How does the purchasing ability of consumers influence the pricing system deployed by businesses?

Q: Explain how companies find a set of prices that maximises the profits from the total product mix?

A: Product mix refers to the the total number of product lines that the company provides to its…

Q: Explain the price-demand relationship. What factors must sellers consider when setting prices in…

A: The relationship between demand and price is as follows: If the price of the commodity is low, then…

Q: What is the price at which the product is starting tobe perceived as expensive?

A: Pricing refers to setting a price for a product or service at which it will be sold in the market…

Q: explain  What is total cost ownership? base on this image

A: Introduction:- Total Cost of Ownership is a concept i.e. used to evaluate the direct and indirect…

Q: Why should a marketer be aware of competitors’prices?

A: A person who is responsible for creating a connection between a consumer and the product is known as…

Q: What are the three alternative price increase strategies?

A: Following are three alternative price increase strategies:   Premium pricing: It includes…

Q: What are the factors that affect your purchasing behavior and choice?

A: Consumers' purchasing behavior refers to the behavior displayed by the people while buying products…

Q: Sellers can influence or use consumers' reference prices when setting their product prices. * True

A: Sellers can influence or use consumers reference prices when setting their product prices.

Q: Choose a product that you patronize, examine well the characteristics of your chosen product and…

A: we have chosen a product such as some ovens include features such as self-cleaning, smooth…

Q: the eight stages for establishing prices

A: The price is defined as the amount which is expected for the exchange of a product or a service. The…

Q: Discuss how the target cost concept of setting selling prices differs from the cost-plus approaches?

A: Target costing determines if a project will be profitable by calculating a predefined cost of…

Q: What is the Importance of Price?

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

Q: Given that there is a serious disadvantage to cost-based pricing, how would you account for its…

A: Before we proceed with answering the question let us first know the meaning of terminologies used…

Q: Why setting prices for business products is different from setting prices for consumer products?

A: Prices are the monetary value side by the company on the products and services as a part of exchange…

Q: • What is the role of price in an organization's marketing plan? 1. Profit 2. Sales 3. Market share…

A: A marketing planning refers to plans which are made by the firm in order to capture lather makey…

Q: Describe the cost-plus pricing method and discuss why marketers use it even if it is not the best…

A: The cost-plus pricing method is also called markup pricing, this practice is done by a company to…

Q: Do consumers influence the pricing system deployed by the businesses?

A: The price of the product is decided by the business, but the fluctuations caused in the price of the…

Q: What is the role of price in marketing

A: Price is more of a psychological concept where it acts as a perceived value in the eyes of the…

Q: What is the Effect of Price?

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

Q: what is the difference between direct cost and product cost

A: Product Cost: Product costs are the direct charges concerned in producing a product. A producer, as…

Q: Why is it difficult to control cost related to marketing?

A: in general, marketing costs are simply the costs brought about in advancing your trade. Customarily,…

Q: How do marketers use psychological pricing to communicate something about the product?

A: Psychological pricing is one of the pricing strategies where the marketers play with the minds of…

Q: What are the four categories of marketing activities, usually referred to as the marketing mix? In…

A: The main 4 P's of marketing are product, price, promotion, place.  Product - Goods or service Price…

Q: What is the price at which the product becomes tooexpensive for the target market?

A: A product can be referred to any object or item that has some worth and is on sale. Just like goods…

Q: Define direct costs and indirect costs. Why do managers consider direct costs to be more accurate…

A: Cost is the monetary value spent on producing a product or a service. It does not include the…

Q: Are consumers likely to respond to in-store price reductions?

A: Retailers is the individual or group business operations where they close work with customers by…

Q: What are the various pricing techniques that a company may use to alter market patterns?

A: A company's pricing policy is the approach it uses to sell its goods in the industry. The below are…

Q: How street foods initiating price actions?

A: The pricing is the methods where business are seen as making evaluation of different market factors…

Q: How do the pricing strategy, environmental forces, business practices, and cultural values…

A: Marketing is the process to create exchange with the customers. It is a primary activity for any…

Q: Discuss how companies adjust their prices to take into account different types of customers and…

A: Pricing is the process of setting the price of the product and service at which the company wants to…

Q: What does Marketing or selling costs include?

A: The process of creating new products, exchanging and communicating the ideas, delivering the…

Q: How does a Blue Ocean Company succeed in creating cost effective products for consumers?

A: A blue ocean company refers to a company that introduces new products in the market to beat the…

Q: What is the Cost Determinant of Price?

A: The accomplishment of any business element is basically dictated by its productivity in the long…

Q: What is the difference between basic, producers'and purchasers' prices?

A: Price is the value that is placed on a product or service and is that the result of a complicated…

Q: What other issues beyond the market and the economy must marketers consider when setting prices?

A: Factors to consider when setting price Pricing is one of the most challenging aspects of running a…

Q: Consumers are attracted with products that offer discounts on price, buy-one-take-one scheme and…

A: The promotional schemes lure the consumers by appealing to their psychology behind purchase…

Q: Why is Pricing always an important aspect of marketing?

A: Pricing is the strategy that enable businesses to achieve success and growth with higher sales…

Q: What is the reason that sometimes buyers equate price and quality?

A: Price: It demonstrates the amount endowed by the users (customers) for purchasing a particular…

Q: Islamic theory of Prices

A: The market theory, also known as "price theory," is a microeconomic philosophy that uses supply and…