Being at the premium end is a category upon itself. Describe the indicators of premiumness or high quality and high price that can apply to most types of products.
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Q: Describe the indicators of Premiumness or high price that can apply to most type of products
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Being at the premium end is a category upon itself.
Describe the indicators of premiumness or high quality and
high price that can apply to most types of products.
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- Being at the premium end is category upon itself. Describe the indicator of premiumness or high quality and high price that can apply to most types of productsDDK is a high-technology firm. It has developed a new component that offers superior advantages over competing products. This component can be used in a high-speed production system in all factories. With durable composition, it has a useful life of ten months versus four months for competing products. The component will offer users a significant improvement in production efficiency. 1. Identify the FIVE steps of value-based approach for pricing. Explain EACH step with an example based on the case above.Should discounts be applied to products that are also in high demand? Justify!
- List and explain four key influencers on pricing decisions . A new customer ABC Ltd, wants to buy 500 units of your product, but is only prepared to pay RM4 per clock. This will not cover the total cost of making the product, but it will cover the variable costs – anything over RM3 makes a Provide and discuss three factors that you would take into account when deciding whether or not to take the order.First review the topics below and select one. Once selected, include the concept, a description of the concept, and what about the concept you understand and what it is about the concept that can be confusing. How pricing objectives should guide strategy planning for pricing decisions. Setting the price level for a product in the early stages of the product life cycle. Variations of a price structure, including discounts, allowances, and who pays transportation costs. The role of price in obtaining a competitive advantage by offering target customers superior value. The legality of price-level and price-flexibility policies. How most wholesalers and retailers set their prices by using markups. Advantages and disadvantages of average-cost pricing. How to use break-even analysis to evaluate possible prices. The advantages of marginal analysis and how to use it for price setting. Demand-oriented factors that influence price setting. Elements of the marketing strategy planning process…1. Consider a familiar product, such as Apple’s iPhone. What would you consider to be its next closest substitute? Describe two factors that would differentiate the iPhone from its next closest substitute. 2. What is the difference between a positive differentiating factor and a negative one? Is it possible for an item to simultaneously have both positive and negative differentiating factors? 3. Which would be more prudent: pricing an item above its VTC, exactly at its VTC, or below its VTC? Explain your reasoning.
- which is more important price or quality?1. Being at the premium end is a category upon itself. Describe the indicators of premiumness or high quality and high price that can apply to most types of products?_____policy will produce more income in the early stages of a product life cycle only when the top of the market is insensitive to price and willing to pay what is asked. a. Prestige Pricing b. Skimming price c. Penetration Pricing. d. Psychological Pricing
- Explain why it is a good idea to price a product according to value perception of the customers. Also give some examples of products in which the company has used value-based pricing technique ???Which approach to pricing is the fairest to the customers-cost-based, competition-based or demand based pricing? Justify your answer with respect to the below four scenarios. (c.) App based Taxi service and (a.) software product licenses (b.) subscription to OTT platforms (d) Movie Theatre TicketA company has two products. One is moderately priced and has fewer number of competitors. The other product is low-priced and has many substitutes. What is the best advice about pricing that you can give to this company? a. Give discounts to the low-priced items only b. Give discounts to both of these products c. Give discounts for the moderately priced products only d. Do not give discounts for any of these products
