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Although cannibalization generally forces price cuts, in what
ways can it actually benefit a firm?
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- A business knows that over a long-term period of time, it must ultimately set its prices above what factors? ExplainTo what extent is the price most important factor in ensuring a company can maximise profits?Discuss the relationship of price to value. Does a low price necessarily mean a better value? Give an example to illustrate your opinion. How can a firm offer good value in a mature market where price seems to be the only visible means of differentiation?
- Should a company always respond to a competitor’s price cut, and what options are available if it does decide to respond?Under what circumstances would manufacturers either set prices that try to maximize profits, or deliberately charge a low price?Give an example of supply and demand market price changes that you or a family member have experienced or that you have learned about through the news media during or after a hurricane, typhoon, tsunami, fire, flood, mudslide, earthquake, or other natural disaster. If prices went up, did you think it was fair? Did you think it was ethical?
- Why is the rationing function of price necessary for price to serve this function in the market economy? DiscussUnder what environmental conditions are price wars likely to occur in an industry? What are the implications of price wars for a company?Describe the concept of price elasticity! Why it is for a monopoly less profitable to act inmarkets with high price elasticity? What can a monopolist or a firm with market power do, inorder to increase the profits? (use graphs)
- Explain what you think would happen if the price were set at a lower than the market priceit is from past exams, please help me in doing my homework One way of wading off competition is for Take-a-lot to tactfully adjust prices to their advantage. Discuss how Take-a-lot can implement price adaptation tactics to maintain its competitive edge.How do you protect your retail store from competitive threats in terms of the Non-Price Strategy?