Principles of Marketing, Student Value Edition (17th Edition)
17th Edition
ISBN: 9780134461526
Author: Philip T. Kotler, Gary Armstrong
Publisher: PEARSON
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Chapter 11, Problem 11.3DQ
Summary Introduction
To discuss: The meaning for psychological pricing, the ways sellers use it with examples.
A pricing strategy considers portions, capacity to pay, economic situations, contender activities, trade margins and input costs, among others. It is focused at the characterized customers and against contenders.
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Under the concept of customer value-based pricing, explain Trader Joe’s success.
Describe the cost-plus pricing method and discuss why marketers use it even if it is not the best method for setting prices. (AACSB: Written and Oral Communication)
How do you create a 5-page informational brochure for a company like Walmart and will include the following, Role of pricing decisions on the overall company and marketing strategies, Value-based pricing (value-in-use and value-in-exchange), Price skimming and penetration, Management of international distribution channels and logistics, Mass customization, Five aspects of communication, Social media mix, Viral marketing as a viable marketing tactic that can deliver a positive return on investment (ROI)?
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Principles of Marketing, Student Value Edition (17th Edition)
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Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, marketing and related others by exploring similar questions and additional content below.Similar questions
- How do you create a 5-page informational brochure will include the following, Role of pricing decisions on the overall company and marketing strategies, Value-based pricing (value-in-use and value-in-exchange), Price skimming and penetration, Management of international distribution channels and logistics, Mass customization, Five aspects of communication, Social media mix, Viral marketing as a viable marketing tactic that can deliver a positive return on investment (ROI)?arrow_forwardDoes Trader Joe’s employ good-value pricing or value- added pricing? Explain.arrow_forwardWhat pricing strategy wouldyou propose for Glitzz? What costs and expenses would be involved? Given your recommended price, what would be the break-even point?arrow_forward
- Choose a consumer product with which you are familiar. For that product, discuss its pricing strategy. What other strategies could work for that product? Did the company use cost-plus, full-cost, or incremental cost in its strategy?arrow_forwardHow can you attack Walmart because of its aggressive pricing actions? Note: By believing that Walmart forced a new kind of shopping experience upon a community and robbed them of a way of shopping they used to have (international hypermarket replacing local independent businesses). You should argue that a way of shopping that has been eliminated from the community by Walmart was a better way of shopping. (give your reasoning for believing that Walmart is wrong).arrow_forward1. what is value pricing2. Why did AA introduce it and what results did it expect from this plan? 3. How are consumers likely to react to these changes4. What is the likely reaction of competitors? In the face of a likely competitive reaction, what should AA do?arrow_forward
- Common Pricing Strategies: 1.Value-based pricing2.Competitive pricing 3.Price skimming4.Cost-plus pricing5.Penetration pricing6.Economy pricing7.Dynamic pricing Question: Among the different types of pricing strategy, what do you think is the most effective and has factual basis? Explain briefly. Thank you for answering:)arrow_forwardWhat is price elasticity? Why is it important for marketers to consider price elasticity when making pricing decisions? (AACSB: Written and Oral Communication; Reflective Thinking)arrow_forwardIs Trader Joe’s pricing strategy sustainable? Explain.arrow_forward
- 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 pricingarrow_forwardWhat is the difference between loss leader and leader pricing?Give an example of when retailers would use each of thesepricing strategiesarrow_forwardReading the extract, identify the target market and the appropriate pricing strategy Nike is to use to capture target market.arrow_forward
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