Marketing - Standalone book
13th Edition
ISBN: 9781259573545
Author: Roger A. Kerin, Steven W. Hartley
Publisher: McGraw-Hill Education
expand_more
expand_more
format_list_bulleted
Concept explainers
Question
Chapter 14.2, Problem 14.2LO
Summary Introduction
To determine: The main factors that are taken in identifying the end list or the price that is quoted from the correct level of price.
Introduction:
The method that is adopted by the firm to fix the selling price is known as pricing. The pricing generally depends on the average cost and the perceived value of the product.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
If an item is particularly valuable to a customer, using customer-based pricing might suggest a price that is higher than the one that would be indicated by use of a standard markup. Describe a situation where the use of customer-based pricing would suggest a price that is lower than the one that would be indicated by use of a standard markup.
Please assist
Based on a retail store that sells clothing for the age between 8 and 40 years .
Identify your predominant price strategy, apart from odd pricing, that youintend to use. Justify your choice.
Explain how you intend to limit the number of mark-down.
Pricing is not an end in itself but a means to achieving certain objectives of the
marketing department of a firm.” Discuss
Chapter 14 Solutions
Marketing - Standalone book
Ch. 14.1 - Prob. 14.1LOCh. 14.1 - Prob. 14.1LRCh. 14.1 - Prob. 14.2LRCh. 14.1 - Prob. 14.3LRCh. 14.1 - Prob. 14.4LRCh. 14.1 - Prob. 14.5LRCh. 14.2 - Prob. 14.2LOCh. 14.3 - Prob. 14.3LOCh. 14.4 - Prob. 14.4LOCh. 14.4 - Prob. 14.6LR
Ch. 14.4 - Prob. 14.7LRCh. 14.4 - Prob. 14.8LRCh. 14 - Prob. 1AMKCh. 14 - Prob. 2AMKCh. 14 - Prob. 3AMKCh. 14 - The Hesper Corporation is a leading manufacturer...Ch. 14 - Prob. 5AMKCh. 14 - Prob. 6AMKCh. 14 - Prob. 7AMKCh. 14 - Prob. 8AMKCh. 14 - Prob. 1VCCh. 14 - Prob. 2VCCh. 14 - Prob. 3VCCh. 14 - Prob. 4VCCh. 14 - Prob. 5VC
Knowledge Booster
Learn more about
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
- Distinguish pricing based on the cost life cycle and pricing based on the sales life cycle, and give anexample method for eacharrow_forwarddefine the various objectives that a company hopes to achieve through pricing .arrow_forwardRecall your past experiences. Have you been given discounts for goods youbought? When and in what occasion? When do sellers give discount? Give anexample and illustrate how it is computed. Give also an illustration of how selling price is determined.arrow_forward
- Explain with the use of examples, the various product mix pricing strategies which a firm may utilize when setting the price of their goods and services. Ensure that your answer is in essay format.arrow_forwardPricing usually occurs during which step in the sales business process? A. contract creation B. billing C. shipping D. order entryarrow_forwardCustomers are more aware when they consider the price as a loss instead of a gain. a. price framing effect b. reference price c. price communication d. proportional price evaluationarrow_forward
- How to Choose a price strategy to help determine a base price?arrow_forwardthe challenge with using this pricing scheme is determining an accurate relationship between the price per unit and the quantity demanded. a. market-based pricing b. cost plus pricing c. percentage of mark-up d. target costingarrow_forwardA company’s offering represents the bundling of the tangible good, the intangible service, and the price. Describe the specific elements of the offering for an airline carrier, a realtor, a restaurant, and an online auction site.arrow_forward
arrow_back_ios
arrow_forward_ios
Recommended textbooks for you
Contemporary MarketingMarketingISBN:9780357033777Author:Louis E. Boone, David L. KurtzPublisher:Cengage Learning
Contemporary Marketing
Marketing
ISBN:9780357033777
Author:Louis E. Boone, David L. Kurtz
Publisher:Cengage Learning