Week 3 Discussion

As a marketing manager, you are asked by the company leadership to formulate the right pricing strategy for the company's two TV broadcast programs, namely: (1) Hi-tech(H) program which contains engineering, science and technology; and (2) the Wildlife(W) program which contains adventure, vacation, and flora-fauna. There are at least 2 customer groups targeted by the program: (a) Geeks, and (b) Regular. For each group, the number of customers and their WTP values are presented in the table below. Groups Number of Customers Hi-tech Wildlife Geeks 3000 15 4 Regular 10000 3 8 Assuming that the production cost for the two programs is 0, then:a. Mention 3 pricing strategies that can be applied.b. Calculate the price level and profit earned by each strategy.c. As a manager, which pricing strategy did you choose? State why.

Below is an actual job description for a sourcing and procurement internship position that was available at Disney Consumer Products/Studios. Based on the information in the job description, create accountabilities, objectives, and standards for this position.   TITLE Graduate Associate, Sourcing, & Procurement (Disney Consumer Products/Studios)   THE POSITION Provide analytical support for sourcing projects impacting business units, specifically targeting Disney Consumer Products & Studios. Benchmark current pricing models and develop new approaches to pricing/buying various products and services that yield creative and business advantage. Support the continuing efforts to increase the percentage of spend influenced, specifically as it relates to business units where we have had only a minor impact. Assist in the development of spend profiles, key stakeholder lists, savings opportunities where existing contracts are leveraged, savings opportunities in commodity areas that…

1. Illustrate how to calculate a breakeven point in terms of units and dollars using total fixed costs and variable costs in your calculation. 2. Which introductory pricing strategies have you noticed when you shop? 3. Illustrate two different pricing approaches that businesses use. 4. Which forecasting method would be most accurate for forecasting sales of hair-care products in the next year? How would your answer change if you were forecasting for the next month? For home appliances? 5. What is the most important part of a marketing audit? Why? What is the least important part? Why?

The airline industry alters the price of its seats based on the type of seat, the number of seats remaining, and the amount of time before the flight departs. This is example of: Select one: a. Basing-point pricing b. Zone pricing c. Dynamic pricing d. FOB-origin pricing       Which of the following statements is correct? Select one: a. If the prices of the product are below its costs, profits will boost. b. The pricing strategy suggesting value to the customer and profit to company should be followed. c. If customers perceive that the product is over-priced, they are keener to buy it. d. If customers perceive that a product’s price is lower than its value, they will not buy it.

Please read below scenario in which a consumer explains how she made purchasing decision for a car. First of all, I decided on the price and security features of car. Then, I determined my criteria about other features such as the oil amount consumed per 100 km, diesel or gasoline and so on. When I searched for information on the Internet, I felt that Brand X can offer me favorable alternatives. I visited one of the showrooms of Brand X. I loved this red car and purchased it. Please select the name of Hierarchy of Effects that the consumer likely used.   a) The Standard Learning Hierarchy b) The Low-Involvement Hierarchy c) The Experiential Hierarchy d) All the above

need answer and 2 line explanation for each question..

Pricing Q:  What are different factors that should be considered by marketers before deciding price of the product? Q: How the total cost is determined/calculated by company for deciding price of the product? Q: What is breakeven point? How is it calculated? Q: How the net profit is calculated? Q: Consult your book and write the following procedures and formulas for calculating price? Cost Plus pricing Breakeven pricing Return on investment pricing Value based pricing Q: Write the methods for determining pricing of new products?

The advantage of using the cost-plus pricing strategy is:   Select one:   a. It considers market and customer information b. It ensures that the business covers all product costs and earns a profit. c. It removes any costs that do not add value to the product. d. It looks at the relationship between price and quantity demand.

