Price matching is a strategic move that A- seeks to make cheating unprofitable. B- must generally be announced publicly in order to have the desired effect. C- has no usefulness to managers if a simultaneous pricing decision is going to be made only one time. D- both a and b E- all of the above
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A- seeks to make cheating unprofitable.
B- must generally be announced publicly in order to have the desired effect.
C- has no usefulness to managers if a simultaneous pricing decision is going to be made only one time.
D- both a and b
E- all of the above
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- In a repeated decision for which the present value of the benefits of cheating are greater than the present value of the costs of cheating, A. deciding to cheat is a value-maximizing decision. B.deciding to cheat is never a value-maximizing decision. C.None of the aboveJoe's search costs are $5 per search. He wants to buy a smart watch for his wife for Christmas, and the lowest price he's found so far is $300. Joe thinks 80 percent of the stores charge $300 for smart watches and 20 percent charge $200. Joe's optimal decision is to Multiple Choice continue to search for a lower price since the expected benefit of an additional search is $20, which exceeds his per-unit search costs. continue to search for a lower price since the expected benefit of an additional search is $80, which exceeds his per-unit search costs. stop searching and purchase a video player for $300. continue to search for a lower price since the expected benefit of an additional search is $100, which exceeds his per-unit search costs.Select three services ?one high in search attribute,one high in experience attribute,and one high in credence attributes. Specify what product characteristics make them easy or difficult for consumers to evaluate , and suggest specific strategies that marketers can adopt in each case to facilitate evaluation and reduce percieved risk .
- Respond to the question with a concise and accurate answer, along with a clear explanation and step-by-step solution, or risk receiving a downvote. Correct and incorrect answer explanationThe dollar amount that a manager would be just willing to trade for the opportunity to engage in a risky decision is known as , Multiple Choice marginal utility of profit. the certainty equivalent. expected utility of profit. opportunity cost.Multiple Choice A. Yes, because only $77,200 of profit is earned by serving only the daytime buyers. B. Yes, because only $137,200 of profit is earned by serving only the daytime buyers. C. No, because $240,000 of profit is earned by serving only the daytime buyers. D. No, because $300,000 of profit is earned by serving only the daytime buyers.
- Due to high accident rates in South Africa during the Festive season, the Road Accident Fund has issued a warning to government that the fund will be insolvent soon. Advise the Minister on the cost of insurance that can collapse the scheme.Respond to the question with a concise and accurate answer, along with a clear explanation and step-by-step solution, or risk receiving a downvote. Respond to the question with a concise and accurate answer, along with a clear explanation and step-by-step solution, or risk receiving a downvote.If the price match policy is a good idea, how widely should it be advertised? Explain. You woke up this morning to a troubling advertisement on TV: A+ Rental Cars' local competitor is discounting their economy rentals. After doing a little digging, you discover that your competitor has launched an aggressive advertising campaign, reducing the price on their economy line from $32.99 to $24.99. Based on your knowledge of previous pricing practices, you expect a similar price reduction across all vehicle types.
- A reserve price is a minimum price set by the auctioneer. If no bidder is willing to pay the reserve price, the item is unsold at a profit of $0 for the auctioneer. If only one bidder values the item at or above the reserve price, that bidder pays the reserve price. An auctioneer faces two bidders, each with a value of either $228 or $304, with both values equally probable. Without a reserve price, the second highest bid will be the price paid by the winning bidder. The following table lists the four possible combinations for bidder values. Each combination is equally likely to occur. On the following table, indicate the price paid by the winning bidder with and without the stated reserve price. Bidder 1 Value Bidder 2 Value Probability Price Without Reserve Price with $304 Reserve Price ($) ($) ($) $228 $228 0.25 $228 $304 0.25 $304 $228 0.25 $304 $304 0.25 Without a reserve price, the expected…A mobile provider has two types of deals. Currently the provider has 1 million customers, 65% of those have deal 2, and the rest have deal 1. A customer with deal 1, after in average 5 months, may either change the type of the deal (60% of cases) or leave the provider at all (the rest of cases). A customer with deal 2 may also leave the provider; it happens in average after 8 months of using deal 2. It is forbidden do change deal 2 to deal 1. Customers can make their decisions at any time. We assume also that those who left the provider do not return back. (i) Sketch the transition diagram and write down the generator matrix. (Keep time in months. Note that the state space here contains three states.)How many of the current customers are expected to have deals of type 2 in 6 months? (Round the answer to the nearest integer.)A reserve price is a minimum price set by the auctioneer. If no bidder is willing to pay the reserve price, the item is unsold at a profit of $0 for the auctioneer. If only one bidder values the item at or above the reserve price, that bidder pays the reserve price. An auctioneer faces two bidders, each with a value of either $39 or $104, with both values equally probable. Without a reserve price, the second highest bid will be the price paid by the winning bidder. The following table lists the four possible combinations of bidder values. Each combination is equally likely to occur. On the following table, indicate the price paid by the winning bidder with and without the stated reserve price. Bidder 1 Value Bidder 2 Value Probability Price Without Reserve? Price with $104 Reserve Price? ($) ($) ($) $39 $39 0.25 $39 $104 0.25 $104 $39 0.25 $104 $104 0.25 Without a reserve price, the expected price is…