 PRICES AND PRICING POLICIES FOR SMALL ANIMAL AND EQUINE VETERINARY SERVICES: A STUDY OF TEACHING HOSPITALS AND MICHIGAN PRIVATE PRACTICES DURING 2000James W. Lloyd, Delta Leeper, Debra Donovan, Youssouf Camara and Steven G. Smith No 11552, Staff Paper Series from Michigan State University, Department of Agricultural, Food, and Resource Economics Abstract: Prices are a key determinant of financial performance for virtually any business in either the public or private sector, and the Veterinary Teaching Hospital at Michigan State University (MSU-VTH) offers no exception. To achieve consistent success, it is critical that a business understands the prevailing conditions in the marketplace when setting prices for its goods and services. Important issues to address include: 1. What are the prices of similar goods and services produced by other firms? 2. How important is price as a choice factor when customers select a source of these goods and services? 3. How do staff members view prices at the point-of-sale? 4. How are prices determined? These questions are especially crucial in small businesses such as those typical of the veterinary profession, where the decision-makers tend to be technical experts rather than trained business managers. Without this information, these decision-makers often have very little basis on which to develop a pricing policy. Keywords: Teaching/Communication/Extension/Profession (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:ags:midasp:11552 Access Statistics for this paper More papers in Staff Paper Series from Michigan State University, Department of Agricultural, Food, and Resource Economics Contact information at EDIRC. |
Is your work missing from RePEc? Here is how to contribute.
Questions or problems? Check the EconPapers FAQ or send mail to .
EconPapers is hosted by the
School of Business at Örebro University.