EBK MARKETING
6th Edition
ISBN: 8220103676250
Author: Grewal
Publisher: YUZU
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Question
Chapter 15, Problem 10MA
Summary Introduction
To discuss: Opinion of Person X on the given situation.
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Students have asked these similar questions
Describe what you are selling (1 item only):
What is the price you will sell at to sustomer:
How will you explain to potential customers WHY they should buy your product?
If your total costs to run the company is $5,000 per month, how many do you have to sell each month
to cover your costs? Show your calculation!
Do you think this is a realistic number to achieve each month? Explain your answer.
In case sales go slower than expected, come up with a volume discount offer for customers and
describe how it will work in the box below:
(for example if you buy 5 items instead of 1, you will give customer a 10% discount).
What other factors besides the base selling price established by pricing formulas must operators consider when setting menu prices? Use an actual restaurant as an example to defend your opinion.
Does "value" mean the same thing as "low price"? How do these concepts differ?
Pick two competing brands from a familiar product category (watches, perfume, consume electronics, restaurants) - one low priced and the other high priced. Which, if either, offers the greatest value?
Why might the strategy for setting a product's price need to be changed when a product is part of a product mix? What are the five product mix pricing strategies? Provide an example of each.
(4 points) Alicia is a self-employed hair stylist who owns her own salon. She has asked you to consult with her on how to generate more revenue. Using the price adjustment strategies discussed in the chapter, advise Alicia on her options to increase sales. Please be detailed in your response with why you are choosing each.
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