Pros And Cons Of Epi Pens

And the customer are sensitive to the price since those products are using only few times and need to be change all the time.

The principal microeconomic issue at work is supply and demand. The author invokes a number of economic theorists (both liberal and conservative) who endorse price gouging out of a belief that it is simply the natural manifestation of a capitalist society that relies on supply and demand. There is a belief that preventing price gouging allows consumers to act with little consequence for their actions. According to this line of thinking, a business is well within its rights to raise prices because they should respond to public demand; at other times, there is little demand, so they are wise to take advantage when there is significant demand. Moreover, economic theorists have argued that price-gouging is positive because it makes people question whether the item they are considering purchasing

Prices of the different products and services of the organization should be market specific. The economic capability and disposable income of clients should be put into consideration in setting prices for the products and services offered by the organization. By matching prices with the economic capability of a people, it would be much easier to for customers to access the products and services without straining or having to compromise and going for other products of lower quality (Donna, 2012).

market, there is price competition. This can lead to price wars and, therefore, lower prices for

Competition is one of the major reasons why companies cut the prices of their products and services. If other companies were to charge high prices for their products, this would mean that by reducing prices, the company would attract more customers. Pricing of medicine in most cases does not depend on the available resources, but rather, a decision by the manufacturer.

I think you brought a good point that relates to some of the price marketing strategies some health care organization use when it comes to the different in price for same service. The price for a flu shot that you mention is a really good example of this type of marketing. Using my mother as an example, I know the place she gets her flu shot is a pharmacy that some time even offers free flu shots. However, this pharmacy is not where she regularly gets her prescription filled, she only goes to this particular pharmacy when she needs the flu shot, but also picks up her prescription there that time since she is already at the pharmacy. Now the pharmacy provides a free flu shot but made hundreds of dollars on my mom’s prescription which if it was

Pricing is a relevant issue in procurement at all levels. Individuals purchasing the commodities of an organization should receive clarity on pricing. There is confusion in this

Due to increase in Globalization and search of a better lifestyle, people migrate to different places in the world. Now due to migration, problems like language acceptance and language understanding arises. In 1996-97, incident of Oakland (California) resolution for African-American students is very popular. I am against the Oakland resolution because of dialect, expressing thoughts, and essential of language. People of different countries have their different dialect culture and the way of expressing thoughts.

The goal here is to keep the prices down, keep the people buying and keep the materials flowing. A key strategy business use to keep prices down is to externalize costs. That means that the price tags on consumer products don’t capture the true costs of producing and distributing all these stuff.

CONTRA: this market is mostly for low and middle class products, there is no connection to premium brands, so the price should probably be discounted and these innovative products could be perceived as of lower quality; also stores can demand higher margin.

The last alternative could be to create a better marketing about their products, to compare their brand with the competition so the market can understand that the differences between prices is because of the good quality, the brand name, the knowledge, and that they are the only ones, the expert ones on those kind of products.

pricing closely, as being out of step with the market can cause dramatic market share changes in a

Competition within the industry as well as market supply and demand conditions set the price of products sold.

The prices of drugs by Pharmaceutical companies are dependent on various costs such as Production, Cost of R&D, Marketing & Distribution and Demand for the Drug4.

Quite often, consumers purchase goods and services based on their perceived need. Upon making the decision that a need is present and a solution is available consumers are more equipped to react to that need. Although previously perceived that consumers will normally accept prices as presented by suppliers that remains to not be the case. Consumers assess and process prices based on past purchases and other psychological process they went through previously such as persuasive marketing strategies, accessibility of the goods or services and possibly information gathered from prior purchasers of a product. There are countless options that are available to consumers. Consumers are then faced with the choice of choosing the product that best fulfills their need at that given point. Consumers who are knowledgeable regarding prices will be aware of the approximated price for products (Zhao, Zhao & Deng, 2015).