I need to make a brief paper that is about real-life marketing examples. please include an ad, an article, or an account of a personal experience and that includes an explanation as to how it specifically and directly relates to class content being discussed at the time and the proper use of course terms. One example is sufficient.

please include references!

Class content being discussed and course terms are below:

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Price:

The amount of money charged for a product or service, or the sum of the values that customers exchange for the benefits of having or using the product or service

Pricing determines a firm's market share and profitability

Produces revenue

Three Overall Pricing Strategies:

1.Value Based

2.Cost Based

3.Competition Based

Value Based Pricing :

based on buyers' perceptions of value rather than on the seller's cost

price is considered before the marketing program is set.

Types of value-based pricing:

good-value pricing

value-added pricing

Cost Based Pricing:

based on the costs of producing, distributing, and selling the product plus a fair rate of return for effort and risk

types of costs:

Fixed costs (overhead)

uVariable costs

uTotal costs

Cost Plus:

Adding a standard mark up to the cost of the product

Break-even Pricing:

setting the price to break even on the costs of making and marketing a product, or setting price to make a target in return

Competition Based Pricing:

setting prices based on competitors' strategies, costs, prices, and market offerings

company should ask several questions to assess competitors' pricing strategies:

how does the company's market offering compare in terms of customer value?

how strong are current competitors?

what are their current pricing strategies?

Considerations Affecting Pricing Decisions :

internal factors

overall marketing strategy, objectives, and mix

organizational considerations

external factors

market and demand

economy

impact on other parties in its environment

Target : costing starts with an ideal selling price, then targets costs that ensure the price is met.

Price Elasticity of Demand :

measure of the sensitivity of demand to changes in price

inelastic demand: Demand hardly changes with a small change in price.

elastic demand: Demand changes greatly with a small change in price.

New Product Pricing :

Market Skimming or Price Skimming

setting a high price to skim maximum revenues from the segments willing to pay the high price

company makes fewer but more profitable sales

market-penetration pricing

setting a low price to attract a large number of buyers and a large market share

Product Mix Pricing Strategies:

product line pricing*

optional-product pricing*

captive-product pricing*

By-product pricing*

product bundle pricing*

discount - a straight reduction in price on purchases during a stated period of time or of larger quantities

cash, quantity, functional, and seasonal discounts

allowance - promotional money paid to retailers for an agreement to feature the manufacturer's products in some way

trade-in and promotional allowances

Segmented Pricing :

selling a product or service at two or more prices, where the difference in prices is not based on differences in costs

forms of segmented pricing:

customer-segment pricing

product form pricing

location-based pricing

Time-based pricing

reference prices: Prices that buyers carry in their minds and refer to when looking at a given product

dynamic pricing: Adjusting prices continually to meet the characteristics and needs of individual customers and situations

prevalent online where the Internet introduces a new age of fluid pricing

Initiating Price Changes

reasons for price cuts:

excess capacity

falling demand

attempt to dominate the market

reasons for price increases:

cost inflation

over-demand