Explain the Demand Determinant of Price?

Q: Explain everyday low prices (EDLPs).

A: Price is the monetary value paid for a product in a marketing exchange. It could also be things you…

Q: Social media become more toxic environment in the Philippines because... Give 3-5…

A: In the Philippines, social media has become a more poisonous atmosphere because... Social networking…

Q: What is meant by reference pricing?

A: The price a seller charges needs to consider, and be consistent with, the objectives and costs of…

Q: elect one: True False

A: Creativity is something which is learnt from experience, right throughout the life a person learns…

Q: How product life-cycle leads to new product development?

A: Marketers, executives, and designers all benefit from understanding the product life cycle. It…

Q: To whom the Malcolm Baldrige National Quality Award was given?

A: Quality is a vital factor in the service and product business. Without conforming to quality, any…

Q: What steps are involved when implementing the marketing concept?

A: Marketing concept refers to utilizing of marketing data, in order to concentrate on satisfying the…

Q: What is a brand extension?

A: Branding is undertaken for the purpose of building and creating an identity for the business or…

Q: Define product line.

A: Companies create product lines as a marketing strategy to capture sales from customers who already…

Q: • Assume that you need to do a market research before launching a “car service at doorstep” business…

A: Qualitative Data Collection: It's about people's perceptions, thus qualitative data is descriptive…

Q: What are the five levels of needs in Maslow’s hierarchy? How are a person’s needs related to…

A: Maslow's Hierarchical needs concept was suggested by Abraham Maslow and is known to be one of the…

Q: Why is selecting a supplier important?

A: Distribution channel implies about entire procedure that deals with making products available to…

Q: Elaborate on which tools you would use to analyze website traffic and briefly outline the various…

A: The practice of recording, analyzing, & documenting data to gauge online traffic, together…

Q: Assume that you need to do a market research before launching a “car service at doorstep” business .…

A: Questionnaire for Fresh research about "Car Service at Doorstep" will be made simple and straight.

Q: Name the three types of inventories for which operations managers are concerned.

A: Inventories can be defined as any assets ie resources capable of generating future economic benefits…

Q: What are the objectives of pricing?

A: Pricing is said to value or price which is attached to the product and at which it would be sold to…

Q: What is meant by the allocator?

A: The operating employee is a resource allocator. An allocator or a resource allocator is a vital…

Q: What are the major reasons for conducting marketing research?

A: Marketing research is performed by marketers in order to bring different solutions for business or…

Q: Differentiate allowance discounts and seasonal discounts.

A: The discount and allowance facility is particularly important in the selling and distributing of…

Q: What is meant by the term Adjourning?

A: Communication is very important in every field. It has to transfer ideas and thoughts between people…

Q: Which of the habits refer to the mission statement? (a) Think win-win (b) Begin with the end in mind…

A: A mission statement is a precise statement that explains why an organization exists, the customers,…

Q: Why production capacity is important for a manufacturing business or a service business?

A: Marketing and manufacturing are the primary activities of the company. Company will create value for…

Q: It is dangerous for the international marketer to make generalisations about consumer behaviour in…

A: Why understanding Cultural difference is important? Cultural differences is one of the most…

Q: What are the conditions that a product undergoes to be effective?

A: Product is a tangible tool which is used by customers to achieve their desired goals. It is created…

Q: Discuss the meaning of marketing.

A: The activities of a business related to the purchase and sale of a product or service are referred…

Q: What was the purpose of the Americans with Disabilities Act (ADA)?

A: A person must have a physical or mental impairment that significantly limits one or more major life…

Q: Identify and describe the six steps of the marketing research process.

A: The issue depiction, development of an arrangement to the issue, detailing of a think about the…

Q: State disadvantages of price skimming?

A: Pricing strategy is said to process and action is plan required to set effective price for the…

Q: elect one: True

A: Creativity is something which is learnt from experience, right throughout the life a person learns…

Q: identify whether you think exploratory, descriptive or causal research would be the most…

A: Causal research Causal research, generally known as the research method, investigates whether two…

Q: Under what conditions does product modification work best?

A: The reasons why a company may decide to change or modify existing products are: • To change in…

Q: What is meant by the term commission?

A: A fee is paid by a principal to a third party who acts as its agent, mediator, or salesperson. A…

Q: What is product differentiation?

A: Product differentiation is a marketing strategy that encourages consumers to select one brand or…

Q: What is meant by comparison discounting?

A: Determining the present value of a future payment or stream of payments is known as discounting.…

Q: Differentiate demand-based pricing and cost-based pricing.

A: There are several methods for calculating the most appropriate price for a product or service. Some…

Q: Explain the term Profit-sharing.

A: Corporation is a business ownership structure which ensures company attains distinctive identify…

Q: How does the state of competition among hotels indicate where this category is in the product life…

A: The market competition states about intensity of rivalry among related and un related firms present…

Q: What is the Cooperative Relationship Strategy of Tesla?

A: Success for any organization is unattainable only based on a good quality product. Yes, No matter,…

Q: How do brands help customers in product selection?

A: A particular brand is a name, symbol, design or any word which distinguish the product from the…

Q: An effective policy to reduce a trade deficit in a small open economy would be to:

A: D) is correct answer. Increase taxes . An effective policy to reduce a trade deficit in a small open…

Q: Define the following. Natural Resources, in entrepreneurship - Human Resources, in entrepreneurship…

A: Entrepreneur is said to people who have good vision and a creative idea to start a business and grow…

Q: What is revenue?

A: A business has to incur several expenses to earn revenue. The costs can be either direct or indirect…

Q: Why must firms introduce new products?

A: The development process of product is strategy in which firms make improvements in products quality,…

Q: 1. Pearls are versatile, suitable for all formal gatherings, day or night, which make them a "must"…

A: Due to strict adherence to the guidelines of Bartleby, while answering the question, we are allowed…

Q: How is recruiting different from external recruiting?

A: The practice of actively seeking for, identifying, and employing candidates for a certain career or…

Q: Create an essay and give recent researches and evidences about " In the Philippines, social media is…

A: Social Media is the usage of online communication channels to socialise or communicate with each…

Q: The Ministry of Tourism has no need for marketing research? Critically discuss this statement.

A: Research is backbone for every successful event or action. Tourism too needs Research for better…

Q: Discuss the importance of pricing decisions to the economy and to the individual firm?

A: Price is important because it can influence whether or not a customer buys a product. After all,…

Q: State your general findings that you can use in creating a product. (Shark Tank Review and Analysis)

A: How to develop a new product When you start to develop a new product, it's best to start with a…

Q: Why consumer confidence is an important element in the success of a branded product?

A: Consumer confidence is a statistical measure that captures consumers' perspectives on current and…

Customary Pricing

There are various types of pricing strategies followed in the market. They are psychological pricing, odd pricing, free onboard pricing, customary pricing, prestige pricing, dual pricing, ruling pricing, negotiated pricing, mark up pricing, etc. each one can be explained as follows: 

Multiple Unit Pricing

“Multiple-unit pricing is a practice where a company offers consumers a lower than unit price if a specified number of units are purchased.”