BUS 1050 1nd Edition Lecture 15 Outline of Last Lecture I Cicero Outline of Current Lecture II 4 Ps III Continuing Marketing Strategies Current Lecture P246 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 Nepotism P247 L25 L55 Use unethical assistance to achieve power productively Grain Price Product Promotion Place Dist House for Sale Grain Island of Rhodes Ship First 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 Strategies These 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 aware Caveat Vendor Let the seller be aware Cicero 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 Monopsony Intellectual Property IP Patents Fixed Costs Contribution Margin BEP Selling Price Variable Costs average variable costs
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