Answered: a. your distributors, b. What factors…

a. your distributors, b. What factors would you consider when pricing your new piece of luggage? Explain in detail. C. Who would be your target market for this product? Explain

Marketing

20th Edition

ISBN:9780357033791

Author:Pride, William M

Publisher:Pride, William M

Chapter19: Pricing Concepts

Section: Chapter Questions

Problem 6DRQ

See similar textbooks

Related questions

Q: As operations manager of Holz Furniture, youmust make a decision about adding a line of rustic…

A: EMV(large process line) = expected profit - cost = (2/3)*600000+(1/3)*300000-400000 = 100000

Q: 9. Which functional area would build the new product?

A: 9. (A)Management is responsible to transform and streamlines crucial business processes by…

Q: Hotel Complaints A luxury hotel has been receiving a lot of complaints from guests recently. The…

A: A Pareto Chart can be said as a chart that shows the recurrence of deformities, just as their…

Q: As the new materials manager you have been asked to develop a production plan for the next year that…

A: Give the case scenario, we need to make a few assumption as there is no specific information. These…

Q: M/s. Reliable Incorporates are in the business of Garment Manufacturing. The company is known for…

A: The four major processes in the new product or service development process are described as follows:…

Q: my choice is using warehousing to add value to the product through component modification, repair,…

A: Management of all the goods and services produced in an organization is very necessary in order to…

Q: out a product/service you or your family really explain in detail why you like the "service. Discuss…

A: Talking about the product which I and my family like is Maggie noodles. We like this product too…

Q: hotel

Q: What kind of organisational design is for the sales department of an SBU for a multi-product Co…

A: Organizational design Organizational design can be defined as process of shaping the organization in…

Q: What is the distinction between quality and effectiveness? Give an example of a target that was…

A: The primary goal of productivity is to complete the task at the lowest possible cost and with the…

Q: on

A: Customer Relationship Management or CRM is basically a technology used for managing interactions…

Q: What is the advantage of method mapping?

A: Constructing a flowchart representation of processes that illustrates how a product or transaction…

Q: How a hotel or restaurant manager, would gain new product ideas? Be specific.

A: Product idea is the understanding of the dynamics of the product in order to showcase the best…

Q: areas to be marketed to the building materials company?

A: The areas to be marketed to building material companies can be categorised in the following types

Q: In order to stay successful in the face of maturing products, companies have to obtain new ones by a…

A: New product development (or abbreviated as NPD) may be understood as a strategic course of action…

Q: define the approach that seeks to make revolutionary changes as opposed to evolutionary changes…

A: Business process reengineering is the approach that seeks to make revolutionary changes as opposed…

Q: Discuss supply chain measures for the core processes ?

A: The supply chain is the structure that links the company and its suppliers to manufacture and…

Q: What problems arise from the use of out-of-date technology?

A: Today with the increasing volatility, necessity and the applications of artificial intelligence,…

Q: What is best, product or service? Why?

A: A product or service is the output of a company that it provides to its targeted customers who buy…

Q: . A check sheet of the complaints 2. A Pareto chart

A: Over the course of 4 weeks, the hotel has received a number of complaints for different reasons,…

Q: Calculate the breakeven point for each product? Calculate contribution ratio for each product 3.…

A: In this question, for each product line, we have sales data, fixed costs data and variable costs…

Q: Maria wants to look into additional lists that could be suitable for her customers' requirements.…

A: Customer requirements are nothing but the certain particular beliefs or expectations of product…

Q: it is important that close cooperation exist between engineering, marketing and manufacturing if the…

A: Organization structure can be explained as the process that defines or describes the communication…

Q: Explain the meaning of the Following concepts. 1. Brand- 2. Product Branding - 3. Brand Name- 4.…

A: 1) Brand A brand is a sign of identity, label, emblem, name, term, and/or sentence used by…

Q: What are the components used by Nike to manufacture shoes and clothes?

