Kindly state and analyze the pricing strategy of stree foods and how being used or the probable pricing strategy used by the business. Describe how the prices of their product may affect the sales and demand of the product
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Kindly state and analyze the pricing strategy of stree foods and how being used or the probable pricing strategy used by the business. Describe how the prices of their product may affect the sales and demand of the product.
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- why are ethical concerns important issues when designing service pricing and revenue management strategies?A study indicated that the optimal price for a consumer product is $32.45. Most products in the market sell for $29.99. What price would you suggest to retailers for selling the product and why? A haute cuisine restaurant is opening down the street, and its owner asks you for advise on pricing. Should you suggest that the restaurant price an appetizer at $6.99 or $7, and why?Which types of pricing strategies should be used when increasing the pirce?
- Briefly explain, and provide an example of, the four types of markets companies must consider for pricing decisions. Are these markets relevant for all types of products?Elaborate on 4 different pricing strategies that companies can utilize? Explain when would each of them be they most appropriate for use? Discuss the 2 main pricing strategies utilized for a new product?Describe factors such as demographics, geographic , psychographics and others that influence product pricing. Also Explain the impact of external influences on marketing mix strategies and their impact on strategic marketing plans ? Indentify and explain the impact of external forces on marketing decisions.
- List the general approaches to pricing. Select examples of products that you regularly use. i. Notice the price of each of these items For each item, ii. State the main benefits you are looking for in using the product. iii. Does the price communicate the total benefits sought? iv. Does the product’s price suggest good value? v. Do you think the manufacturer or retailer is overcharging or undercharging consumers for the product?A business has significant costs in the development stage of a new product prior to launch as well a high number of decommissioning costs at the end of the product’s life. Which method of costing would be most suited for the business to ensure that all of the costs associated with the product are considered in arriving at a pricing strategy to help achieve profitability over the product’s life? A Activity based costing B Target costing C Marginal costing D Total lifecycle costingThe target market generally determines the menu pricing strategies. mention the factors that a restaurants’ owner/manager must consider in order to determine the restaurant price list? and explain the restaurants’ pricing strategies?