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You are making a special hot chocolate that costs you $0.45 per serving. You sell each serving for $3.50. What is the beverage cost percent?
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- When the salesperson "Sami" 4 points tells his customer "Youssef" the following: "Mr. Youssef, we have discussed several benefits that seem especially important to you. First, you agree that this line will be popular with the fashion-conscious shoppers your store caters to. Second, you indicated that the prices I quoted will allow you excellent profit margins, and third, if we process your order now, you will have the merchandise in time for the pre-holiday buying period. With this in mind, let's go ahead and process your order today." Which method Sami is using when closing the sale with his prospect Mr. Youssef? * O Direct Appeal Close Trial Close. Summary-of-Benefits Close Assumptive Close.A retailer has one opportunity to purchase a holiday gift basket. The retailer buyseach basket for $10 and sells each basket for $25. Baskets left at the end of the season aresold to a discounter for $1. What is the underage cost?A clothing retailer priced a shirt at $54. New styles were coming in, so the price was reduced 25%. Two months later, as the season was coming to a close, the price was reduced an additional 30%. Calculate the reduced price, after the second markdown.
- You have taken a summer job in the windows and doors department of a large home improvement store. During sales training, you learn about the products, how to best address customers’ needs, and how to sell customers the best product to fit their needs regardless of price point. One day your manager informs you that you are to recommend Smith Windows to every window customer. Smith Windows are more expensive and don’t really provide superior benefit except in limited circumstances. The manager is insistent that you recommend Smith. Not knowing what else to do, you recommend Smith Windows tocustomers who would have been better served by lower-cost windows.The manager rewards you with a sales award. Later the manager tellsyou that he received an all-expenses-paid cruise for his family fromSmith Windows. What, if anything, should you do with this information?A newsvendor determines that the underage cost is $100 and the overage cost is$25. What is the newsvendor’s critical ratio?Look at some real estate want ads in your newspaper. Enter the price of a two-bedroom home and a three-bedroom home. If you find some abbreviations you do not understand, ask your teacher.
- Explain how a brand of a commonly purchased consumer packaged goods, such as toilet tissue, could be skim-priced? A service provider has decided to charge his customers P5, 000 for every upholstery cleaning service. The customer thinks that it is a steal , since the service provider is doing a great job and thinks that it could have costed them at least P7, 000 had they agreed to the first service provider that they went to. The total cost to the provider is P2, 000 which include the cleaning materials and labor. Identify the ceiling price and floor price of the service. Should the service provider decide to increase his price to P6, 500, do you think it is still acceptable to the customer? Why? Give an example of a situation where a price that is low with respect to the product’s VTC would not serve as an incentive to buy. What would be the implications of this for the use of a penetration strategy for pricing his product? RESEARCH: What is a pioneer advantage? Describe…Value in use pricing does not vary from one product to another. sets a price that will capture some of what customers will save by substituting the firm's product for the one currently being used. Omerely sets the price at what customers expect to pay. sets a rather high price to suggest high quality or high status. is determined by online auctions.Identify two situations in which you might use the premium approach. Why would that approach be effective in these situations?
- 22- For which of the following is demand likely to be least elastic to price changes? Group of answer choices theater tickets spring break vacations restaurant meals prescription drugs 23- Which of the following is NOT a sales promotion directed at consumers? Group of answer choices premium allowance (slotting fee) sweepstakes coupons 24- When manufacturers or brands want to choose retailers, a key factor in that decision is Group of answer choices where their target customers expect to find their products how many employees the retailers have whether customers will find the store atmospherics appropriate to the location if customers are using credit cards or cash to make purchasesSeasonal discounts given by Lulu & Carrefour Hypermarkets during festivals are an example for: The combination Product The Extended Product The Tangible Product The Generic ProductConsumers often consider price: Multiple Choice to suggest potential product use. to determine income requirement. to suggest product size. only when short on funds. to suggest product quality