In this activity, students consider the tactic of shrinkflation as a suitable and ethical approach to managing price increases. A short news video helps provide several good examples.
Is Shrinkflation a Good Approach to Pricing? Review the Teaching Activity
In this very simple and fun exercise, students have to choose between two identical products – but one has the advantage of a very strong brand versus an unknown brand – will your students pay more just for the brand and why?
Will You Pay More Just for the Brand? Review the Teaching Activity
A local coffee shop has conducted a pricing experiment and broadened their product line. But did the experiment work? And should they continue with the pricing approach or discontinue it? A great activity for assessing marketing mix changes.
Coffee Shop Pricing Market Test Review the Teaching Activity
In this activity, students are presented with basic costs and a demand curve for the local pizza shop and they are asked to calculate the best price point to maximize profits. Note: will require students to have basic spreadsheet access and skills.
Setting the Right Price (Spreadsheet Exercise) Review the Teaching Activity
This activity introduces students to the concept of marketing models and how to set goals and targets to achieve top-level goals like sales revenue and profit.
EXCLUSIVE ACTIVITY FOR MEMBERS
What Should Be Our Marketing Target? Review the Teaching Activity
Firms will utilize price adjustments (and discounts) in order to target particular consumers, or to adapt to particular situations. In this activity, students identify examples and how to effectively use price adjustments.
EXCLUSIVE MEMBER ACTIVITY
Using Pricing Adjustments Review the Teaching Activity
In this activity, students assess how their perception of value – for the exact same product – changes in different situations and environments.
Value Pricing: Will You Pay More? Review the Teaching Activity
This activity is a fun activity (a team-based game) that is designed to show how the short-run average cost curve is produced.
Average Cost Curves Game Review the Teaching Activity
When referring to price, different industries/firms will use different jargon. In this activity, students match the industry to the pricing jargon that they use.
Different Pricing Terms Review the Teaching Activity
In this activity, consumers visit a well-known store to buy some furniture, but the salesperson operates in their own interests, rather than meeting the needs of the customer. The dilemma here is the trade-off between long-term sales and brand management and short-term profitability. What is the best approach?
EXCLUSIVE ACTIVITY FOR MEMBERS
Protect the Brand or Grow the Profit? Review the Teaching Activity