M Marketing
6th Edition
ISBN: 9781259924033
Author: Levy Grewal
Publisher: Mcgraw-Hill
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Question
Chapter 1.2, Problem 1PC
Summary Introduction
To determine: Does selling at low cost signifies providing good value.
Introduction: Marketing is an art in which a seller sells his goods and services to his customer. Marketing has important four elements which are price, place, product and promotion.
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- Most companies offer basic products to groups of customers and at almost the same prices, which refers toarrow_forwardWhat’s the value at which a gift from a supplier orclient becomes troubling?arrow_forwardHow can patterns of temporary price discounts “train” consumers to stop buying at full price?arrow_forward
- Explain a banking account offering to a young adult who has just started their first job? Explain a banking account offering to a married couple in their mid-thirties investigating different options:arrow_forwardWhat elements are consumers likely to consider when evaluating the purchase price of a product they want to own compared with the price of renting that product for a limited time?arrow_forwardSome high-fashion retailers, notably H&M and Zara, sell what some call“disposable fashion”—apparel priced so reasonably low that it can bedisposed of after just a few wearings. Here is your dilemma: You havean important job interview and need a new suit. You can buy the suit atone of these stores for $129 or at Brooks Brothers for $500. Of course,the Brooks Brothers suit is of higher quality and will therefore lastlonger. How would you use the two value-based approaches describedin this chapter to determine which suit to buy?arrow_forward
- Consider two products with the same cost but different margins. Which product should have higher customer service level? Why?arrow_forwardIf your customers can see the value of buying your product or service, they'll happily pay the price. If they don't see that value, it makes little difference how low you set your price, the customer will look somewhere else for the perceived value, even if "somewhere else" costs more than your product or service. True or False?arrow_forwardLook 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.arrow_forward
- Why is it so difficult for buyers and sellers to agree on a price for a business?arrow_forwardWhat is the price at which the product is starting tobe perceived as expensive?arrow_forwardA product is anything that can be offered in a market for attention, acquisition, use, or consumption that might satisfy a need or want. Products can be classified into consumer products and industrial products. List and briefly explain the four classifications of consumer products and provide examples for each.arrow_forward
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