April 2019
Beginner to intermediate
880 pages
27h 3m
English
Questions answered in this chapter:
What do I need to know to price a product?
What is the meaning of elasticity of demand?
Is there any easy way to estimate a demand curve?
What does a demand curve tell us about a customer’s willingness to pay for our product?
Every business must determine a price for each of its products. Pricing a product properly is difficult. In Chapter 88, “Pricing products by using tie-ins,” and Chapter 89, “Pricing products by using subjectively determined demand,” I’ll describe some simple models that might aid you in pricing a product to maximize profitability. For further insights into pricing, refer to the excellent book Power Pricing, by Robert J. Dolan and Hermann Simon (Free ...
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