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a) You've been approached by a friend who has sought your advice about pricing products for his video production business. He indicated that he has several new products ready to be launched and wants to review the prices of existing products. Required: Prepare a response to answer your friend's queries. Provide specific guidelines that he can follow. Include examples in your answer.

a) You've been approached by a friend who has sought your advice about pricing products for his video production business. He indicated that he has several new products ready to be launched and wants to review the prices of existing products. Required: Prepare a response to answer your friend's queries. Provide specific guidelines that he can follow. Include examples in your answer.

Principles Of Marketing
Principles Of Marketing
17th Edition
ISBN:9780134492513
Author:Kotler, Philip, Armstrong, Gary (gary M.)
Publisher:Kotler, Philip, Armstrong, Gary (gary M.)
Chapter1: Marketing: Creating Customer Value And Engagement
Section: Chapter Questions
Problem 1.1DQ
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Question 6 SHOW YOUR WORKINGS FOR EACH SECTION a) You've been approached by a friend who has sought your advice about pricing products for his video production business. He indicated that he has several new products ready to be launched and wants to review the prices of existing products. Product Required: Prepare a response to answer your friend's queries. Provide specific guidelines that he can follow. Include examples in your answer. ANSWER a): b) Chocfee Dairy Ltd gathered this data for two of its Current Sales Additional Processing Value Coffee beans 000 Sales Value if Costs $ 8.000 products that it produces: Chocolate malt $ 5 000 000 Processed Further $ 3.000 $ 2 000 Required: Which of the products should be processed further? ANSWER b): $10 $7
Transcribed Image Text:Question 6 SHOW YOUR WORKINGS FOR EACH SECTION a) You've been approached by a friend who has sought your advice about pricing products for his video production business. He indicated that he has several new products ready to be launched and wants to review the prices of existing products. Product Required: Prepare a response to answer your friend's queries. Provide specific guidelines that he can follow. Include examples in your answer. ANSWER a): b) Chocfee Dairy Ltd gathered this data for two of its Current Sales Additional Processing Value Coffee beans 000 Sales Value if Costs $ 8.000 products that it produces: Chocolate malt $ 5 000 000 Processed Further $ 3.000 $ 2 000 Required: Which of the products should be processed further? ANSWER b): $10 $7
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