• Standard 6:  Pricing

    Knowledge

    Targets

     

    “What I need to know!”

    I know the definition of the following terms:

     

    *      Break-even point

    *      Geographical pricing

    *      Product Mix Pricing Strategies

    *      International pricing

    o          Price lining

    *      Psychological Pricing Strategies

    o          Optional Product

    o          Odd-even pricing

    o          Captive product

    o          Prestige pricing

    o          By-product pricing

    o          Multiple-unit pricing

    *      Segmented Pricing Strategies

    o  Everyday low prices

    o          Buyer identification

    *      Promotional pricing Strategies

    o          Product design

    o           Loss leader pricing

    o          Purchase location

    o           Special-event pricing

    o          Time of purchase

    o           Rebate coupon

    *      Discount and Allowances

     

    o          Cash discounts

     

    o          Quantity discounts

     

    o          Seasonal discounts

     

    o          Allowances

     

    Reasoning

    Targets

     

    “What I can do with what I know.”

    *      Describe pricing strategies

    *      Evaluate pricing decisions

    Skills

    Targets

     

    “What I can demonstrate.”

    *      Maintain financial records

    *      Prepare cash flow statements

    *      Prepare cash drawers/banks

    *      Open/Close register terminal

    Product

    Targets

     

    “What I can make to show my learning.”

    *      I can prove adherence to the performance indicators within the financial analysis through documentation of work in the SBE. 

    *      I can explain breakeven point, ROI and markup for a specific product within the store.

    *      Develop seasonal pricing strategies

    Common Core Standards

    ENGLISH:  RESEARCH TO BUILD AND PRESENT KNOWLEDGE

    *      Use technology, including the Internet, to produce and publish writing and to interact and collaborate with others.

    *      Conduct short as well as more sustained research projects based on focused questions demonstrating understanding of the subject under investigation

    *      Gather relevant information from multiple print and digital sources, access the credibility and accuracy of each source, and integrate the information while avoiding plagiarism.

    Vocabulary Acquisition and Use

    *      Determine or clarify the meaning of unknown and multiple-meaning words and phrases by using context clues, analyzing meaningful word parts, and consulting general and specialized reference materials, as appropriate.

    *      Acquire and use accurately a range of general academic and domain-specific words and phrases sufficient for reading, writing, speaking, and listening at the college and career readiness level; demonstrate independence in gathering vocabulary knowledge when considering a word or phrase important to comprehension or expression.