Introduction Hello everyone, my name is minh tan. Today, my group promise to give all of you an interesting presentation.

Now look at on the screen and watching one short clip So who can guess our topic? Yes, of course you are right. This is the easiest question, right? We all know that deciding on the exact price for a product is one of the most challenging tasks for a new business person. If you set the price too low, you may not cover all your costs. If the price is too high, customers may choose your competitors products. So how do you decide? The following information will give you some tips on how to determine what you should charge for product. First, second, Now, lets go to the first part. I have a mini game for you to warm up your body. This game is nearly similar to the game our teacher used to let us play. Do you remember? Yeah, I will divide class into two groups. Each group follows the sentence on the screen to find the suitable word. I have 15 sentences, so there are 15 words. This is the tips: all are synonyms of price. (Game) Ok the game has given to us many names of price in life. So what is the price? Price is the amount of money you charged for a product or service, or the sum of the values that consumers exchange for the benefits of ownership or usage. Naturally, Pricing is the process you need to go through to set the price. In other words and more detail, pricing is one of component if marketing mix, I means 4Ps, and It play an extremely important role. Why is pricing so much important like that. Lets move on to the role of pricing to find out the satisfactory answer. Striking characteristics of PRICING: Unlike the other elements of the marketing mix (product, place & promotion), pricing decisions affect revenues rather than costs. I means it is a key factor in producing revenue for the firm It is the easiest of all marketing variables to change. However, it is among the most complex decisions in the marketing plan Pricing is an extremely important and influential profit lever. An unwise decision to cut the price can cause serious problems for sales and cash flow. (ch thch)

Signal To The Buyer - Price offers a fast and very direct way of communicating with your customers. The price is visible to your buyer and provides a basis of comparison between brands. Price also can be used to position your brand as a high quality product. -Instrument of Competition - a competitive weapon to help a business exploit market opportunities, or dominate others market share. - Marketing Program Considerations - Prices can also substitute for advertising and sales promotion, in addition to being used to reinforce these activities in the marketing program. For example, pricing strategy can be used as an incentive to channel members as the focus of promotional strategy and as a signal of value. So pricing is important. The bad news for entrepreneurs is that pricing is a really tough to get right. There are so many factors to consider, and much uncertainty about whether a price change will have the desired effect. However, the good news for everyone be here is that Uyn will help you make pricing more clear!

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Let's use an example. Your product sells for $100, and your cost of goods are $50 per unit, for a gross profit of $50. your overhead is $5,000 per month. If you sell 100 units you'll break even. Now imagine you cut your price 20%, to $80, leaving you with $30 of gross margin. You need to sell 66% more units. Ouch! What if you cut the price to $70. This 30% price cut means you have to sell 1.5 times more units - just to stay even.

GAME
A fixed amount of money that you pay regularly for the use of a room/house/car that someone owns: rent a fixed charge for a privilege or for professional services: fee the amount of a charge or payment expressed as a percentage of another amount, or as a basis of calculation: rate A fee or percentage allowed to a sales representative or an agent for services rendered: commission an official valuation of property, used as a basis for levying a tax.: assessment A fee for instruction, especially at a formal institution of learning: tuition the money that you pay for a journey on a vehicle such as a bus or train: fare a small amount of money that you have to pay to use a road, cross a bridge: toll a sum added to an ordinary price or charge: premium a fee charged in advance to retain the services of someone: retainer money or a present that you give to someone so that they will do something for you, usually something dishonest: bribe a fixed amount of money agreed every year as pay for an employee, usually paid directly into his or her bank account every month:: salary

Payment for labor or services to a worker, especially remuneration on an hourly, daily, or weekly basis or by the piece: wage a fixed charge for borrowing money; usually a percentage of the amount borrowed: interest a sum of money levied on incomes, property, sales, etc., by a government for its support or for specific services: tax