Q: What is the difference between a Variable Pricing Strategy and a Price Lining Strategy? Under what…
A: For any business it is important to set the best price for its product or service. While selling a…
Q: Cost plus pricing is a logical method of pricing since it takes into account current demand,…
A: Cost plus pricing is a pricing strategy in which the price of the goods which is to be sold is…
Q: Legal and Ethical Issues on Pricing Policies & Practices 1.Select a current legal and ethical…
A: Since you have posted more than one question we will solve the first three interlinked questions for…
Q: What are different factors that should be considered by marketers before deciding price of the…
A: The price a business charges needs to take account of, and be consistent with, the objectives of the…
Q: Define captive-product pricing and give examples. What must marketers be concerned about when…
A: Captive-product pricing omes under the domain of pricing technique of the firm. It gives the…
Q: How to Choose a price strategy to help determine a base price?
A: Price is mainly a psychological concept where it acts as a perceived value in the eyes of the…
Q: HOW WOULD THIS MARKETING CONCEPTS AFFECTS THE PRICING STRATEGY OF THE COMPANY?
A: Holistic marketing plays a prominent role in the organization as has various benefits associated…
Q: Explain in your own words and also give examples of how price gouging is harmful for the customers…
A: Quality management is a process of controlling or managing the quality of the product so as to…
Q: How can the three main approaches to service pricing be used to come to a good pricing point for a…
A: Some marketers enter into the market by offering services to the customers. These marketers offer…
Q: What is meant by pricing? Describe any three strategies that can be done by firms if they do not…
A: Pricing strategies refer to the marketing strategy which is used to determine the prices of products…
Q: In cost-based pricing. price is considered along with all other marketing mix variables before the…
A: In pricing decisions, there are several considerations. In cost-based pricing, the cost of…
Q: Describe the basic market forces that are relevant to pricing and decision-making for companies.…
A: Pricing is an important parameter which governs the purchase decisions of the customers. Pricing…
Q: ist the general approaches to pricing. Select examples of products that you regularly use.…
A: Price is the monetary worth assigned to a product or service. It is the result of a complex…
Q: As a CEO of an airline company what pricing strategy would you employ for high season and low season…
A: Pricing strategy depends upon the contextual events in which flights operate
Q: What does ͞price mean and what are the objectives of pricing? What is the pricing procedure? What…
A: Disclaimer: Since you have posted a question with multiple sub-parts, so we will solve first three…
Q: Tell about pricing. More precisely, write what the companies should take into account when doing…
A: Pricing is the process of setting or deciding the price of a particular product. Pricing is the…
Q: The most effective pricing strategy to use when there is a brand new product in the market?
A: Pricing strategy can be explained as technique which helps the company to price its products or…
Q: In one question Explain the pricing factor of competitive pricing why does what the competitor…
A: The process of evaluating strategic price points to best take advantage of a product or…
Q: why are ethical concerns important issues when designing service pricing and revenue management…
A: Importance of ethics when designing service pricing : To ensure that companies not only work for…
Q: n pricing a product cost work as a floor and customer perception of the value of a products works as…
A: value-based pricing can be defined as a strategy for pricing goods or services that adjusts the…
Q: Cite three (3) pricing strategies that companies or firms implement. Discuss the circumstances or…
A: The three pricing strategies are penetrating, skimming, and following. Penetrate: Setting a low…
Q: A business has significant costs in the development stage of a new product prior to launch as well a…
A: A business has significant costs in the development stage of a new product prior to launch as well a…
Q: Briefly explain what assessments a business manager must take in connection with pricing of…
A: Pricing is how a company determines the price at which a product or service is sold and is often the…
Q: 3 current brands and key models of mobile phones. For each identified brand and model, determine…
A: Three famous brands of mobile are Samsung apple and real me. The details are discussed as follows-…
Q: Subject: Pricing Strategies If your item cost P10 and you apply 60 percent mark-up, what would be…
A: Cost of the item= 10 Mark up percentage = 60 The price of the item will be= 10*60/100 =6…
Q: Develop 4 separate pricing policies for companies? Explain when they will be more suitable for…
A: Price is more of a psychological concept where it acts as a perceived value in the eyes of the…
Q: explain and give an example of cost-plus pricing, targetcosting, and yield management pricing
A: Pricing is the process where the organization sets the prices of its product or services which are…
Q: How does cost-plus pricing strategy affect the company's performance and how they benefit from this?
