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- Explain who sets / drives prices in restaurants? Is it the the customers and/or suppliers?Recall your past experiences. Have you been given discounts for goods youbought? When and in what occasion? When do sellers give discount? Give anexample and illustrate how it is computed. Give also an illustration of how selling price is determined.what is product policy, price policy, communication, and distribution. detailed answer ı need
- Please assist Based on a retail store that sells clothing for the age between 8 and 40 years . Identify your predominant price strategy, apart from odd pricing, that youintend to use. Justify your choice. Explain how you intend to limit the number of mark-down.Critical Thinking Some retailers have used decoy pric- ing to increase the number of sales of a higher priced alternative. Describe decoy pricing. What are some products that would be good choices for decoy pric- ing? Is this practice ethical? Why or why not?What factors might explains why various retailers can still charge different different price for the Sam products over the internet, despite that it resembles perfect market
- 1. Suppose you are the producer of a product with a manufacturer's suggested retail price of $1000. Assume that this is the actual retail price. In your distribution channel, the retailer typically demands a margin of 30% off the retail price it charges. The wholesaler demands a 20% margin on the price at which he sells to the retailer. As the manufacturer, your cost of goods sold is $400. a. What price does the retailer pay? b. What price does the wholesaler pay? c. What is the manufacturer's contribution in dollars per unit? c. What is the manufacturer's contribution margin? 2. Suppose your fixed costs include $200,000 in advertising and $300,000 in overhead? a. What is the manufacturer's breakeven in terms of units? b. What is the manufacturer's breakeven in terms of dollars?Is subscription pricing likely to be as popular withcust- omers as it is becoming with many product suppliers?Why or why not?32- Which one of the following is the reason for inelastic consumers that the retailers should consider in fixing the price? a. Consumers are price sensitive b. There are substitutes c. There are no substitutes d. Purchase urgency is low