Explain how the mechanism for the application of three types of price discrimination that can be effective from a firm's point of view in order to maximize its profit. You are required to provide examples to show how this can be done.
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- 4- The agreement among manufacturers or among wholesalers to fix the price is called __________. a. Item price removal b. Price discrimination c. Horizontal price fixing d. Vertical price fixingWhat are the most important risks managers face if they sign an agreement with their competitors which sdpecifies the prices the firms will charge? a. They may go to prison or face a serious fine. b. Other firms may ignore the agreement. c. Other firms in the industry may retaliate. d. Their elasticity of demand will be less elastic at the higher price. e. There is no important risk in signing such an agreement and it will lead to larger profits.Discuss the different types of price discrimination and how they help the firm increase their profits?
- This gives an opportunity to explore direct and indirect price discrimination within the context of a hypothetical scenario. 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. 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. Why will both groups of customers be satisfied with the deal?Product should have exchange value and must be capable of being exchanged between seller and buyer for a mutually a. Agreed price b. Exchange Value c. Value satisfaction d. None of these.When people buy new products and register them for warranties and other benefits, product-registration Web sites often ask visitors and purchases to provide their e-mail addresses and other personal information. How could firms use this information to aid their efforts to engage in price discrimination? Through this information what kind of price discrimination could the firms engage in?
- Bridgestone Corporation, the world’s largest tire and rubber producer, recently agreed to plead guilty to pricefixing along with 25 other automotive suppliers. What is price-fixing? Discuss other recent examples of pricefixing.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?Bridgestone Corporation, the world’s largest tire and rubber producer, recently agreed to plead guilty to pricefixing along with 25 other automotive suppliers.s price-fixing? Discuss other recent examples of pricefixing.
- 1. One way to support a charge of ____________ against a company would be to prove that they sold a product or service to different business buyers at two or more prices that did not reflect a proportional difference in costs. a. psychological pricing b. price discrimination c. product-form pricing d. customer-segment pricing e. loss-leader pricing 2. An industry-leading high-tech company just announced that it was cutting its prices and would price its products at whatever level was necessary to protect its market share. This is evidence of a ________ pricing objective. a. target return b. sales-oriented c. status quo-oriented d. non-price competition e. profit maximizationCompany A uses a pricing approach where the initial price for a product is set high and then lowered, and Company B uses an approach where initial prices are set low in an effort to gain market share. What terms best describe these practices? • Company A – Predatory; Company B – Skimming • Company A – Penetration; Company B – Predatory • Company A – Skimming; Company B – Penetration • Company A – Skimming; Company B – Predatory • Company A – Predatory; Company B – PenetrationSome people believe price discrimination is unfair; others think it “levels the playing field” by adjusting price to people’s ability to pay. Explain an opinion why price discrimination is fair by adjusting prices for people to pay.