15-12: How to Pick the Right Diamond After viewing the video as students why this
purchase is so important?
They will realize it is because it is expensive,
but also a rare and emotional connected
Note: Please make sure that the video file is
located in the same folder as the PowerPoint
15-13: Everyday Low Pricing vs.
Group activity: Imagine you need an outfit for
an upcoming party.
You can visit TJMaxx, where you know you
will find an EDLP pricing strategy.
However, Nordstrom is having its semi-annual
sale, during which it drastically marks down its
usually high prices.
Where do you think you will find a better
price? Which offers better value? Why?
15-14: Consumers’ Use of Reference Prices Group activity: In groups, list the average
prices of the following items: rent on a
one-bedroom apartment, a backpack, a
washing machine, a mid-size car, a house, a
bicycle, and a soda. Compare the price points
Usually, students provide relatively accurate
price points for products they use frequently,
but their estimates likely vary significantly for
the other items.
Discuss how they determined these prices