Test Mkt 402 Essay examples

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

Layer 6: Presentation - Layer 6 takes the data provided by the Application layer and converts it into a standard format that the other layers can understand.

the case of a warning. It can be vital to make a person’s quality of life

1. This story is about the Supreme Court’s decision. What process did this case have to go through to get to the Supreme Court?

31) Your firm uses the payback method but does not discount any of the cash flows. Calculate the payback for the following investment: A machine costs $200,000 with after-tax installation costs of $15,000. After-tax cash inflows are expected to be 36,000 per year for the next seven years.

The key to successful pricing is to match the product with the consumer's perception of value.

There are a few issues of concern that ought to be considered in every research venture. Firstly, I thought that it was important to direct my research and investigation with the primary point of advancing truth, information, and to keep away from slips that may happen because of carelessness. I attempted to agree to preclusions against distorting, adulterating, or manufacture the given research information. These were gone for staying away from slip and advancing truth.

As a consumer, we all get frustrated when we think a listed price is “too high” whether it is a necessity, and we have to buy it, or we just really want it. Some of the largest complaints by consumers today are directed towards the cost of goods. Marketing research has shown us that the costs of some items are being intentionally raised based on aspects of the individual who is making the purchase. The manipulation of prices can be broken down into three main issues: price fixing, price gouging, and price discrimination. Are there any positive or beneficial reasons to do this? Yes and no, the following paragraphs provide information about each practice individually.

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

The first example of justifying a value is when getting my car detailed. I am looking at market value, fair value and the utility factor for the services. This service satisfies the need and desire for a clean car to take clients out with, after it was dirtied by a tough winter. I compared prices for similar car detailing services, and asked around for referrals from several people. Of the two companies, one was recommended strongly. I saw examples of each work and agreed with the highly recommended company. In my opinion, the cost at the time was fair value and, compared to other detailers, was market value. The prices were advertised for a year without any price increase. The second example of justifying a value is when purchasing products from Starbucks Coffee. There is a slight influence upon me through the desire of my teenage daughter wanting to visit the coffee shop. With my effective purchasing power, and both our desire of a drink/coffee/treat once and a while, we will go to Starbucks. It is true that Starbucks is a Going Concern, and their prices are fair value compared to Timothies and Tim Hortons. I have joined their rewards program, which enables me to occasionally receive free or discounted drinks, as well as free refills. Starbucks, with the loyalty program, is an investment value to me.

In order to make a profit, a business should ensure that its products are priced above their

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).

Keeping these realities in mind, it is very much obvious that for this market, we choose and follow a value based pricing and do not keep the price of the product too high. It is advisable rather to follow an average pricing and let the consumers build some enthusiasm around the product.

Although consumers noticed it but decided to go along with it as far as the company does not tingles with prices.

Price, which is one of the most important elements of the marketing mix, can be difficult to get right. Pricing too high, or low, can negatively impact on customer satisfaction and revenue. Adopting a pricing strategy is necessary to achieve desired sales objectives (Chan & Wong 2005).