Based on your experience or readings, discuss the different types of pricing strategies and methodologies confronted by Purchasing and Supply Management professionals in the acquisition of goods and services - in particular cost- and market-based pricing, value-based pricing, penetration and predatory pricing, life cycle pricing, and segmented pricing.

Differentiate between customer-driven and competition-driven pricing and their affect on the buying organization's willingness and ability to purchase a particular good or service.

What is the role of Purchasing and Supply Management professionals as "gatekeepers" who control the flow of information and external contacts with suppliers?

Are these professionals considered decision makers with respect to product and supplier selection as well as price acceptance? As we proceed, and in addition to adding your thoughts about how industry prices products and how all of this relates to purchasing at that level, also try to relate some of what you're likely to see in the way retailers are using pricing to encourage early Christmas sales.

Opportunistic buying can save a considerable amount of money for both business and consumer purchasers but is it always wise to take advantage of these opportunities?