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- This chapter states, "Often consumers base their perception of price onwhat they believe to be the customary or fair price." Expl.ain the meaningof this statement and provide an example.Just Answer the Number 3! Here is the Answer for the Number 1. Markup price: - It is defined as the difference between cost price to make building and the price charged from customer. Markup price is simply a price that is added to actual price of construction. Any building or industrial contractors prefer markup pricing method because it sets prices for goods which will give profits to contractors. It is very useful for products whose price varies frequently. Markup pricing strategy is easy to calculate reason behind that is it consists simple equation which eliminates confusion in pricing the products. Also, it is very fast and error free with respect to other methods. With the help of markup pricing method contractors can recover labor or other price easily. Markup price is useful for bulk pricing. For example- One has to do pricing of hundreds products then just set a profit percentage on each products which will save the decision making cost. Here is the answer for the…F2 Define the five considerations of the price variables. - (W) @ V A B I F3 #, 3 £ E D I F4 DC * $ 4¢ R F F5 010 123 COO DO DO F6 % 5 ¤ COO T G EE D O 10 F7 84 A ? 6 n GO Y H F8 & 7 Ca 202 U F9 * ∞ 8 2 US X₂ x² F10 ( 9 K F11 3 0 0 F 1
- Just ANswer the Number 2! Here is the Answer for the Number 1. Markup price: - It is defined as the difference between cost price to make building and the price charged from customer. Markup price is simply a price that is added to actual price of construction. Any building or industrial contractors prefer markup pricing method because it sets prices for goods which will give profits to contractors. It is very useful for products whose price varies frequently. Markup pricing strategy is easy to calculate reason behind that is it consists simple equation which eliminates confusion in pricing the products. Also, it is very fast and error free with respect to other methods. With the help of markup pricing method contractors can recover labor or other price easily. Markup price is useful for bulk pricing. For example- One has to do pricing of hundreds products then just set a profit percentage on each products which will save the decision making cost.2. What might make it difficult to determine the prices of one's competitors? When such difficulties occur, what could be done to surmount them?A2) Economics Prices can be determined with complete reliance on costs, the inverse elasticity rule, and complete reliance on-demand and no reference to cost. Real-world pricing strategies lie in this continuum. a. False b. True c. It depends
- Discuss the following briefly. 1. Pricing 2. Price 3. Payment 4. Costing 5. Cost Please answer 1-5. Thank youIn an effort to build immediate sales increase for their new running shoes quickly in a short period, Sprinters Inc. set the initial price of the shoes very "low". What type of pricing does this reflect? bundling reference market penetration skimming price fixingImagine that Microsoft has recently developed an innovative technology.Because no other firm has this technology, demand is somewhatinelastic, and therefore Microsoft has some leeway in setting its price.Discuss the factors that Microsoft should consider when setting a marketprice.
- b. If you were concerned about low income individuals having access to water, what type of pricing structure would you use in your municipality? Explain.4) Discuss about the "declared" and the "accepted" price on DLS transactions record. How would you treat these differences when applying the comparative Method?4-In which method of purchasing, price fluctuations are negligible. a. Co-operative purchasing b. Specific future period purchasing c. Speculative purchasing d. Contract purchasing