The new product development and the anticipated lifespan of the market.

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Chapter 12, Problem 12.13A

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To explain: The new product development and the anticipated lifespan of the market.

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• Identify THREE key Pricing strategies and discuss the importance of understanding customer value perceptions, company costs, and competitor strategies when setting prices. What did you learn about. the factors affecting pricing and products, services, and brands. What did you learn about how companies adjust and change their prices to consider different types of customers and situations, these can just be bullet points or a short narrative. • Pick ONE of these key concepts and summarizes the significance of these in a 1 or 2 paragraph explanation of the strategy. (Including examples if appropriate)

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…

List the general approaches to pricing. Select examples of products that you regularly use. i. Notice the price of each of these items For each item, ii. State the main benefits you are looking for in using the product. iii. Does the price communicate the total benefits sought? iv. Does the product’s price suggest good value? v. Do you think the manufacturer or retailer is overcharging or undercharging consumers for the product?