Ethical & Legal Issues Dealing with Pricing
There are a number of legal and ethical issues that marketers must deal with when they are setting prices for their products and services. Here we go through the main ethical issues.
Filmed in Santa Fe, NM
Copyright Mark Wolters 2019
#marketing #ethicalmarketing #principlesofmarketing
Topic 13: Pricing
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Пікірлер: 16
In Sweden and some other EU countries age discrimination when setting prices is forbidden.
Your videos are a great help for my marketing exam professor! 🤓 Thank you so much!
@ProfessorWolters
2 жыл бұрын
Glad I can help
We belong together
Great, concise video. I think I wouldn't have dropped out of my university studies in Business Administration with a professor like Mark. ;) In regard to Price Discrimination: I've encountered this a long time ago in the field of real estate - the so-called "open and local market". Meaning local residents will sometimes get offered lower prices if they are looking for real estate within their area rather than people who are searching for real estate in this area from far away.
@ProfessorWolters
4 жыл бұрын
Sorry you weren't in my class. There are some price discriminations like you mentioned
Seems like the general public associates loss leaders as items that just break even for the business. *_Hard to imagine a company actually losing money selling anything._* Interesting. Milk is the decades old example as a loss leader but I have always thought the grocer simply made a few nickels of profit instead of the standard mark up. Same with gasoline. It's been years but we were always lead to believe that convenience stores make very little selling gas but it gets you to stop in to buy their heavily marked up candy and drinks. A friend who owns a bar says she makes almost nothing on her cheapest draft beer specials but most people who buy a pint of Miller High Life also get shots or order food. 😂👍
@ProfessorWolters
4 жыл бұрын
I would order some wings
"Occasional" price gouging in pharmaceuticals and medicine... )))
@ProfessorWolters
4 жыл бұрын
Occasional... just occasional...
I love you
Is loss leader pricing really a legal issue though? Video game console are notorious loss leaders, selling hardware below cost so they can sell software. And i don't see anyone taking down Sony, Microsoft or Nintendo over it. The fact they sell their hardware below cost is very, very well documented. At the time of hardware release even people know it's happening.
@ProfessorWolters
4 жыл бұрын
Like everything depends on what the government says
I was arrested for illegal price discrimination and am texting from my trap phone in prison
@ProfessorWolters
7 ай бұрын
they get you every time :)
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