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- Question Imagine you have recently joined as a brand manager in a clothing store. Currently, the firm is following price skimming strategy. However, you have idea about good-betterbest (G-B-B) pricing strategy and you want to implement that. How would you convince your supervisor that this G-B-B pricing strategy is better than any other available options? Explain your answer in detail.Question 1) True or false A- Experienced marketers hope to emulate entrepreneurs with a strong intuition for pricing without using financial tools. True False B- A marketer has assembled costs related to the cost of goods sold, the selling and marketing costs, and the costs of keeping the buildings running effectively. He or she is now ready to set the price of the product. True False C- Temporary market conditions can affect pricing, and this has become a defense of the practice of price discrimination. True FalseQuestion 1 What are the major pricing strategies that can be used at a restaurant ? 300 words minimum Question 2 What are the price adjustment strategies that can be used by a restaurant? 400 words minimum Question 3 Identify how a restaurant can modify its place and promotion during a crisis period. 500 words minimum.
- Question 1 Eskom brings in former employees, manufacturers to deal with crisisEskom, which readily concedes it does not have the skills to maintain its plants, is on a drive to bring back former employees to mentor and train staff. It is also, at last, bringing in the original equipment manufacturers (OEMs) to conduct maintenance on parts of its plants where its own engineers and artisans are having difficulty. This has previously been difficult due to red tape around public procurement. Eskom's chief executive André de Ruyter and chief operations officer Jan Oberholzer are frank about Eskom's lack of capacity, which is a large part of the downward trend in the performance of its generating units. Unscheduled breakdowns, which cause load shedding, have been on an upward trend for a decade. In 2011, for instance, Eskom's energy availability factor – which is the proportion of its plant available to dispatch energy – was 84.5%. By 2020, this had fallen to 66.6%, and now sits at 56%.While…6 What is the advantage to a business of using bar-code pricing? Question 6 options: Reduces the number of employees needed for sales Reduces required business security Easier to change prices Easier for customers to readQUESTION 1. The CEO of Talk Ltd, Ms Andi, has made an observation about the pricing of products and seeks youradvice as the organisations Management Accountant. Ms Andi has noticed that despite three steepprice increases to products over the last 12 months, customers have not been deterred and sales arestronger than ever before. Explain to the CEO Ms Andi why this could be the case.
- Question A10 If a business is launching a new product and hopes to achieve a large market share by achieving a low margin on each sale, but in the meantime spread its fixed costs across a large number of units of output, what pricing strategy is it pursuing? A Price skimming B Price discrimination C Price penetration D Price matchingQ3: Kimberly owns and operates a tennis shop in a resort area. The business is seasonal. A large part of the annual revenues are due to sales in June, July, and August. Kimberly keeps the shop open during the remaining months of the year, but the inventory carried during those months is reduced. During the summer months, the amount of inventory on hand is substantially increased. Kimberly has the business insured under the special form businessowners policy (BOP) with no endorsements attached. Assume you are a risk management consultant. Identify the major loss exposures that Kimberly faces. Assume that a covered loss occurs in July, which damages part of the inventory. Does the BOP provide any protection for the increase in inventory during the summer months? Explain your answer. Kimberly plans to hire an additional employee during the summer months when sales are increasing. She is concerned about possible employee theft and dishonesty. Explain to Kimberly how this loss exposure…QUESTION II: X–OPOLY, INC. X-Opoly, Inc., was founded by two first-year college students to produce a knockoff real estate board game similar to the popular Parker Brothers; game Monopoly®. Initially, the partners started the company just to produce a board game based on popular local landmarks in their small college town, as a way to help pay for their college expenses. However, the game was a big success and because they enjoyed running their own business, they decided to pursue the business full-time after graduation. X-Opoly has grown rapidly over the last couple of years, designing and producing custom real estate trading games for universities, municipalities, chambers of commerce, and lately even some businesses. Orders range from a couple of hundred games to an occasional order for several thousand. This year X-Opoly expects to sell 50,000 units and projects that its sales will grow 25 percent annually for the next five years. X-Opoly’s orders are either for a new game…
- Question 3 Dr. Peter Kraljic claims that there is no single best way existed for managing purchasing in allcircumstances. He proposed “Kraljic Purchasing Portfolio model”. Elaburate the FOUR (4)Purchasing Portfolio with suitable examples answer should be elaborated with proper examples.14 What is an example of an unethical pricing practice? Question 14 options: A company prices its products low in an attempt to drive its competitors out of business A business prices a new product line to reflect high quality and status. A business increases its prices when the cost to make the products increases. A firm sets a business objective to increase its profit margin over the next five yearsVertical contracts between manufacturers and retailers often aim to Question 12 options: Incentivize the retailers to undertake costly activities, which they otherwise may not realize the full benefits of on their own Reward the manufacturer for undertaking the risk inherent in introducing a new product Serve as a "signal" of the retailer's belief of the likely success of his product All of the above