Contemporary Marketing (MindTap Course List)
17th Edition
ISBN: 9781305075368
Author: Louis E. Boone, David L. Kurtz
Publisher: Cengage Learning
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Question
Chapter 19, Problem 9ALR
Summary Introduction
To discuss: The 3 traditional global pricing strategies and give an example of product or firm that would be likely to adopt to one of three methods with reason.
The amount or value of funds that are required to buy a product is termed as price.
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Explain the term International pricing?
Global Pricing Strategy – iPad Pro
Purpose:
Pricing is one of the most important marketing mix strategies. A price must be low enough to gain sales, but high enough to guarantee the flow of funds to support activities like R&D, production, and distribution. However, pricing is more complex internationally than domestically. We often see identical products priced differently in international markets. Why is that? Please write an essay about global pricing by answering the following questions.
Instruction:
Use Apple iPad Pro (11-inch, WiFi, 128 GB model) as an example.
Data collection: Compare the prices of this iPad Pro in the US and three other foreign countries of your interest.
Country
Price in local currency
Price in US dollar
Before Tax
After Tax
Before Tax
After Tax
US
$799.00
$848.94
$799.00
$848.94
1. Hong Kong
$6470.59
$6875.02
$824.29
$875.81
2. Sweden
kr11828.92
kr12568.88
$1,122.48
$1,192.64
3. Brazil…
Explain the term Zone pricing?
Chapter 19 Solutions
Contemporary Marketing (MindTap Course List)
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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
- Visit the website of Alfamart and Indomaret. Make a list of price comparisons for the same brands from the two Minimarkets. Have the two Minimarkets implemented a pricing strategy based on the theories we have learned? Explain.arrow_forwardbased on the article, what are the key factors for Adidas must consider when implementing their global pricing strategies.arrow_forwardDiscuss the advantage and disadvantage of seeking competitive advantage through price. Explain the various pricing strategies available to a marketer launching a new product in Zambia and make reference to examples of products that they would best fit.arrow_forward
- We are opening up our own business. ABC Headphones we will be selling headphones. 1) When introducing a new product to the market, there are two main pricing strategies: Market Skimming or Market Penetration. At the launch of your product, state which pricing strategy would you choose? Explain why it is best suited to your product. 2)Explain the six steps of the price setting process. 3) Conduct research on the following topic:“Ethical issues when setting prices in South Africa.”Write four paragraphs explaining the ethical issues to consider when setting prices in South Africa. Use the rubric on the next page and the mark breakdown below to guide you on how to structure this question. You must use an additional source other than the textbook. To avoid plagiarism, you must paraphrase your answer and reference them correctly. No marks awarded for verbatim answers.arrow_forwardHow do pricing objectives for a global firm differ from thoseused generally?arrow_forwardState the Pricing Strategy for Irish spring Bar Soap . There are three main pricing strategies in chapter 9 Pricing. Please include which one yours falls into. Customer value-based, cost-based, or competition-basedWhat other considerations could affect pricing your product? Such as new competition entering the market or a decline in the economy.Include observations about the closest competitive product and its relative pricing.arrow_forward
- What a company should do when any of its products are in the declining stage? What are the problems of basing point pricing and zone pricing?arrow_forwardFour effective approaches to address challenges in International Pricing in the Global Marketarrow_forwardHaval's new Funky Cat, or Ora, is on its way to South Africa, promising to be Mzanzi's cheapest new electric vehicle. Considering that a high price is seldom associated with responding high quality. assess the wisdom of deploying a low pricing market-entry strategy instead of high proce market entry strategyarrow_forward
- What is the difference between a skimming price strategy and a penetration pricing strategy? Under what circumstances is each likely to be used?arrow_forwardExplain two-pan pricing, payment pricing, price bundling, captive pricing, and distribution-based pricingtacticsarrow_forwardThe introductory price for the Nintendo Gamecube video game console was $100 lower than the list price of Xbox and Playstation 2, its only two competitors. Given this information, you can assume Nintendo used a(n) policy for its Gamecube. absorption pricing penetration pricing flexible pricing competitive skimming cost bundling.arrow_forward
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