A: Manufacturing Process Almost all Nike footwear are synthetic outdoor of the United States. The main…

Q: (a) What is the "product' that the Phillies mrket? (b) What "products" are the Phillies careful not…

A: Philadelphia Phillies ia baseball team that plays in major baseball league of U.S. It is quite…

Q: Create a 7p’s which are Product, Price, Promotion, Place, Packaging, Positioning and People. Also…

A: With globalization and onset of internet boom, the traditional games lost relevance and other of…

Q: Assume the role of a computer salesperson for the Can Do Computer Company selling to a small company…

A: In the given scenarion, this is a role of a computer salesperson for the Can Do Computer Company…

Q: The following data refer to a single product, the TECHWHIZ, made by the Markdata Computer…

A: 1. Contribution margin per unit = selling price – Variable costs Contribution margin per unit =…

Q: What is the 1- long term goals 2- intermediate term goals 3- short term goals for washing cars…

A: Organizational goals: They are the strategic objectives to guide, encourage, and instruct the people…

Q: Activity 2.1. Think of a product/service you want to introduce in the market by accomplishing the…

A: Disclaimer: Since you have asked multiple question, we will solve the first question for you. If you…

Q: What are the two main competitive dimensions related to product delivery?

A: Customer service is a standard for customer satisfaction, which is the planning of every retailer to…

Q: What Is process flowchart?

A: Process Flowchart refers to a pictorial representation of the flow of the process from the start…

Q: Differentiate between production process and service process. What are the characteristics of both…

A: Production process : Production process is the activity to create or adding value to goods . The…

Q: What problems arise from the use of out-of-date technology

A: Note: We'll answer the first question since the exact one wasn't specified. Please submit a new…

Q: What are the basic elements of the S&OP process? How do marketing, logistics, finance, and…

A: Below are the basic elements of the S&OP method.

Q: snip

A: Vision Statement: By framing a vision statement a company wants to communicate to its employees and…

Q: How big are the RFID tags? How are the tags being used?

A: “RFID tags (Radio Frequency IDentification Tags)” refers to the small electronic devices which uses…

Q: Case Study: JRP Computing Bhd JRP Computing Bhd (JRP) is a leading provider of Enterprise…

A: The main aim of every business is to increase the profitability of the company. The management is…

Q: Q.2.1 Explain the concept of the Product Life Cycle and discuss the phases of the Product Life…

A: The second question is about operations management.

Q: Imagine that JRP Computing Bhd. has saturated the large firm market for its products and competitors…

A: As JRP computing Bhd already have highest sell in the market place and already covered the large…

Q: Create a 7p’s which are Product, Price, Promotion, Place, Packaging, Positioning and People. Also…

A: Marketing mix - In today's competitive business scenario, companies use various marketing strategies…

Q: LABORATORY ACTIVITY: 1. Create SWaoat analysis matrix of your business. 2. Swot action plan for…

A: Your restaurant might serve the foremost delicious food or offer the most effective tableware in…

Q: How do design, functionality and productivity analysis relate to target costing and value…

A: Value engineering helps businesses achieve cost efficiencies and meet their cost and profitability…

Q: Find a forged tool (it can be a physical specimen around you or website information) and determine…

A: Forging is a commonly used production method. In forging, materials are deformed plastically &…

Q: What is industry analysis? how to apply selection of product and customers analysis to furniture…

A: Industry analysis is basically doing a multi directional analysis of the industry you are looking…

Question

2. You are working for a Canadian luggage company and manufacturer. Use the following product description to answer the questions below: Product Description: The luggage case has wheels and a retractable handle for pulling. The wheels move in all directions to make for easy movement when traveling. This new model is approved as a carry-on luggage piece for airline flights. It can be made of heavy-duty polyester fabric or a water- resistant tapestry fabric with leather trim; customers choice. a.How would you transport shipments of your new piece of luggage to all of keeping in mind you have retail locations in Canada, USA and Europe. Your manufacturing plant is in Nova Scotia. Explain a. your distributors, b. What factors would you consider when pricing your new piece of luggage? Explain in detail. C. Who would be your target market for this product? Explain

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, marketing and related others by exploring similar questions and additional content below.

