(1) Why wouldn’t a firm just drop any product that isn’tselling in high enough volume to reach its break-evenpoint? (2) Is “9”-style pricing ethical? Why or why not?
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(1) Why wouldn’t a firm just drop any product that isn’t
selling in high enough volume to reach its break-even
point? (2) Is “9”-style pricing ethical? Why or why not?
Step by step
Solved in 2 steps
- 1. Flexible pricing is ineffective in marketplaces where consumers purchase complicated goods or services only occasionally. 2. The insurance and funeral sectors can both use flexible pricing. A. 1st statement is correct, second statement is incorrect B. 1st statement is incorrect, second statement is correct C. Both statements are correct D. Both statements are incorrectSeveral major retailers have begun to test the extreme markdown strategy that lies behind popular dollar stores such asDollar General and Dollar Tree Stores. Kroger, Walmart, andothers have opened sections in selected stores that featureitems from snacks to beauty supplies, all priced at $1. Is thisexperiment simply a test of pricing strategy? What else mightmotivate these retailers to offer such deep discounts?Imagine that you are the manager of a large clothing company with market power that specializes in selling blue jean pants. 1) Choose two pricing strategies that were discussed in Chapter (Pricing Strategies for Firms with Market Power) that you would implement as the firm manager. 2) Explain how exactly you would implement these two pricing strategies in the real-world Please answer the 2nd part Expert Answer Step 1 "Since you have asked two questions, we will answer only first question for you. If you have any doubt, then repost the questions separately." Step 2 1) Market Power is the degree to which a firm can influence the price of an item by exercising control over its demand, supply, or both. Pricing strategies are aimed at finding a product’s optimum price, considering the various factors like market objectives, consumer demand, product attributes, price of competitors and market and economic trends. Firms with market power use different price strategies to…
- If you were planning on creating an online financial brokerage service, how would you approach creating a pricing strategy with consideration to marginal cost, demand, the elasticity of demand, no of competitors, no. of substitutes, prices of similar products on the market etc.Explain the six-step process in setting company’s pricing policy with proper example? Describe, in as much detail as possible, If you don't able then please skip it.A2) Economics Prices can be determined with complete reliance on costs, the inverse elasticity rule, and complete reliance on-demand and no reference to cost. Real-world pricing strategies lie in this continuum. a. False b. True c. It depends
- a) It has been realised that the two concepts being the Pareto distribution of the customer base and the exchange spectrum, together they help one understand pricing strategy more effectively and in particular with regard to the effect of the Web on pricing for both sellers and customers.You are expected to briefly discuss the objectives of firms with regard to Pareto distribution. Where possible give examples. b) Briefly discuss comparison between modernism and post-modernism.is pricing policy an appropriate mechanism to control inventory levels? If so how should price be determined?1. The formula of paracetamol tablets is vertically identical for all brands. Glaxo charges a premium price for this same product, yet remains the unchallenged market leader. Discuss what this implies about the value of a brand name. Are there any ethical issue involved in this type of pricing? Which pricing strategy they are applying and why?Note: Please answer the question with points and example
- Could Lululemon have achieved the same level of suc- cess had it executed an alternative pricing strategy?Pricing strategies are often carried out by companies in the industry to maintain their presence in the industry, especially for companies that have market power. a. What is meant by “Limit Pricing” and “Predatory Pricing”, are the two strategies different, explain the difference if any? b. The "Chain Store Paradox" generally occurs in which price strategy from the possible strategies in question a, explains the paradox?3. IKEA has been a practitioner of value pricing (i.e., win loyal customers by charging a fairly low price for a high-quality offering). Visit the IKEA website. Does the website enhance the firm’s ability to continue with value pricing? Is value pricing just a matter of simply lowering prices? Describe viable target markets for IKEA. Has IKEA changed the way people shop for furniture? Explain
