One way of wading off competition is for Take-a-lot to tactfully adjust prices to their advantage. Discuss how Take-a-lot can implement price adaptation tactics to maintain its competitive edge.
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it is from past exams, please help me in doing my homework
One way of wading off competition is for Take-a-lot to tactfully adjust prices to their advantage. Discuss how Take-a-lot can implement price adaptation tactics to maintain its competitive edge.
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- Discuss the relationship of price to value. Does a low price necessarily mean a better value? Give an example to illustrate your opinion. How can a firm offer good value in a mature market where price seems to be the only visible means of differentiation?What is price elasticity? Why is it important for marketers to consider price elasticity when making pricing decisions?What is price elasticity? Why is it important for marketers to consider price elasticity when making pricing decisions? (AACSB: Written and Oral Communication; Reflective Thinking)
- Describe the concept of price elasticity! Why it is for a monopoly less profitable to act inmarkets with high price elasticity? What can a monopolist or a firm with market power do, inorder to increase the profits? (use graphs)What is the best way Amazon can improve its ROA (and still keep its strategic fit)? what is the meaning of differential pricing. Find an online retailer who uses differential pricing for some of its products. Include screenshots of the retailer website showing differential pricingUnder what environmental conditions are price wars likely to occur in an industry? What are the implications of price wars for a company?
- Discuss the following for the Ebay Company: Select a single product for your firm and set a price according to multiple pricing approaches. For instance: Competition-based: Briefly supply the appropriate data and explain how your price relates (at-, above-, or below-the-market). Which of the methods do you believe most closely reflects your firm’s pricing method? Why?The pricing strategies of car dealers and airlines are somewhat unique and are examples of variable pricing. Unlike the price of most goods that remain static for some period of time, these two are example of pricing that fluctuates constantly. Two people may pay different prices for a car or an airline ticket on the same day. Please read the two articles below and answer the following questions in a short few paragraphs. How do the two differ in strategy and what drives this difference? Find an example of another good or service that is priced like automobiles or airline seats and explain the process. https://www.nerdwallet.com/blog/loans/dealers-set-car-prices/ https://www.farecompare.com/travel-advice/understanding-airline-ticket-prices-why-your-seatmates-airfare-cost-more-or-less-than-yours/i. Companies often adjust their basic prices to allow for differences in customers, products and locations. Use examples to illustrate the various forms of price adjustment strategies. In your answer, discuss where relevant the advantages and disadvantages of specific price adjustment strategies
- 1. Suppose you are an entrepreneurial company engaged in the manufacture of smart phones. What pricing strategy would you adapt that you believe would best serve your objective? Explain. 2. What department/unit in an enterprise (ex. operations, finance etc.) is the most difficult to manage? Support your claim.i. Companies often adjust their basic prices to allow for differences in customers, products and locations. Use examples to illustrate the various forms of price adjustment strategies. In your answer, discuss where relevant the advantages and disadvantages of specific price adjustment strategies Provide me answer as soon as possibleWhat are some ways that a company's marketing mix might give it a competitive edge? How can a company benefit from a well-executed marketing strategy? Why is it necessary to acknowledge the significance of the marketing mix in the formulation of marketing strategies? For the entrepreneur, which pricing scheme makes the most sense? Explain your answer. What are the most important considerations to keep in mind when choosing a location? Can I use what I've learned here when I start my own business in the future? In the event that you were granted the opportunity to start your own business, what would you sell and where would you sell it? What marketing strategies do you have in mind?