is this statement true or false? Dennis determines that a new blinking slinky toy will cost his firm $3.50 to produce. He adds 20 percent the manufacturing costs and prices the product at $4.20. This is an example of cost-plus pricing.
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is this statement true or false? Dennis determines that a new blinking slinky toy will cost his firm $3.50 to produce. He adds 20 percent the
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- 7 ? Which of the following is true of the price equation? ? ?Extra fees are not part of the price equation ?The amount paid by customers is always the same as the quoted price ?Sellers subtract the add-on charges from the list price ?Customers are more inclined to pay additional fees than a higher list price 8 ?What is the difference between a marketing plan and a business plan? ?A marketing plan addresses the financial projections of an organization, whereas a business plan does not A marketing plan contains a description of an organization, whereas a business plan does not contain any description A marketing plan deals with marketing actions, whereas a business plan addresses the entire organization ?A marketing plan contains details on operations, research, and manufacturing, whereas a business plan does not 9 ?What must an organization use to determine its position respective to the competition during the new-product strategy development stage? ?SWOT analysis and environmental…The airline industry alters the price of its seats based on the type of seat, the number of seats remaining, and the amount of time before the flight departs. This is example of: Select one: a. Basing-point pricing b. Zone pricing c. Dynamic pricing d. FOB-origin pricing Which of the following statements is correct? Select one: a. If the prices of the product are below its costs, profits will boost. b. The pricing strategy suggesting value to the customer and profit to company should be followed. c. If customers perceive that the product is over-priced, they are keener to buy it. d. If customers perceive that a product’s price is lower than its value, they will not buy it.You are in the process of planning a hypothetical airline flight from New York to St. Louis. Visit the websites of three differentairlines and compare prices for this trip. Try travel dates that include a Saturday night layover and those that do not. Try dates lessthan seven days away, and compare, those prices with flights that are more than twenty-one days out. How do you explain thesimilarities and differences you see in these prices?
- The management of a firm wants to increase their firm’s market share by 50% within the next three years. To accomplish this goal, they determined a competitive pricing strategy. Name of the management function: Reason:If the unit selling price is P16, the unit variable cost is P12, and fixed costs are P160,000, what is the break-even sales (units)?5- Airlines are known to jack up fares when peak travel season approaches, and they typically run their fare sales around slow seasons. This is an example of a ________ pricing strategy Group of answer choices everyday low pricing (EDLP) uniform premium high/low 6- Which of the following is NOT a goal of informative advertising? Group of answer choices inform customers about upcoming sales increase awareness explain how the product works build company image 7- A pricing strategy is Group of answer choices using one-time seasonal discounts to reduce inventory. a short-term approach to setting prices a long-term approach to setting prices in a companywide integrated effort using slotting allowances to gain access to distribution channels 8- I mentioned that the main tasks of advertising are to inform, remind, and persuade. At which stage of the product life cycle should the advertising focus on informing? Group of answer choices decline maturity…
- Assume you are the finance officer of a private school; due to pandemic the revenues are declining. However, you suspect that raising tuition might not be a good decision. What internal and external pricing factors should you consider before deciding? Support your answer with an examplePrices are often set to satisfy demand or to reflect the premium that consumers are willing to pay for a product or service. Some critics shudder, however, at the thought of $2 bottles of water, $150 running shoes, and $500 concert tickets. Take a position: Prices should reflect the value that consumers are willing to pay versus prices should primarily just reflect the cost involved in making a product or service.Pricing Q: What are different factors that should be considered by marketers before deciding price of the product? Q: How the total cost is determined/calculated by company for deciding price of the product? Q: What is breakeven point? How is it calculated? Q: How the net profit is calculated? Q: write the following procedures and formulas for calculating price? a. Cost Plus pricing b. Breakeven pricing c. Return on investment pricing d. Value based pricing Q: Write the methods for determining pricing of new products?
- What profit-based pricing approach should a manager use if he or she wants to renect the percentage of the firm"s resources used in obtaining the profit?Just ANswer the Number 2! Here is the Answer for the Number 1. Markup price: - It is defined as the difference between cost price to make building and the price charged from customer. Markup price is simply a price that is added to actual price of construction. Any building or industrial contractors prefer markup pricing method because it sets prices for goods which will give profits to contractors. It is very useful for products whose price varies frequently. Markup pricing strategy is easy to calculate reason behind that is it consists simple equation which eliminates confusion in pricing the products. Also, it is very fast and error free with respect to other methods. With the help of markup pricing method contractors can recover labor or other price easily. Markup price is useful for bulk pricing. For example- One has to do pricing of hundreds products then just set a profit percentage on each products which will save the decision making cost.For the following scenarios, suggest a pricing strategy and justify why that strategy is most suitable for that business. (penetration, economy, price skimming, psychological, premium, competitor, cost plus) Scenario 1: Corey has just launched an online business selling customised hoodies. The hoodies are high quality and made uniquely for each individual customer. He sells them solely online through his Shopify store. Scenario 2: Jasmin has a well-established coffee shop in her local area that has a strong reputation. Due to her strong reputation Jasmin has developed an ice cold coffee drink in a can. She has just secured a deal to supply local grocery stores and garden centres with her new product. Scenario 3: Ellie writes eBooks for people in business and has a very reputable name but is branching out to follow her passion of writing eBooks for children. This is a highly competitive market where her name as an author is not known. For…