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Foundations of Business (MindTap C...

6th Edition
William M. Pride + 2 others
Publisher: Cengage Learning
ISBN: 9781337386920

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BuyFindarrow_forward

Foundations of Business (MindTap C...

6th Edition
William M. Pride + 2 others
Publisher: Cengage Learning
ISBN: 9781337386920
Chapter 12.6C, Problem 4CC
Textbook Problem
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Why is it important to consider the buyer’s sensitivity to price when pricing products?

Summary Introduction

To determine: The importance to consider the buyer’s sensitivity to price when pricing products.

Introduction: Price frames a vital constituent of the showcasing blend and is for the most part administered by the organizations pricing objectives, which is intelligent of the marketing, money related, product and vital objectives, alongside the consumer price desires, the current stock, the manufacturing facility and the related price elasticity.

Explanation of Solution

The importance to consider the buyer’s sensitivity to price when pricing products are as follows:

For a specific item, the cost might be a greater aspect to a few purchasers than to others. The significance of cost to purchasers will likewise fluctuate contingent upon the item...

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Chapter 12 Solutions

Foundations of Business (MindTap Course List)
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Ch. 12.4D - Describe the seven phases of new-product...Ch. 12.5H - Describe the major types of brands.Ch. 12.5H - How do brands help customers in product selection?...Ch. 12.5H - Define brand equity and describe the four major...Ch. 12.5H - What are the major functions of packaging?Ch. 12.6C - What factors must be considered when pricing...Ch. 12.6C - How does a change in price affect the demand and...Ch. 12.6C - Differentiate price competition and non-price...Ch. 12.6C - Why is it important to consider the buyers...Ch. 12.7D - Explain the various types of pricing objectives.Ch. 12.7D - Which ones usually will result in firm having...Ch. 12.8C - List and explain the three kinds of pricing...Ch. 12.8C - Give an advantage and a disadvantage for each...Ch. 12.9E - Identify the five categories of pricing...Ch. 12.9E - Describe two specific pricing strategies in each...Ch. 12.10C - Describe the three types of pricing associated...Ch. 12.10C - Differentiate between FOB origin and FOB...Ch. 12.10C - Explain the five types of discounts for business...Ch. 12 - What does the purchaser of a product obtain...Ch. 12 - What major factor determines whether a product is...Ch. 12 - What are the four stages of the product...Ch. 12 - Under what conditions does product modification...Ch. 12 - Why do products have to be deleted from a product...Ch. 12 - Why must firms introduce new products?Ch. 12 - What is the difference between manufacturer brands...Ch. 12 - What is the difference between a line extension...Ch. 12 - For what purposes is labeling used?Ch. 12 - Compare and contrast the characteristics of price...Ch. 12 - How might buyers perceptions of price influence...Ch. 12 - What are the five major categories of pricing...Ch. 12 - Identify and describe the main types of discounts...Ch. 12 - Some firms do not delete products until they...Ch. 12 - Under what conditions would a firm be most likely...Ch. 12 - Under what conditions would a business most likely...Ch. 12 - For what types of products are psychological...

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