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- 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?Review the various types of pricing strategies. Which of these is the most appropriate for PlayStation products?Which pricing strategy (or maybe a combination of strategies) is best for your product/service? Why? How did you come to this conclusion? What price will you offer your product(s) or service for exactly? Will you use any promotional strategies?
- What Is the man (most Important) way that Cost-Based Pricing is different from Customer Value- Based Pricing? Please use no more than 2 bullet points for your answer.What are the five key price methods categories? Provide at least two explanations of unique techniques within each group.All of these are examples of pricing objectives except which? Multiple Choice social responsibility market share unit sales product obsolescence survival
- Which pricing objectives will you use for your product? Consider the product life cycle, competition, and product positioning for your target market during your discussion. PlayStationWhy might penetration pricing potentially negatively impact brand image and product positioning in the long run? Given this risk, why would a marketing manager use penetration pricing? Identify a brand that you believe is engaged in penetration pricing.How does bundle pricing impact consumer purchasing behavior and overall market efficiency compared to individual item pricing? Give a nice detailed answer
- Explain why might strategy for setting a product's price need to be changed when a product is part of a product mix? What are the five product mix pricing strategies? Provide an example for each?in terms of marketing how would you identify and discuss the important internal and external factors affecting a business’s pricing decision. Use examples to illustrate your answer