I am planning a Holiday Ornament to commemorate the christmas spirit. Forcasted demand for ornaments is normally distributed with a mean of 40,000 with a standard deviation of 15,000 units. The cost per ornament is $3 and are sold to people around the world for $10 each. All unsold ornaments are donated after the holidays without any text deductions for me. How many ornaments should I tell my supplier to produce? What's my expected profit? If the manufacturer were to discount the price to me to $2.75 if I ordered at least 80,000 units should I do it? Justify the answer with profit estimates

An illustrative example of discount price Model after explaining its nature and rules used.

Hi, my name is Nicole and I need your help urgently! I saw a puppy on facebook which I saw advertised through a mutual friend.  The seller asked me to pay £3000 upfront to hold the puppy, which I was ok with as I have done my research and the breeder said they had a KC Registered certificate. So I have sent the breeder £3000 via bank transfer last week. I was meant to pick up the puppy today and when I checked the breeders address on Facebook they no longer exist! (**crying**) I can’t pay for my bills or buy food for the kids because this was the last of my money this month. (**angry**) You and Monzo need to protect me against scams like this!  I want to raise a complaint to get all my money back straight away! what would be the best response to this scenario? what solutions would you give to this person?

Which term describes the phenomenon where fans are willing to pay more for tickets to high-demand games, such as rival matches or playoff games?   A. Price discrimination B. Dynamic pricing C. Elastic demand. D. Inelastic demand.

As a marketing manager, you are asked by the company leadership to formulate the right pricing strategy for the company's two TV broadcast programs, namely: (1) Hi-tech(H) program which contains engineering, science and technology; and (2) the Wildlife(W) program which contains adventure, vacation, and flora-fauna. There are at least 2 customer groups targeted by the program: (a) Geeks, and (b) Regular. For each group, the number of customers and their WTP values are presented in the table below. Groups Number of Customers Hi-tech Wildlife Geeks 3000 15 4 Regular 10000 3 8 Assuming that the production cost for the two programs is 0, then:a. Mention 3 pricing strategies that can be applied.b. Calculate the price level and profit earned by each strategy.c. As a manager, which pricing strategy did you choose? State why.

When meat is processed for human consumption , a secondary product is derived which can be used as pet food . So the manufacturer can sell it in market to recover some of his expenses say transportation and storage costs This is an example for which type of pricing