QUESTION 1 Due to the fluctuation in the US dollar currency, the prices for commodities in Namibia are changing too because most of the goods are imported and the means of payment is US dollar. This has affected many businesses because they have to change their prices too, but if one changes prices anyhow, they may lose clients or make losses. Assuming that you are a business person and this trend is affecting you; explain 5 pricing strategies you may use to price your goods.
QUESTION 1 Due to the fluctuation in the US dollar currency, the prices for commodities in Namibia are changing too because most of the goods are imported and the means of payment is US dollar. This has affected many businesses because they have to change their prices too, but if one changes prices anyhow, they may lose clients or make losses. Assuming that you are a business person and this trend is affecting you; explain 5 pricing strategies you may use to price your goods.
Principles Of Marketing
17th Edition
ISBN:9780134492513
Author:Kotler, Philip, Armstrong, Gary (gary M.)
Publisher:Kotler, Philip, Armstrong, Gary (gary M.)
Chapter1: Marketing: Creating Customer Value And Engagement
Section: Chapter Questions
Problem 1.1DQ
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QUESTION 1
Due to the fluctuation in the US dollar currency, the prices for commodities in Namibia are changing too because most of the goods are imported and the means of payment is US dollar.
This has affected many businesses because they have to change their prices too, but if one changes prices anyhow, they may lose clients or make losses.
Assuming that you are a business person and this trend is affecting you; explain 5 pricing strategies you may use to price your goods.
QUESTION 2
Royd Joe is an entrepreneur, to do proper planning for his business, he has to take into account of both economic and business factors into considerations. Using Economic and Business forecasting, he should be able to predict trends in his business both in the near future and long run.
Differentiate between business forecasting and economic forecasting.
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