From the course: Accounting Foundations: Cost-Based Pricing Strategies
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Pricing, strategy, and KPIs
From the course: Accounting Foundations: Cost-Based Pricing Strategies
Pricing, strategy, and KPIs
- Now you've been to a few Broadway musicals. - As have you. - [Man In Purple] Yes, I have. Now I've noticed this about people buying tickets to Broadway musicals. Some people care only about price. They are looking for the lowest cost tickets they can find. - See, I know exactly what you mean. My wife and daughters were in New York a few years ago. - My guess is that your wife, Ramona, is one of these price-sensitive customers. - That she is. She and my daughter stood for hours in half-price lines. They really didn't care what musicals they saw. They just wanted to get a good deal. - [Narrator] Now for ticket sellers catering to price-sensitive customers, a good key performance indicator, or KPI, would be how their prices compare to their competitors. - Exactly. They would want to measure and advertise the amount their customers could save by buying through them. - [Narrator] Now other ticket buyers for…
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