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Explain how a brand of a commonly purchased consumer packaged goods such as toilet tissue, could be skim-priced.
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- By definition, "Price" isSingle choice. a. what is charged for something (product or service) b. the term used by marketers defining the cost of a product c. the sticker on a product that suggests a price d. calculated by dividing cost with retail selling priceExplain how a brand of a commonly purchased consumer packaged goods, such as toilet tissue, could be skim-priced? A service provider has decided to charge his customers P5, 000 for every upholstery cleaning service. The customer thinks that it is a steal , since the service provider is doing a great job and thinks that it could have costed them at least P7, 000 had they agreed to the first service provider that they went to. The total cost to the provider is P2, 000 which include the cleaning materials and labor. Identify the ceiling price and floor price of the service. Should the service provider decide to increase his price to P6, 500, do you think it is still acceptable to the customer? Why? Give an example of a situation where a price that is low with respect to the product’s VTC would not serve as an incentive to buy. What would be the implications of this for the use of a penetration strategy for pricing his product? RESEARCH: What is a pioneer advantage? Describe…candlewood suites hotels What pricing options/ approaches does the organization utilize or promote?
- _____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 PricingWhat are the major price implications of the PIMS studies?Suggest possible explanations for the relationships the PIMSstudies reveal.A retailer has one opportunity to purchase a holiday gift basket. The retailer buyseach basket for $10 and sells each basket for $25. Baskets left at the end of the season aresold to a discounter for $1. What is the underage cost?
- Being at the premium end is a category upon itself.Describe the indicators of premiumness or high quality andhigh price that can apply to most types of products.WHICH FACTORS INDICATE THE POSSIBLE LOWEST AND THE HIGHEST PRICE THAT CAN BE SET ON A PRODUCT? a. THE NEWNESS OF A PRODUCT AND ITS AVAILABILITY b. FIXED COSTS AND CUSTOMER'S PERCEPTION c. COMPETITORS' PRICES d. THE DEMAND FUNCTION e. NONE OF THESEBeing 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 products
- 19/_____________ leads to under-costing of certain products and over-costing of other products. a. Cost disturbance b. Cost distribution c. Cost subsidization d. Cost smoothingShould discounts be applied to products that are also in high demand? Justify!List the general approaches to pricing. Select examples of products that you regularly use. i. Notice the price of each of these items For each item, ii. State the main benefits you are looking for in using the product. iii. Does the price communicate the total benefits sought? iv. Does the product’s price suggest good value? v. Do you think the manufacturer or retailer is overcharging or undercharging consumers for the product?