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Week 11 Discussion 2

“Sum It Up” Please respond to the following:

  • Write a speech that you would give to a friend in an elevator summing up the contents of this course. You have 30 to 90 seconds. Go!

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Cothran

RE: Week 11 Discussion 2

Let me tell you about this course I just finished. If you currently own or are starting a business, you NEED to know this information. The whole class was over strategic market pricing. We started with tactics on how to introduce pricing for a new product or service. Next, we went on to discuss the value and communicating value to your customers. Then we further researched pricing policies and which to choose when setting a level. Later the course covered financial analysis, which I found to be the most helpful in my business. Competition research proved to be a large part of successful businesses in the next final weeks. Then we learned about the different approaches customers have regarding price sensitivity. And last, but certainly not least we covered laws for pricing and the sad outcomes of businesses partaking in legal, but unethical practices. I know during the pandemic we have all seen the true colors of many businesses. In the future, as business owners, we should honor the research, evaluations, and moral standing of strategic market pricing.

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