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- 1. Explain the importance of price segmentation in the following: · Buyer · Seller · Competitive Market 2. Explain what is price segmentation hedges. 3. Explain the advantages and disadvantages of price promotion.State 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)Customers are more aware when they consider the price as a loss instead of a gain. a. price framing effect b. reference price c. price communication d. proportional price evaluation
- 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 dependsWhat measurement issue is hedonic pricing meant to fix? Be specific as possible as why as measurements without it can fail to capture what the relevant statistic was designed to capture. How does it work in practice?HAPEE TOOTHPASTE - LAMOIYAN CORPORATION Marketing Strategies Pricing Strategies Price-adjustment Strategy A. Rationale/ Analysis B. Pricing Strategy objectives C. Process (Step-by-step) D. Expected outcome
- 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 pricingChose the best choice. a. Restaurannts and fasst foood chains typically use fixed (menu) pricing. b. Let’s assumme that a computer hardware assembled by James runs a Microsoft operatinng system software. Then, the hardware and software pair could be viewed as an example of complementary products. c. Assumme a drone manufacturer (DM) makes and sells drones to customers directly with no intermediary involved. Then DM’s revenue model for such transactions can be characterizzed as a production-based model. d. a, b and c, are all true statements. e. a and b are true, but c is false.Which of the following price adjustment strategies involves reducing prices to reward customer responses such as volume purchases, paying early, or participating in sales-support programs? O a. discount and allowance pricing O b. captive product pricing O c. dynamic pricing O d. product bundle pricing O e. product line pricing A Moving to another question will save this response. « < Question 26 TOSHIBA DEL SNI PAA FB F10 F12 F9 BACK SPACE 7 V 8A99 0 TYYIU
- Value-based pricing is the reverse process of Select one: O a. good-value pricing b. cost-based pricing c. cost-plus pricing d. variable cost pricingBriefly discuss the following. 1. Market Price 2. Price Value Policy 3. Price Execution Please answer question 1,2,31. As an entrepreneur, one of the most significant and strategic decisions you will ever make during the life cycle of your new venture will be one of selecting your pricing approach and setting your initial price. Few decisions have such wide-ranging implications for the success of the venture, especially as this decision directly impacts every area of the business, such as customer acquisition, the break-even point, and profitability. Research several newly emerging start-ups that are focused on product-based offerings for the consumer sector that you find interesting. Select one and in a two-page paper using the principles from the text, identify, assess, outline, and analyze the totality of the pricing models, pricing strategies, and pricing decisions. Also include whether you agree with each and be sure to explain your answer (if you do not agree, indicate what changes would you make).For ENTR550, Entrepreneurial Marketing at Keller School of ManagementAPA format, include…