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A company bases its price on competitors’ current prices. This is a __________ pricing strategy.
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- What is meant by pricing? Describe any three strategies that can be done by firms if they do not want to increase the price of a product.Some firms have profit as a pricing objective, whereas others set prices forcustomer satisfaction. What are the major differences between these two?Which is better?What is the main (most important) way that Cost-Based Pricing is different from Customer Value-Based Pricing? Would the cost of coffee beans purchased by McDonald’s be a Fixed Cost or a Variable Cost?
- A business that's willing to sell items in bulk volumes at discounted prices to keep product moving is using what type of pricing orientation? A. Competitor B. Customer C. Profit D. SalesDriving volume is a key pricing objective for many businesses. Name and give an example of a marketer that uses each of the volume-oriented pricing strategies (4 strategies and 4 different examples). On each strategy explain whether or not you believe the approach is effective? Why or why not?What Is the man (most Important) way that Cost-Based Pricing is different from Customer Value- Based Pricing? Please use no more than 2 bullet points for your answer.
- Compare JCPenney’s former traditional approach to pricing versus the “Fair and Square” pricing strategy. Discuss the advantages and disadvantages of each.in terms of marketing how would you identify and discuss the important internal and external factors affecting a business’s pricing decision. Use examples to illustrate your answerA phone manufacturer is determining a price for its product, using acost-based pricing strategy. The fixed costs are $100,000, and thevariable costs are $50,000. If 1,000 units are produced and thecompany wants to have a 30 percent markup, what is the price of thephone?
- 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.Pricing is not an end in itself but a means to achieving certain objectives of the marketing department of a firm.” DiscussExplain. The Cineteca Nacional offers different box office prices; the price to the general public, prices to students, teachers and retirees. When establishing your price strategy, what is the approach that refers to price reductions that only affect those who meet certain conditions? A) Psychological pricing. B) Promotional pricing. C) Pricing by customer segments. D) Geographic pricing.