For the following scenarios, suggest a pricing strategies and justify why that strategy is most suitable for that business. Scenario 4: Thamid is a reputable independent financial advisor that specialises in investment advice to wealthy individuals with a net worth of over $1 million. Scenario 5: Maurice is a well-established roofer within his local area. However he is wanting to expand and gain new customers in the neighbouring town, where he currently is relatively unknown. Scenario 6: Diana is transforming her home-based invitation business to a small shop in a retail district. She will be providing the first of its kind “eco-invitation”. The invitation (when the individual is done with it) can be planted in a pot to grow into a beautiful flower hence reducing the paper waste.

For the following scenarios, suggest a pricing strategies and justify why that strategy is most suitable for that business. Scenario 4: Thamid is a reputable independent financial advisor that specialises in investment advice to wealthy individuals with a net worth of over $1 million. Scenario 5: Maurice is a well-established roofer within his local area. However he is wanting to expand and gain new customers in the neighbouring town, where he currently is relatively unknown. Scenario 6: Diana is transforming her home-based invitation business to a small shop in a retail district. She will be providing the first of its kind “eco-invitation”. The invitation (when the individual is done with it) can be planted in a pot to grow into a beautiful flower hence reducing the paper waste.

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter9: Decision Making Under Uncertainty

Section: Chapter Questions

Problem 46P

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