Explore demand curves and price elasticity of demand.Describe key factors that may influence marketers’ pricing decisions.
Module 14 Learning Objectives •Understand the nature and importance of price. •Identify the characteristics of price and nonprice competition. •Explore demand curves and price elasticity of demand. •Examine the relationships among demand, costs, and profits. •Describe key factors that may influence marketers’ pricing decisions. •Consider issues affecting the pricing of products for business markets.