MindTap Business Communication, 1 term (6 months) Printed Access Card for Guffey/Loewy's Essentials of Business Communication, 11th
11th Edition
ISBN: 9781337386555
Author: Mary Ellen Guffey, Dana Loewy
Publisher: Cengage Learning
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Chapter 6, Problem 6.12AAC
Summary Introduction
To Determine:
A direct claim letter to the Regional manager at the digital depot to sell the TV for less than the advertised price.
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Which of the following costs is a product cost?
Depreciation of factory maintenance equipment.
Salary of a clerk who handles customer billing.
Insurance on a company showroom where customers can view new products.
Cost of a seminar concerning tax law updates that was attended by the company's controller.
Can you accept a $75 prize won at a raffle at asupplier’s conference?
All of these statements about price are true except which?
Multiple Choice
The price must generate enough sales dollars to pay for the cost of developing, producing, and marketing the product.
The price for a product or service must earn a profit for the company.
Small changes in price can have big effects on both the number of units sold and company profit.
For most products and services, there is an agreed-upon price range set by makers.
The price must be “right”—in the sense that customers must be willing to pay it.
Chapter 6 Solutions
MindTap Business Communication, 1 term (6 months) Printed Access Card for Guffey/Loewy's Essentials of Business Communication, 11th
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- How will profit be affected if the individual firms. Increased pricearrow_forwardSuppose your company sells a packs of lenses attach to smart phones to improve the quality of picture people take.you pay 29.89for each 3pack 59.95what is goods sold percentage for this item?arrow_forward1. As an entrepreneur, one of the most significant and strategic decisions you will ever make during the life cycle of your new venture will be one of selecting your pricing approach and setting your initial price. Few decisions have such wide-ranging implications for the success of the venture, especially as this decision directly impacts every area of the business, such as customer acquisition, the break-even point, and profitability. Research several newly emerging start-ups that are focused on product-based offerings for the consumer sector that you find interesting. Select one and in a two-page paper using the principles from the text, identify, assess, outline, and analyze the totality of the pricing models, pricing strategies, and pricing decisions. Also include whether you agree with each and be sure to explain your answer (if you do not agree, indicate what changes would you make).For ENTR550, Entrepreneurial Marketing at Keller School of ManagementAPA format, include…arrow_forward
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- When a company introduces a price cut, the total profits may decrease because lower profit marginTrueFalsearrow_forwardHow can a business that is using "ideal standards" to set prices under a cost-plus method (specifically the Product Cost Concept), actually set the selling prices of their products too low?arrow_forwardAnne is a bargain-minded shopper. Normally, her favorite toothpaste costs the same at both of her local supermarkets, but the stores are having competing sales this week. At one store, there is a bonus offer: buy 2, get 1 free. At the other store, toothpaste is being sold at 40 percent off. Anne instantly opts for the first offer. Was that really the less-expensive choice? (Hint: Is “buy 2, get 1 free” the same as 50 percent off?)arrow_forward
- please answer ASAP!arrow_forwardList 5 claims that are made in the advertisement for the ultrasonic pest repeller.arrow_forwardYou have a great idea for a business and need to create a business plan to present to a bank. Choose one of the following products or services and draft the part of your plan that describes how you will price and market it. 1. Haircuts at home.2. Online apartment rental listing.arrow_forward
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