Q: Define and provide an example for price fixing.
A: Price fixing is the agreement among the competitors where they agree to sell the product at the set…
Q: Using the concepts learned on Price Determination, Forecasting and Production, explain how you can…
A: The production operation can be referred to as the manufacturing process which an organization…
Q: Why is the rationing function of price necessary for price to serve this function in the market…
A: Introduction: Rationing deals with the scarcity, where scarcity is the economic situation that…
Q: How street vendors initiating their price actions?
A: A street vendor is a person who offers something for sale maybe a physical product or service. The…
Q: Explain how unethical marketers might use bait-and-switch tactics, price-fixing, and predatory…
A: The marketers have to do the marketing activities ethically. They have to integrate the ethics with…
Q: Define Non-price competition.
A: Competition in market is said to be inevitable which means it cannot be eliminated but could be…
Q: Discuss the six step price setting procedure in marketing
A: Price setting is a vital component while launching a product in the market. Price is an important…
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: Sellers pursue different strategies or approaches that affect the pricing of their products or…
A: Pricing strategies refer to the marketing strategy which is used to determine the prices of products…
Q: Examine the fundamental basics for pricing like the economics of supply and demand and the…
A: Law and supply are the basic fundamentals of pricing. It is the relationship between producers who…
Q: the eight stages for establishing prices
A: The price is defined as the amount which is expected for the exchange of a product or a service. The…
Q: A business knows that over a long-term period of time, it must ultimately set its prices above what…
A: Most businesses seek strategies that arrange to price with revenue formation, allowing their…
Q: Under what circumstances would manufacturers either set prices that try to maximize profits, or…
A: Pricing: It is the major factor when it comes to a global business that determines GDP growth,…
Q: Should a company always respond to a competitor’s price cut, and what options are available if it…
A: When the competitor changes the price of their products, the companies should analyze the reason…
Q: Why setting prices for business products is different from setting prices for consumer products?
A: Prices are the monetary value side by the company on the products and services as a part of exchange…
Q: The market penetration strategy of price adjustment
A: Penetration strategy of pricing involves Quick gain of market share by setting an initial low price…
Q: Discuss the advantages of fixed-price policy on the part of customer and marketer.
A: A fixed-price contract gives both the buyer and seller an anticipated outline, offering stability…
Q: what is the Competitive pricing between vaseline intensive care body lotion and other competitors
A: Price is the perception of product in customer's mind. A product which is highly perceived can be…
Q: What are trade margins? How do they relate to thepricing for a producer of goods
A: Between the production of the product and its possession by the consumer, generally, the product…
Q: When does a seller have the most leverage over a buyer?
A: When the buyer has the most leverage over the seller, it is known as Economies of Scale. It is when…
Q: Although cannibalization generally forces price cuts, in whatways can it actually benefit a firm?
A: Price setting is the most crucial and essential task of the business as determines business and…
Q: Under what conditions does a buyer have the most supply management leverage over a seller?
A: A vendor has the most leverage over a buyer prior to the completion of the deal, and particularly…
Q: Write down and explain the points that companies should pay attention to when determining their…
A: The pricing policy is the definitive answer to the question that arises. A systematic pricing…
Q: The terms shadow price and reduced cost mean the same thing.
A: The correct answer is False.
Q: Inkjet printers are among the most notorious examples of captive product | pricers. Because of the…
A: Captive pricing is the pricing of products that have both a core product and a number of related…
Q: How do the pricing strategy, environmental forces, business practices, and cultural values…
A: Marketing is the process to create exchange with the customers. It is a primary activity for any…
Q: Discuss the relationship of price to value. Does a low price necessarily mean a better value? Give…
A: Price - It is the amount paid by a customer to purchase a product or receive a service. Value - It…
Q: Discuss how companies adjust their prices to take into account different types of customers and…
A: Pricing is the process of setting the price of the product and service at which the company wants to…
Q: Price controls often generate
A: A type of government intervention in which the maximum and minimum prices of the goods and services…
Q: How does the purchasing ability of consumers influence the pricing system deployed by businesses?
A: Purchasing power is the consumer's ability to purchase the products or services from the limited…
Q: Discuss the different types of price discrimination and how they help the firm increase their…
A: Introduction : The practice of charging different rates for the same goods or services in various…
Q: Explain price elasticity and its determinants.
A: The price elasticity of demand for a commodity is determined by the commodity's characteristics and…
Q: Do competitors in the same line of business agree to price fix their goods or services
A: Competitors in the same line of business generally do not agree to fix the prices their goods or…
Q: Explain how unethical marketers might use bait-andswitch tactics, price-fixing, and predatory…
A: Ethical marketing can be described as a concept through which the sellers market their products by…
Q: Islamic theory of Prices
A: The market theory, also known as "price theory," is a microeconomic philosophy that uses supply and…
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Solved in 2 steps
- What is the Effect of Price?Explain what you think would happen to the price if it were set at a higher level than the market priceChoose a product that you patronize, examine well the characteristics of your chosen product and describe it? Make a comment about the price of the product, then analyze if its reasonable or not. Explain. Where does the product been distributed. what do you think why it is placed there. What is the marketing platform being used by the product to reach the target market and why?