Marketing (Custom Package)
12th Edition
ISBN: 9781323452486
Author: Armstrong
Publisher: PEARSON
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Question
Chapter 9, Problem 1CLC
Summary Introduction
To discuss: Whether “value” and “low price” are similar and the difference between these concepts.
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.
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- What is Price competition?arrow_forwardShould prices reflect only the cost of making a product or delivering a service? Explain?arrow_forwardall of the following are commonly used to create a hurdle for price-sensitive consumers to overcome in order to get a lower price EXCEPY a. bundling b. group pricing c. couponsarrow_forward
- How will profit be affected if the individual firms. Increased pricearrow_forwardDiscuss the relationship of price to value. Does a low price necessarily mean a better value? Give an example to illustrate your opinion. How can a firm offer good value in a mature market where price seems to be the only visible means of differentiation?arrow_forwardWhy setting the right price is essential?arrow_forward
- What is an external factor that affects the price that a busienss charges for its products? Operating costs Variable expenses Economic conditions Employee benefitsarrow_forwardDo the following interpretations have ethical ramifications? Companies owe it to their customers and shareholders to hire the world's greatest people for the lowest possible price.arrow_forwardIf a firm can increase its total revenue by raising its price, shouldn’t it?arrow_forward
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