pricing, mark up, mark down, break even point
HS.CTE.1D - 1D. Communicate effectively using course content.
POG:
I am a LEARNER: Master fundamental skills in core subject areas
I am a THINKER: Critical thinking, independent thinking
Evidence-based reading and writing sections that require analyzing arguments and identifying logical flaws.
SAT Math sections that require logical reasoning and the ability to solve complex problem
Purpose: Provide students with a comprehensive understanding of how pricing decisions are made and their impact on business success. This lesson aims to equip students with the knowledge and skills necessary to develop and implement effective pricing strategies.
DOK 1:
Define the term "pricing strategy" and list three common types.
Recall what a corporation is and how it differs from other business types
DOK 2:
Summarize the role of market research in forming effective pricing strategies.
DOK 4
Analyze a recent advertising campaign and critique its pricing strategy
Choosing the correct business pricing is a vital decision for a businesses success.
Students might believe that all types of pricing strategies are essentially the same and that the differences between them are negligible.
Modeling, one on one instruction, Google classroom or Moodle. Online instructional tools, videos, real world application of information, textbook, online or paper assignments, Spanish version available for ELL students
Guided Notes, worksheet, Price analysis worksheet
Entrepreneurship, 6th edition, online/paper edition. Online working papers (MindTap), class notes, Do Now, Exit Tickets,