BUS 1050 1nd Edition Lecture 15Outline of Last Lecture I. CiceroOutline of Current Lecture II. 4 PsIII. Continuing Marketing Strategies Current LectureP246. Fairness Doctrine. Corporate Espionage. Example used in class was collectors looking through personal garbage. L23. Cicero’s views of friendships in business.460 BCE- the SEC, NepotismP247. L25-L55. Use unethical assistance to achieve power productively.Grain House for SalePriceProduct GrainPromotionPlace (Dist) Island of Rhodes - ShipFirst Move Advantage- thesis is that competitors need to have a 5x effort to keep up. First there has the upper advantage. Question comes up for Antipater- Do I tell the natives that there are more grains to come in the next couple of days. P248. L 10. Consider the interest of fellow men and society. One thing to conceal, another to reveal.If he chooses to be loyal and tell, he achieves high productivity. Once competitors return, he may lower prices, and consumers would still go to him for being moral. Build strategy with morality.If vendor sells for more price than reasonably receive, then in transition is unjust or dishonorable. Negotiation is null and void. Tactical StrategiesThese notes represent a detailed interpretation of the professor’s lecture. GradeBuddy is best used as a supplement to your own notes, not as a substitute.Penetration pricing (may result in negative profit but secures market)Skim Pricing (charge highest prices for highest margins)Caveat Emptor- Let the buyer be awareCaveat Vendor- Let the seller be awareCicero- Some people would not do the criminally minded thing. Some people are educated, some are not.Necessities for Marketing Break even point- (BEP) needed to decide to find a price.Strategy for Pricing. MonopsonyIntellectual Property (IP)- Patents(Fixed Costs / Contribution Margin )=BEPSelling Price – Variable Costs (average variable
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