Q: Direction: Describe or interpret the given illustrations in 2-5 sentences only. Margin -…
A: Ans. Margin and markup are generally confused and used interchangeably by the people but they are…
Q: The inefficiency of second best pricing is larger.. Select one: a. all the other alternatives are…
A: The second best pricing refers to the next best alternative price which could be choosen if the…
Q: If you see a price that is a little less than a round number, e.g. $1.99 or €99.95, does it makes…
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Q: 1.4)Over the past year, you and your friend have decided to embark on a new business venture, you…
A: The five aspects, which I will consider when developing the price of the new product are as follows
Q: A company has seen prices being gradually eroded by competition for several years. Suggest…
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Q: Should discounts be applied to products that are also in high demand? Justify!
A:
Q: Examine the fundamental basics for pricing like the economics of supply and demand and the…
A: Law and supply are the basic fundamentals of pricing. It is the relationship between producers who…
Q: Suppose a manufacturer of exercise equipment sets a suggested price to the consumer of $395 for a…
A: Given, Retail margin factor = 0.4 Wholesale margin factor = 0.25 Market price = 395
Q: What
A: Pricing a product optimally is not a child play rather a complex and challenging task. A company…
Q: An approach services use to set prices according to changing market conditions is known as O…
A: Price is more of a psychological concept where it acts as a perceived value in the eyes of the…
Q: What is the name of the discounting method that is used to attract new customers?
A: The discount and allowance facility is particularly important in the selling and distributing of…
Q: An approach services use to set prices according to changing market conditions is known as
A: Price is the monetary value assigned to a good or service, and it is the outcome of a complicated…
Q: Effective cost-based pricing involves understanding how much value customers place on the benefits…
A: Cost based pricing is the one of the major pricing strategy used in the business…
Q: Comment on “Price is a measure of the product’s quality and performance.” Prove your answer and cite…
A: PRICE: Price refers to the actual amount paid by the customers in exchange for the goods or…
Q: Under cost-plus pricing, the more price elastic the demand is for a product, the higher the markup…
A: Cost-Plus pricing is a pricing technique that is used commonly in many industries, for the reason…
Q: The most effective pricing strategy to use when there is a brand new product in the market?
A: Pricing strategy can be explained as technique which helps the company to price its products or…
Q: How do you explain the similarities and differences you see in these prices?
A: The above questions asked are subjective in nature and hence cannot be answered. While the answer…
Q: Which of the following statements is true with regard to price? O a. Unlike product features, prices…
A: Price is one of the important constituents in a company's marketing mix. It is the amount that a…
Q: How can a business that is using "ideal standards" to set prices under a cost-plus method…
A: COST-PLUS PRICING METHOD: This is a type of pricing strategy that simply means selling the goods or…
Q: Moving on from Product to Price, review the following pricing strategies. A skimming strategy…
A: Pricing refers to a marketing strategy in which a marketer makes strategies to determine the price…
Q: A company’s offering represents the bundling of the tangible good, the intangible service, and the…
A: Today the way of doing business is changing and so is marketing. A company’s marketing plan…
Q: What do you call a price which is artificially imposed by law? a. Rounded price b. Rectangle price…
A: Artificial prices are imposed by law in order to set upper and lower price limits so as to ensure…
Q: Pricing that is adopted to influence the perception of the value of the product by comparing the…
A: Pricing: Pricing refers to setting a value for the product based on the required cost to manufacture…
Q: Over the past year, you and your friend have decided to embark on a new business venture, you have…
A: Whenever you are starting out or starting over any business venture, i.e, baked bread here are 5…
Q: particularly low price and is widely advertised. When coming to buy the item, consumers a
A: The bait prices are the unscrupulous promoting strategy that includes attracting purchasers with the…
Q: what is an amount deducted from the list price that is granted by a supplier of goods/services on…
A: When a supplier reduces or deducts any amount of price from the specifically listed price of the…
Q: ________ is the price that the suppliers require the buyer to pay for the product: Select one: a.…
