Explain how a firm can increase its profit by price discriminating. How does it determine optimal prices? How does the existence of substitute products affect the firm’s pricing policy?

Q: Describe price skimming and penetration pricing. What types of new products would be best suited to…

A: Pricing of the product plays an important role for a company as pricing decides what will be the…

Q: Is there any truth in the statement, “Geographical pricing schemes will always be unfair to some…

A: Pricing: It means the fixation of value for the goods and services sold by the producers. The value…

Q: Compare and contrast the geographic pricing strategies that companies use for customers located in…

A: Pricing strategies can be referred to a marketing strategy that is utilized by the organizations to…

Q: HOW WOULD THIS MARKETING CONCEPTS AFFECTS THE PRICING STRATEGY OF THE COMPANY?

A: Holistic marketing plays a prominent role in the organization as has various benefits associated…

Q: What is price elasticity? Why is it important for marketers to consider price elasticity when making…

A: Price elasticity of demand can refer to the quantity demanded according to the change in its price.…

Q: Marketers may choose from various pricing strategies when selling a product or service.   a)…

A: Price refers to the value of a product or service. Price is determined in different ways, depending…

Q: How does the target cost method differ from the cost-plus pricing method?   Which would you prefer?…

A: Target costing determines a product's life-cycle cost, which should be sufficient to create…

Q: Suppose a manufacturer of exercise equipment sets a suggested price to the consumer of $395 for a…

A: Given, Retail margin factor = 0.4 Wholesale margin factor = 0.25 Market price = 395

Q: As a CEO of an airline company what pricing strategy would you employ for high season and low season…

A: Pricing strategy depends upon the contextual events in which flights operate

Q: For new products, when is skimming pricing more appropriate, and when is penetration pricing the…

A: Skimming pricing is more suitable or appropriate when there exist enough prospective customers who…

Q: Discuss the two new product pricing strategies and provide an example to illustrate each. Discuss…

A: New product pricing strategies can be of various types. Two of them are 1.Price skimming  2.Market…

Q: How is the price of an item established in a target pricing contract? What makes target pricing…

A: Target pricing is a radical approach used in the early stages of the New Product Development (NPD)…

Q: What is the difference between pricing objectives and pricingconstraints?

A: Pricing strategy is very important for selecting the right spot to price the product at. It also…

Q: Although more than one strategy can achieve profitable results, even within the same industry,…

A: Successful pricing is an integral part of any company. The details are discussed as follows

Q: Which industry is most likely to adopt an experience-curve pricing approach? Multiple Choice…

A: Experience curve pricing approach refers to a process of pricing below the average cost level of the…

Q: What are the possible problems that will be encountered if a firm uses | perceived-value pricing and…

A: In perceived value pricing method, price is set based on the customer willingness to pay and what he…

Q: Why is competitive pricing risky for marketers?

A: Features of competitive pricing: 1. The organizations opt for pricing above the competition strategy…

Q: Can you offer different levels of products or services at different price points? Please identify…

A: Price is the monetary value determined by the seller on the services and products offered by him. It…

Q: Cite three (3) pricing strategies that companies or firms implement. Discuss the circumstances or…

A: The three pricing strategies are penetrating, skimming, and following. Penetrate: Setting a low…

Q: What characteristics of market demand make a service product an appropriate product candidate for…

A: Disclaimer: Since you have asked multiple question, we will solve the first question for you. If you…

Q: Analyze the pricing graph. Which product price is expected to generate the most profitability?

A: The graph gives detail about the sales price and the profit in Millions. The details are discussed…

Q: What is the importance of competition-based pricing?

A: A pricing approach in which a corporation determines the price for its products after studying the…

Q: What is dynamic pricing? What is discriminatory pricing? What is the difference between the two?

A: The process by which an organization decides the price of a product to sell it is known as pricing.…

Q: How are you as a business person going to develop a price strategy for entering into the market? In…

A: A business is surely going to develop some price strategies for entering into the market. Those…

Q: Develop 4 separate pricing policies for companies? Explain when they will be more suitable for…

A: Price is more of a psychological concept where it acts as a perceived value in the eyes of the…

Q: How is value-of-service pricing calculated? Is this price strategy still applicable today?

A: The value-of-service pricing and determine whether the approach will be valid in the present trends.…

Q: What is the advantages and disadvantages of Buyer-oriented pricing strategy? Explain. Please send…

A: Pricing of product plays a significant part in deciding the success and profitability of the product…

Q: Why is it important to establish pricing targets before putting a price on goods and services?

A: Organizations set prices on their goods depending on their goals. If a company needs to gain more…

Q: What pricing advantages or disadvantages do companies face in selling their products through online…

A: Pricing refers to setting a price for a product or service at which it will be sold in the market…

Q: What are the disadvantages of competition-based pricing?

A: Setting prices for your products or services is more complicated than a simple calculation. Prices…

Q: Why must marketing objectives and pricing objectivesbe considered when making pricing decisions?

A: Pricing objectives should be considered when making pricing decisions as they are the most important…

Q: what is value based pricing? is it good to use value based pricing for start-up business?

A: Value based pricing is used to meet the expectations of the customers. The term is used when a firm…