Marketing Essentials

Chapter 25: Price Planning

Figures Online Action

Figure 25.1

Negotiating Price
Imagine that you own a house that you wish to rent out. You are asking $700 per month in rent. After two months with no offers, a family calls you wanting to rent the house, but they can only afford $600 per month.

Activity
Answer the following questions and explain your answers: Is it worth it to lower the price? At what point would it become worthwhile to accept a lower price?

Figure 25.2

Fluctuating Demand
Using newspapers, magazines, and the Internet, find one example of a product whose demand has escalated in recent years and one example of a product that has dipped in demand after an initial rise.

Activity
Write a short report that details your findinds.