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Successful products - the story of the Mini
Description
Britain鈥檚 best selling car ever鈥. A story of how important it is to get the pricing right. The determining of a price should be a function of the costs of production. The makers of the Mini decided the price and then made it. The report highlights the problem of using competitive pricing rather than cost plus pricing.
Classroom Ideas
Give students a set of cost and quality variables for components of a product. Challenge them to design a product of the quality they want then decide how to price it, taking all costs into account.
Business in action
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