Midnight Magic, a perfume manufacturing company, plans to release a new fragrance during the holiday season at $99 per bottle. The company intends to bring the price down to $49 within six months of its release to attract buyers who couldn't afford the initial price. Which of the following pricing strategies is Midnight Magic using? O a. competitive pricing O b. market-skimming pricing O c. cost-plus pricing O d. market-penetration pricing
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- Please answer question below. Over the past year, you and your friend have decided to embark on a new businessventure, you have created a new recipe for baked bread. You are currently pausedat the pricing stage, considering that there are no specific guidelines for setting theright price. Outline 5 aspects that you need to consider when developing a price ofyour new product offering. Justify your answer.a) Identify and describe this mobile phone’s (any mobile phone) pricing objective (pricing objective has 6 elements including Survival, Maximum current profit, Maximum market share, Maximum market skimming, Product-quality leadership, and other objectives). b) Identify two places (e.g., online stores, telecommunication companies, etc.) where this phone can be purchased. Compare their offers (price, package, trade-in option, payment plan, etc.) and explain in detail why this phone.(maximum 300 words)40 Value-based pricing is the reverse process of ________. Select one: a. good-value pricing b. cost-based pricing c. variable cost pricing d. cost-plus pricing
- Assume Netflix applies different pricing for corporate buyers than for individuals, even if the content of the package is the same. What type of pricing strategy does the different options offered to individuals and businesses represent? a. Predatory pricing. b. First degree price discrimination. c. Second-degree price discrimination. d. Third degree price discrimination. e. Market segmentation.what pricing approach is it when an athletic commission prices different hockey tickets depending upon stadium seat location (closer or further from the ice, behind the goalkeeper, etc.) 1. Bundling 2.Peak Load Pricing 3.Indirect Segmentation Price Discrimination 4.Direct Segmentation Price Discrimination 5.Complete Price DiscriminationState and explain the five Considerations (C's) in setting the price for a product or service. Five C’s of PRICE • Costs (fixed, variable, total, break-even) • Consumers (market & demand, market situation: PM,PC, MC, OC) • Competitors (going rate, sealed-bid) • Company’s marketing objectives (penetration, survival, share, profit) • Control of government (regulations, adjustments, subsidies)
- 3.Based on the way SBC's brand manager describes its overall pricing strategy across various types of bikes with varying attributes for different types of riders and varying degrees to which those attributes are incorporated, SBC employs Multiple Choice A) product line pricing. B)competitor-based pricing. C) odd/even pricing. D) penetration pricing. high/low pricing.5- Airlines are known to jack up fares when peak travel season approaches, and they typically run their fare sales around slow seasons. This is an example of a ________ pricing strategy Group of answer choices everyday low pricing (EDLP) uniform premium high/low 6- Which of the following is NOT a goal of informative advertising? Group of answer choices inform customers about upcoming sales increase awareness explain how the product works build company image 7- A pricing strategy is Group of answer choices using one-time seasonal discounts to reduce inventory. a short-term approach to setting prices a long-term approach to setting prices in a companywide integrated effort using slotting allowances to gain access to distribution channels 8- I mentioned that the main tasks of advertising are to inform, remind, and persuade. At which stage of the product life cycle should the advertising focus on informing? Group of answer choices decline maturity…Part of the pricing strategy for TBSL bars was based on the message; another part of the strategy was to set a price that they could charge: A) when they went into national retailers like Starbucks and Whole Foods B) when they went into Target stores C) when they offered discounts for bulk purchases D) when they achieved scale
- Companies that set a low price for a new product in order to attract a large number of buyers and a large market share are using the strategy. O a. market-penetration pricing O b. market-skimming pricing O c. value based pricing O d. captive product pricingHAPEE TOOTHPASTE - LAMOIYAN CORPORATION Marketing Strategies Pricing Strategies 1. Product-mix Pricing Strategy A. Rationale/ Analysis B. Pricing Strategy objectives C. Process (Step-by-step) D. Expected outcomeCompare and contrast research-based profitology pricing vs marked-up pricing strategy. As a seasoned sales consultant of marketing with the responsibility of pricing goods and services for a firm, discuss and explain the pricing strategy you used to price women’ summer straw hats that were expected April 27, but were recieved July 10, due to shipping discrepancy. Please be sure to provide examples to support your case for the pricing strategy used.