EP MARKETING
7th Edition
ISBN: 9781260428223
Author: Grewal
Publisher: MCGRAW-HILL HIGHER EDUCATION
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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
A study indicated that the optimal price for a consumer product is $32.45. Most products in the market sell for $29.99. What price would you suggest to retailers for selling the product and why?
A haute cuisine restaurant is opening down the street, and its owner asks you for advise on pricing. Should you suggest that the restaurant price an appetizer at $6.99 or $7, and why?
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.
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