A: Business strategy can be defined as the plan that is prepared by the top management of an…
Q: Once a company determines a base price, a series of price tactics are often offered to help…
A: Pricing relates to setting up the price for a product or service. Pricing is a part of the marketing…
Q: Retailers typically use two basic pricing strategies. Explain the advantages of the two pricing…
A: Any company that sells products to customers must consider retail pricing. After all, buyers…
Q: Explain how a firm can increase its profit by price discriminating. How does it determine optimal…
A: Price discrimination can be referred to as the selling strategy where the seller sells the same…
Q: In pricing a product cost works as a floor and customer perception of the value of a product works…
A: In pricing a product cost works as a floor and customer perception of the value of a product works…
Q: First review the topics below and select one. Once selected, include the concept, a description of…
A: The product life cycle is the process of the length of time from the product being introduced to…
Q: The airline industry alters the price of its seats based on the type of seat, the number of seats…
A: Dynamic estimating (or dynamic value segregation) is widely concentrated in the aircraft business…
Q: You have recently been appointed as the Marketing Manager of a Dog Grooming Business. The leadership…
A: Pricing strategies refer to the marketing strategy which is used to determine the prices of products…
Q: .In pricing a product cost works as a floor and customer perception of the value of a product works…
A: In pricing a product cost works as a floor and customer perception of the value of a product works…
Q: Lately, customers have become more price conscious, so companies have changed their pricing…
A: Pricing Strategies It is a strategy used by businessmen to sell their products and services. The…
Q: Briefly explain, and provide an example of, the four types of markets companies must consider for…
A: A market gives the platform to buyers to purchase products that they need and sellers to sell…
Q: Discuss 2 internal factors and 2 external factors that can impact the pricing decision of a company?
A: Disclaimer: Since you have asked multiple question, so as per the company guidelines, we can solve…
Q: Explain the unethical issues of Marketing in Pricing (Price Gouging and Price…
A: The unethical issues of Marketing in Pricing are:
Q: What is the relationship between gross variable costs, total fixed costs, average variable costs,…
A: As the cost driver increases and vice versa, the following changes occur:
Q: What is the difference between variable cost and fixed cost?
A: The variable cost is the cost that is not constant or the same for a producer. The variable cost…
Q: When maintaining an effective costing system, why is it important to conduct regular competitive…
A: The cost system of the business ensures that the budget related to product development and marketing…
Q: Identify and describe this mobile phone’s (any mobile phone) pricing objective (pricing objective…
A: Smartphones have become a commodity, almost all the firm in a particular price range offer similar…
Q: Explain the term target costing?
A: Target costing- It is not only a technique of costing, but also a managerial technique in which…
the decision-making process for Target costing and Cost-plus pricing should be described in detail
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- Price is an important element of the marketing mix. Create a word response to the following, * Describe the importance of pricing in the marketing mix * Describe three different pricing strategies and provide a real-life example of each in action. * Suggest another strategy that would have worked better. * What are the steps that need to be followed for developing the pricing of a new product? Can these steps be interchanged? Why?A business has significant costs in the development stage of a new product prior to launch as well a high number of decommissioning costs at the end of the product’s life. Which method of costing would be most suited for the business to ensure that all of the costs associated with the product are considered in arriving at a pricing strategy to help achieve profitability over the product’s life? A Activity based costing B Target costing C Marginal costing D Total lifecycle costingWhen making and evaluating pricing decision, managers must consider many factors, some of those factors related to external market and other related to internal constraints. What are these factors? (Minimum 3 factors)
- Describe the basic market forces that are relevant to pricing and decision-making for companies. Include the following: What information would you want to have in order to make sound pricing decisions? With financial information, there is often some level of uncertainty and estimation. How would you explain any risk or uncertainty about information to senior management? How would you suggest monitoring and responding to competitors' pricing actions?What are the critical factors to consider when choosing a pricing strategy for a new business model or product?What is the difference between a Variable Pricing Strategy and a Price Lining Strategy? Under what circumstances would each be used?
- Price Analysis: market-driven pricing models 1. Describe the process of market-driven analysis and explain when it would be a useful tool. 2.Describe life cycle costs and the value of the life cycle cost method? Cost analysis: 3.Define the major types of cost? 4.What is breakeven analysis? 5. Define target pricing and describe when to use such a tool.Explain the term target costing?How do companies determine their target profit margin when using profit-oriented pricing?
- Lately, customers have become more price conscious, so companies have changed their pricing strategies to emphasize value. Identify the pricing methods adopted by these companies.Marketers may choose from various pricing strategies when selling a product or service. a) Identify and briefly explain five pricing strategies. b) What factors should be considered before selecting the best pricing strategy?First review the topics below and select one. Once selected, include the concept, a description of the concept, and what about the concept you understand and what it is about the concept that can be confusing. How pricing objectives should guide strategy planning for pricing decisions. Setting the price level for a product in the early stages of the product life cycle. Variations of a price structure, including discounts, allowances, and who pays transportation costs. The role of price in obtaining a competitive advantage by offering target customers superior value. The legality of price-level and price-flexibility policies. How most wholesalers and retailers set their prices by using markups. Advantages and disadvantages of average-cost pricing. How to use break-even analysis to evaluate possible prices. The advantages of marginal analysis and how to use it for price setting. Demand-oriented factors that influence price setting. Elements of the marketing strategy planning process…