Understanding Business
Understanding Business
12th Edition
ISBN: 9781259929434
Author: William Nickels
Publisher: McGraw-Hill Education
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Chapter 14, Problem 4CE
Summary Introduction

To determine: The task performed, skills needed, pay and opportunity outlook of the career.

Introduction: Cost estimators’ job is to collect data that can help to find out the cost of a particular thing, that thing can be a new building, product or any service.

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Think about the last time you went to a shop, and consider how many different products there were to choose from, all of which have different prices Explain how pricing affects you as a consumer. Include the following details: An example of a time when you were faced with two identical or similar options and chose the cheaper option and explain why; If there are any products or services you feel you cannot compromise on price for, and why or why not; and How pricing affects your satisfaction with a product or service.
Week after week, consumers shop for many of the same groceries. At some point, the product may be priced the same and look the same as before but with less in the package. If consumers are not made aware of the change, is this deception? Is this different from deceptive pricing? Explain.
Why is finding and implementing the right pricing strategy critical to a company’s success?
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