Directions: Listen to the attached podcast about pricing your goods and then respond to the prompts.
https://www.fedex.com/en-us/small-business/making-it-work-podcast/how-to-price-your-goods.html
Paragraph 1: Talk about 2 ideas/processes discussed by the business owners in this podcast that were surprising and/or interesting to you and why. How will these 2 ideas influence your decisions for pricing your business? (If you do not have a business idea yet, take a local small business and play the role of the owner and think about how it would affect you.)
Paragraph 2: The textbook talks about revenue and cost drivers on pgs. 219 and 220. Choose one of the revenue drivers (customers, price, frequency, selling process) or the cost of goods sold driver and apply it to one of the businesses discussed in the podcast. For example, if you chose frequency and you chose Blended Designs. First explain what is meant by frequency and then discuss specifically how the this would affects Blended Designs pricing strategy decisions.
Paragraph 3: Explain how a revenue model is different than a business model. If you have your own business, tell me about the revenue model you use and why (pgs. 209-214). If you do not have a business or business idea yet, choose a local or online business and talk about their revenue model. Companies can use more than one revenue model depending on number of product lines so choose the most prominent revenue model you see in the business.