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?
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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?
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- What are the possible problems that will be encountered if a firm uses | perceived-value pricing and lets the market determine the price of its products?The pricing strategies of car dealers and airlines are somewhat unique and are examples of variable pricing. Unlike the price of most goods that remain static for some period of time, these two are example of pricing that fluctuates constantly. Two people may pay different prices for a car or an airline ticket on the same day. Please read the two articles below and answer the following questions in a short few paragraphs. How do the two differ in strategy and what drives this difference? Find an example of another good or service that is priced like automobiles or airline seats and explain the process. https://www.nerdwallet.com/blog/loans/dealers-set-car-prices/ https://www.farecompare.com/travel-advice/understanding-airline-ticket-prices-why-your-seatmates-airfare-cost-more-or-less-than-yours/Under what environmental conditions are price wars likely to occur in an industry? What are the implications of price wars for a company?
- it 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.Discuss the following for the Ebay Company: Select a single product for your firm and set a price according to multiple pricing approaches. For instance: Competition-based: Briefly supply the appropriate data and explain how your price relates (at-, above-, or below-the-market). Which of the methods do you believe most closely reflects your firm’s pricing method? Why?A business knows that over a long-term period of time, it must ultimately set its prices above what factors? Explain
- How might the current price wars change the pricing tactics used by the major pizza chains?Many successful retailers use a loss leader pricing strategy, in which they advertise an item at a price below their cost and sell the item at that price to get customers into their store. They feel that these customers will continue to shop with their store and that they will make a profit in the long run. Do you consider this an unethical practice? Who benefits and who is hurt by such practices? Do you think the practices should be made illegal, as some states have done? How is this different from bait-and-switch pricing?EXPERIENTIAL EXERCISES Conduct a price comparison of several hotels or restaurants in the same class. What price differences did you find? Do you feel the companies that had the higher prices could justify those higher prices by offering additional features or a higher-quality product?