A: The amount paid by the buyers to purchase the product from the seller is the price. IT helps in the…
Q: Pricing is an uncontrollable element of the marketing environment.; True or False
A: Marketing environment: It comprises factors or forces that can be internal and external to…
Q: All of these statements about price are true except which? Multiple Choice The price must…
A: Price can be defined as some compensation (in monetary terms) that is given by an individual to…
Q: Discuss the importance of consumer perceptions of value and costs in setting prices. Give examples
A: Pricing is the process of determining what would be the worth of the produced goods or services. It…
Q: 3. Give an example of a product that challenges the market leader by offering a slightly lower…
A: A company becomes a market leader when its products are getting sold in the maximum quantity and far…
Q: 38.Which of the following is not a valid reason for using trade discounts as adjustment to list…
A: Trade discounts are normally offered to encourage higher volume of purchases with discounts. Hence,…
Q: What are the three possible starting points for the process of setting an initial price as…
A: There seem to be varied instances within which a vendor ought to devise a price for an item that…
Q: Explain why a product or service’s contribution (selling price minus variable cost) is an important…
A: The product and service plays a very important role in creating right marketing decisions. It plays…
Q: Pricing that is adopted to influence the perception of the value of the product by comparing the…
A: Companies use different types of pricing strategies in order to to sell their products and hence all…
Q: Discuss the concept of market and importance of market price
A: A market is a gathering place for two or more parties to exchange products and services. Buyers and…
Q: The retailer who sets prices below its costs to drive competitive retailers out of business is…
A: A firm or company uses various pricing strategies to sell the product in the market. The pricing…
Q: Market skimming pricing refers to which of the following? O a. Offering low price in the beginning…
A: Market skimming pricing is a strategy that involves pricing the services or the products relatively…
Q: Why is price sometimes referred to as captured value?
A: Captured value occurs when a business or a firm, instead of losing complete value, can capture a…
Q: How will profit be affected if the individual firms. Increased price
A: Achieving higher profit is one of the major goal of any organisation. different…
Q: Which ones usually will result in a firm having lower prices?
A: A firm can have a strategy of setting a lower price for its product in the market under the…
Q: Most companies offer basic products to groups of customers and at almost the same prices, which…
A: Products refers to the solutions seeked by the customer. The products and service are the offerings…
Q: Product line pricing refers to setting a price for by-products in order to make the main product’s…
A: Yes, Its True! By-product pricing refers to setting a price for by-products to make the main…
Q: If an item is particularly valuable to a customer, using customer-based pricing might suggest a…
A: Customer based pricing is the method of pricing where a company sets price for the products or…
Q: A company bases its price on competitors’ current prices. This is a __________ pricing strategy.
A: Competitive Pricing Strategy With the ever-increasing competition within the retail market, the…
Q: Why fixed cost does not change when there is a change in sales? explain
A: From the word itself, it can clearly be comprehended that the cost which is fixed and remains…
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- Discuss the eight stages for establishing prices.In a business organization, describe how what a manager is referring to when speaking of “prices” differs from what a manager is referring to when speaking of “costs.”A company has seen prices being gradually eroded by competition for several years. Suggest approaches it could consider avoid having to cut prices further
- Describe information that consumers may perceive from price. For example, some consumers think that if an item has a high price, then it will probably be better than its competitors. That may or may not be true.What might make it difficult to determine the prices of one’s competitors? When such difficulties occur, what could be done to surmount them?To what extent is the price most important factor in ensuring a company can maximise profits?
- Make generalizations about what kinds of products tend to be price inelastic across different product categories such as foods, services, personal items, and utilities.Explain the price-demand relationship. What factors must sellers consider when setting prices in different types of markets?Examine the fundamental basics for pricing like the economics of supply and demand and the overall determinats of demand.