Be prepared to discuss the following, supporting your arguments with biblical principles that apply: How to set prices that are just and fair that allow firms to pay employees well, but still make a profit. How to advertise and promote one’s product/service in a way that truly represents the value/performance of the product/service.
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- Be prepared to discuss the following, supporting your arguments with biblical principles that apply:
- How to set prices that are just and fair that allow firms to pay employees well, but still make a profit.
- How to advertise and promote one’s product/service in a way that truly represents the value/performance of the product/service.
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- As a newly appointed CFO of a microfinance, you realize the products on offer are not viable and therefore you decide to overhaul the product development process and product pricing. Highlight the key aspects you will focus on to ensure products are viable.You are an owner of a small independent chain of coffee houses competing head-to-head with Costa Coffee. The retail price your customers pay for coffee is exactly the same as at Costa Coffee. The wholesale price you pay for roasted coffee beans has increased by 25%. You understand that you cannot absorb this increase and that it must be passed on to your customers. However, you are concerned about the consequences of an open price increase. Discuss three alternative price increase strategies that address your concerns.Take a position: Prices should reflect the value consumers are willing to pay versus Prices should reflect only the cost of making a product or delivering a service.
- For this discussion, use the following hypothetical scenario as the basis for your response: Your business partner is strongly opposed to your proposal to charge your largest customers lower prices for your web-based services than what you will charge your smaller customers. She is arguing it is unethical, unfair, and possibly illegal. Address the following in your discussion post: Make a case that both groups of customers will be satisfied with the deal and that this is a perfectly legal form of pricing in a business-to-customer relationship. What degree is this type of price discrimination? How will the plan increase revenue? Why will both groups of customers be satisfied with the deal? Why is this a legal form of pricing?How is the information provided by shadow prices clearly valuable to management?Read the statements below and answer all the five questions that follow:Materials management includes the job of purchasing. In any industry, purchase refers to the acquisition of necessary equipment, materials, tools, and parts. The relevance of the buying function varies depending on the industry and its size. This duty is performed by the works manager in small businesses, and by a distinct department in major manufacturing companies. As soon as a purchaser places an order he/she commits a substantial portion of the finance of the corporation which affects the working capital and cash flow position. He/she is a highly responsible individual who interacts with many salespeople and can thus be deemed to have contributed to the company's public relations efforts. Source: https://businesstech.co.za/news/business/220551/these-are-the-5-biggest-retailers-in-south-africa/ You are managing the purchasing department at Walmart's Cambridge Foods in South Africa. Critically discuss the…
- You are an owner of a small independent chain of coffee houses competing head-to-head with Costa Coffee. The retail price your customers pay for coffee is exactly the same as at Costa Coffee.The wholesale price you pay for roasted coffee beans has increased by 25%. You understand that you cannot absorb this increase and that it must be passed on to your customers. However, you are concerned about the consequences of an open price increase. Discuss three alternative price increase strategies that address your concerns. ( Maximum 250 words)Assume you are proprietor of any firm you like. Briefly describe the product or services your firm will offer for sale. Would you extend trade credit to your customers? Why are why not? How will this decision affect your sales and profit? If you choose to extend credit, how would you ensure that your firm is paid by its customers?Should a company always respond to a competitor’s price cut, and what options are available if it does decide to respond?
- Your friend, Lisa Ryan, is opening a smoothie shop that will sell a variety of smoothie drinks in the $5 to $7 price range. When you ask her if she is worried that the steep price of her smoothies might encourage prospective customers to buy a soft drink or a sports drink instead of buying her product, Lisa says:“You are right. This is a real concern I have. Is there anything I can do to discourage potential customers from making such a choice?” What information would you provide to Lisa in response to her question?If the weak form of efficient markets holds, then Both B and C Both A and B Stock prices reflect all information contained in past prices. Technical Analysis is useful Stock prices reflect all information contained in past prices.If your customers can see the value of buying your product or service, they'll happily pay the price. If they don't see that value, it makes little difference how low you set your price, the customer will look somewhere else for the perceived value, even if "somewhere else" costs more than your product or service. True or False?