Pricing is a critical component of any company’s strategy. Discuss some of the pricing strategies that a company might employ under various circumstances. Examples are allowable, following your discussion of the strategies. Ensure that you also discuss: Fixed and variable costs The nature of demand Economies of Scale
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- Pricing is a critical component of any company’s strategy. Discuss some of the pricing strategies that a company might employ under various circumstances. Examples are allowable, following your discussion of the strategies. Ensure that you also discuss:
- Fixed and variable costs
- The nature of demand
- Economies of Scale
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- a) It has been realised that the two concepts being the Pareto distribution of the customer base and the exchange spectrum, together they help one understand pricing strategy more effectively and in particular with regard to the effect of the Web on pricing for both sellers and customers.You are expected to briefly discuss the objectives of firms with regard to Pareto distribution. Where possible give examples. b) Briefly discuss comparison between modernism and post-modernism.ROPO, a model you have been familiar with where the majority of the customers in our country search the product online and purchase the product offline. You have been given a task to conduct training regarding the pricing models that prevails in the field of ecommerce marketing. Train your unwitting audience regarding these pricing models in detail so that they should know, how to earn money in the field of ecommerce.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/
- Using the image above explain which pricing strategy the image represents. •Discuss how price affects the value of the organization's products or services •Explain the primary factors to consider in pricing • Compare common pricing strategies • Explain price elasticity and how it can be used to set price • Explain the use of competitive bidding for B2B pricingJust 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.Compare and contrast research-based profitology pricing vs marked-up pricing strategy. As a seasoned sales consultant of marketing with the responsibility of pricing goods and services for a firm, discuss and explain the pricing strategy you used to price women’ summer straw hats that were expected April 27, but were recieved July 10, due to shipping discrepancy. Please be sure to provide examples to support your case for the pricing strategy used.
- Driving volume is a key pricing objective for many businesses. Name and give an example of a marketer that uses each of the volume-oriented pricing strategies (4 strategies and 4 different examples). On each strategy explain whether or not you believe the approach is effective? Why or why not?Companies use dynamic pricing to balance out supply and demand. False TrueWhat is the most effective price adjustment strategy for small businesses in highly competitive industries, and why do you believe it is the best approach? Which among the Product Mix Pricing Strategies do you think is the best to be used when you are in the food business? Why?
- Imagine that you are the manager of a large clothing company with market power that specializes in selling blue jean pants. 1) Choose two pricing strategies that were discussed in Chapter (Pricing Strategies for Firms with Market Power) that you would implement as the firm manager. 2) Explain how exactly you would implement these two pricing strategies in the real-world Please answer the 2nd part Expert Answer Step 1 "Since you have asked two questions, we will answer only first question for you. If you have any doubt, then repost the questions separately." Step 2 1) Market Power is the degree to which a firm can influence the price of an item by exercising control over its demand, supply, or both. Pricing strategies are aimed at finding a product’s optimum price, considering the various factors like market objectives, consumer demand, product attributes, price of competitors and market and economic trends. Firms with market power use different price strategies to…Compare JCPenney’s former traditional approach to pricing versus the “Fair and Square” pricing strategy. Discuss the advantages and disadvantages of each.Explain what is 'psychology pricing' and discuss three types of psychology pricing. Support your answer with an example how the psychology pricing had been implemented for each type.
