Unit 9: Pricing

Students will understand concepts and strategies utilized in determining and adjusting prices to profit and meet customers’ perceptions of value.

Understand how businesses make pricing decisions. Discuss how businesses use pricing strategies to attract customers. (Strategies
may include: odd/even pricing, loss leaders, prestige pricing, penetration pricing, price bundling, price lining, and Everyday low pricing.)

1. Assess workplace conditions with regard to safety and health and OSHA guidelines.

2. Identify goals for pricing: profit, market share and competition.

3. Identify factors affecting a business’s price: supply and demand, perceived value, costs & expenses (profit margin), competition.

4. Explain the economic principle of break-even point.