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- Unit_price abstract "Average prices represent, quite simply, total sales revenue divided by total units sold. Many products, however, are sold in multiple variants, such as bottle sizes. In these cases, managers face a challenge: they must determine 'comparable' units. Average prices can be calculated by weighting different unit selling prices by the percentage of unit sales (mix) for each product variant. If we use a standard, rather than an actual mix of sizes and product varieties, the result is price per statistical unit. Statistical units are also known as equivalent units.[1]Average price per unit and prices per statistical unit are needed by marketers who sell the same product in different packages, sizes, forms, or configurations at a variety of different prices. As in analyses of different channels, these product and price variations must be reflected accurately in overall average prices. If they are not, marketers may lose sight of what is happening to prices and why. If the price of each product variant remained unchanged, for example, but there was a shift in the mix of volume sold, then the average price per unit would change, but the price per statistical unit would not. Both of these metrics have value in identifying market movements. In a survey of nearly 200 senior marketing managers, 51 percent responded that they found the "average price per unit" metric very useful in managing and monitoring their businesses, while only 16% found "price per statistical unit" very useful.[1]In retail, unit price is the price for a single unit of measure of a product sold in more or less than the single unit.The "unit price" tells you the cost per pound, quart, or other unit of weight or volume of a food package. It is usually posted on the shelf below the food. The shelf tag shows the total price (item price) and price per unit (unit price) for the food item. Unit price is also a valuation method for buyers who purchase in bulk. Buyer seeks to purchase 10000 widgets. Seller One offers 1000 widgets packaged together for $5000. Seller Two offers 5000 widgets packaged together for $25000. Seller Three offers 500 widgets packaged together for $2000. All three sellers can offer a total of 10000 widgets to Buyer. Seller One offers widgets at a unit price of $5. Seller Two offers widgets at a unit price of $5. Seller Three offers widgets at a unit price of $4. Buyer uses unit price to value the packages offered by each of the three sellers and finds that Seller Three offers widgets at the best value, the best price.Unit price is a common form of valuation in sales contract for goods sold in bulk purchasing.The stock price of securities is a form of unit price because securities including stocks are often sold in bulks comprising many units.Unit price also is often used in the commodities trade.".
- Unit_price wikiPageExternalLink Talk:.
- Unit_price wikiPageExternalLink index.htm.
- Unit_price wikiPageExternalLink www.unitpricecalculator.com.
- Unit_price wikiPageID "13832983".
- Unit_price wikiPageRevisionID "586382212".
- Unit_price date "2012-05-01".
- Unit_price hasPhotoCollection Unit_price.
- Unit_price source "Farris, Paul W.; Neil T. Bendle; Phillip E. Pfeifer; David J. Reibstein . Marketing Metrics: The Definitive Guide to Measuring Marketing Performance.".
- Unit_price sourcepath "http://en.wikipedia.org/wiki/Talk: Unit price".
- Unit_price subject Category:Basic_financial_concepts.
- Unit_price subject Category:Financial_economics.
- Unit_price subject Category:Financial_markets.
- Unit_price subject Category:Procurement.
- Unit_price type Abstraction100002137.
- Unit_price type Act100030358.
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- Unit_price type BasicFinancialConcepts.
- Unit_price type Cognition100023271.
- Unit_price type Concept105835747.
- Unit_price type Content105809192.
- Unit_price type Event100029378.
- Unit_price type FinancialMarkets.
- Unit_price type Idea105833840.
- Unit_price type Market101097292.
- Unit_price type PsychologicalFeature100023100.
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- Unit_price comment "Average prices represent, quite simply, total sales revenue divided by total units sold. Many products, however, are sold in multiple variants, such as bottle sizes. In these cases, managers face a challenge: they must determine 'comparable' units. Average prices can be calculated by weighting different unit selling prices by the percentage of unit sales (mix) for each product variant.".
- Unit_price label "Unit price".
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- Unit_price wasDerivedFrom Unit_price?oldid=586382212.
- Unit_price isPrimaryTopicOf Unit_price.