The following are the criteria for evaluating price metrics except: a. tracks with differences in value across segments b. is easy to measure and enforce c. offering economic value and design d. tracks with differences in cost to serve

For a marketing project, I am working on manufacturing and selling product (Ramen). I must write about ‘PRICE’ for the product we make. Following are the details which I should include. I have required a detailed explanation about how price affects and the changes based on the following information. (Include all information together and a long explanation)   Our product is a premium grocery item, and we want to be perceived as a high-quality brand.   The price for a single serving is $6.99 Price for 4 servings - 17.99 (Above market price)   Pricing approach Odd-even pricing will be used. And it always must be above market price.   Adjustments: Quantity Discounts – For retailers when we have some kits that are about to expire. Trade Discounts (Wholesalers and Retailers) Promotional Allowances to reduce price of the product to retailers so that they include it in their catalogs, and we sell more overall)   And will the price change over time? If so, how? (Since it is ramen, It doesn’t…

The Marketing Department is finalizing the CPM, IFE, and EFE for presentation to the CEO and members of the BOD next week as part of the preparations for the annual planning in November. You noticed that the KSFs in the CPM and the items included in the IFE (Strengths and Weaknesses) and EFE (Opportunities and Threats) were all rated from 1 to 4. Example in the CPM, the factors were rated from as high as 4 to as low as 1, the IFE which includes both the strengths and weaknesses were rated from 1 to 4 while the EFE items were rated from 1 to 4 as well. Using your knowledge and experience, you can infer that:     All tools were properly prepared.     Of the 3 matrices, only the EFE is correct.     Of the 3 matrices, only the IFE is not correct.     The CPM is accurate while the IFE and EFE matrices are inaccurate.     Of the 3 matrices, only the IFE is correct.

What is the main reason for establishing pricing objectives? a. to give direction for price movements over the product life cycle b. to define the initial pricec. to establish a good understanding of the market and the needs of the consumerd. to interact with the other elements of the marketing mix

Suppose you have been asked by a food company to design an experiment that examines consumers’ purchase intentions toward their product (i.e., cereals), as a result of their recent pricing strategies (i.e., low price, high price) and product quality (i.e., organic offerings, nonorganic offerings) strategies. Basically, they would like to know the best combination of product quality offering and pricing strategy that yields the highest levels of consumers’ purchase intentions. How would this experiment look like? When working on this assignment, you should consider the following: Subjects: The experiment participants should be customers who consume significant breakfast cereals and are diverse in terms of income group, age group and work type. Experimental conditions: Independent variables – quality (categorical), price Dependent variable – Propensity to pay Effects: The main effect shall be impact of independent variables on propensity to pay such as how much affect does quality or…

Which of the following statements about pricing objectives is true? a. Unit volume is not a type of pricing objective because it is a production strategy. b. Firms that are interested in strategic planning set their objectives to maximize current profit. c. Profit objectives are frequently measured in terms of return on investments. d. Market share and unit volume are synonymous

The 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?

As the Vice President of Marketing for her firm, Jana is consideringimplementing a company wide pricing policy that all products mustachieve a target profit margin of 15 percent, so the firm can achieve itsoverall growth objectives. What type of company objective is this? a. Profit orientation b. Sales orientation c. Competitor orientation d. Customer orientation e. Market orientation

Yamini a home science graduate from a reputed college has recently done a cookery course. She wished to start her own venture with the goal to provide ‘health food’ at a reasonable price. She discussed her idea with her teacher (|mentor) who encouraged her. After analyzing various options for starting her business venture, they shortlisted the option to sell ready-made and ‘ready-to-make’ vegetable shakes and sattu milkshakes. Then they both weighed the pros and cons of both the shortlisted options.   1. Name the function of management being discussed above and give any one of its characteristics.   2. Also briefly discuss any five limitations the function discussed in the case

Discuss the three shortcomings of usingbreakeven analysis in pricing decisions.

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For effective segmentation of market demand, the basis for putting each customer into a given price segment requires criteria that are _____ and _____.   verifiable; at each consumer's discretion   easy to check; hard to change   consistent across consumers; hard-to-change   based on preferences; easy to change

please providee explaination as to why the other options are incorrect. thank you

Compare the menu prices of two fast-food restaurants and two fine-dining restaurants. Identify the similarities and differences in pricing between the two fastfood menus. Identify the similarities and differences in pricing between the two finedining menus. Can you find examples of product/price bundling, price-led promotions and prestige pricing?

Describe what you are selling (1 item only): What is the price you will sell at to sustomer: How will you explain to potential customers WHY they should buy your product? If your total costs to run the company is $5,000 per month, how many do you have to sell each month to cover your costs? Show your calculation! Do you think this is a realistic number to achieve each month? Explain your answer. In case sales go slower than expected, come up with a volume discount offer for customers and describe how it will work in the box below: (for example if you buy 5 items instead of 1, you will give customer a 10% discount).