Similar questions

1. What problems arise from the use of out-of-date technology?2. Why is the FAA relying on ancient hardware and software?3. Why will it take several years to convert to new hardware and software? What problems are the controllers likely to encounter in the conversion process?4. What options are available to the FAA? Hint: Do some additional research.5. As a governmental agency, costs and funding are an important issue. Are there ways to minimize the issues with cost?6. Write a report to management that describes the primary cause of the problems, a detailed plan to solve them, and show how the plan solves the problems and describe any other benefits it will provide.
What does the hotel chain website do to make the product tangible for the customer? Does anything in the site deal with the characteristic of perishables, for example, specials at some of the properties?
Assume the role of a computer salesperson for the Can Do Computer Company selling to a small company wanting to equip their field sales force of five salespeople with laptop computers. Assume the laptops you are selling have the following four features: (1) lightweight; (2) preloaded e-mail, contact management, and account profile software; (3) durable; and (4) full video and graphics capabilities. For each of these features, develop a list of potential benefits. How would you determine which features and benefits would be most important to this particular customer? How would you determine if a benefit could be classified as a confirmed benefit? Describe what sales tools and aids you might use to enhance your presentation.
A product at the Jennings Company enjoyed reasonable sales volumes, but its contributions to profits were disappointing. Last year, 17,500 units were produced and sold. The selling price is $22 per unit, the variable cost is $18 per unit, and the fixed cost is $80,000.a. What is the break-even quantity for this product? Use both graphic and algebraic approaches to get your answer.b. If sales were not expected to increase, by how much would Jennings have to reduce their variable cost to break even?c. Jennings believes that a $1 reduction in price will increase sales by 50 percent. Is this enough for Jennings to break even? If not, by how much would sales have to increase?d. Jennings is considering ways to either stimulate sales volume or decrease variable cost. Management believes that either sales can be increased by 30 percent or that variable cost can be reduced to 85 percent of its current level. Which alternative leads to higher contributions to profits, assuming that each is…
3. What are your solutions and recommendations?
What is the 1- long term goals 2- intermediate term goals 3- short term goals for washing cars service
Before a new product can be launched, important decisions and steps need to be taken from an operations and financial management perspective. Using your own idea for a new product, write a report applying the following themes from your prescribed textbook to your product: • The components of the product (Chapter 11, section 11.4.2.2)• Stages in the design of the product (Chapter 11, section 11.4.2.3)• A source of short-term financing for the new product development (Chapter 14, section14.10.2).
Street Food Business Idea, give a narrative description of the Product/service Idea, The Target Market, and the Production and delivery design. You may use bullets to emphasize points.
Qualifiers, order-winners, and delights: what are they and how can you use them?
9- Khalid is preparing feasibility study for his new business idea. Which of the following should be included in the marketing feasibility? a. details of competitors’ strengths and weakness b. details of machines to purchase c. Details of suppliers d. None of the Options
Match the following: 1. Reposition a product - 2. Marketing a product - 3. Scheduling production- 4. Modifying plant and equipment- 5. Raising money and paying debt- 6. Inventing a new product- A. Action steps include:Research the opportunity in the segment in the CourierSelect appropriate product attributes - Performance, Size, MTBFDisplay the R&D worksheet.Enter the product attributesNote the R&D completion dateDisplay the Production worksheetOrder capacity and automation (optionally, wait a year)Display the Finance worksheetFund the plant with stock and bond issuesSave the decisions B. Action steps include:Research the competitive environment in the CourierDisplay the Marketing worksheetEnter decisions for Price, Promotion and Sales BudgetsObserve the decision impact upon the computer's forecastDevelop a worst case estimate for demandEnter your worst case estimate for in the sales forecastSave the decisions C. Action steps include:Estimate peak demand…
Q.1 Your friend Monica wants to open a boutique of her own and is in the middle of preparing a report which has to specify the type of manufacturing process used. She is not able to relate the type of business with manufacturing process. Explain the various types of manufacturing processes and point out the best suitable process for her business. Give appropriate examples of all the manufacturing processes.