Mr. Robert took a bag of chips from a super market and noticed to a coupon attached to the bag of the chips allowing him to get 20% off on the purchase price This is an example of
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Customary Pricing
There are various types of pricing strategies followed in the market. They are psychological pricing, odd pricing, free onboard pricing, customary pricing, prestige pricing, dual pricing, ruling pricing, negotiated pricing, mark up pricing, etc. each one can be explained as follows:
Multiple Unit Pricing
“Multiple-unit pricing is a practice where a company offers consumers a lower than unit price if a specified number of units are purchased.”
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- An extremely unattractive suit sells for $500 retail and the retailer's margin % is 30% and the wholesaler's margin is 15%. What was the manufacturer's selling price? A 45% retail margin is what % mark up?Explain how a brand of a commonly purchased consumer packaged goods, such as toilet tissue, could be skim-priced? A service provider has decided to charge his customers P5, 000 for every upholstery cleaning service. The customer thinks that it is a steal , since the service provider is doing a great job and thinks that it could have costed them at least P7, 000 had they agreed to the first service provider that they went to. The total cost to the provider is P2, 000 which include the cleaning materials and labor. Identify the ceiling price and floor price of the service. Should the service provider decide to increase his price to P6, 500, do you think it is still acceptable to the customer? Why? Give an example of a situation where a price that is low with respect to the product’s VTC would not serve as an incentive to buy. What would be the implications of this for the use of a penetration strategy for pricing his product? RESEARCH: What is a pioneer advantage? Describe…If a firm wished to encourage repeat purchases by a buyer throughouta year, would a cumulative or a noncumulative quantity discount be abetter strategy?
- Consider the advertisement for a gutter cleaning service shown below. What is the external reference price in this ad? According to the course material, an advertisement could attempt to frame a price as a single loss, as two losses, as a gain and a loss, or as a gain foregone. Which one of those framings is this advertisement attempting to accomplish? Explain your reasoning. If your internal reference price for gutter cleaning service was $125, how would you perceive this advertised price of the company’s gutter cleaning service? Would you perceive it as a single loss, as two losses, as a gain and a loss, or as a gain foregone? Explain your reasoning.Look at some real estate want ads in your newspaper. Enter the price of a two-bedroom home and a three-bedroom home. If you find some abbreviations you do not understand, ask your teacher.1. At a local Bed and Bath Superstore, the manager knows her customers will pay no more than $390 for a bedspread. The company wants a 40% markup on selling price. What is the most that the company can pay for a bedspread to realize the required markup?
- In our modern world, in which fewer people carry actual cash, what benefit to the seller does a cash discount carry? Why? Discuss the benefit to the sellerExplain why it is a benefit2.Calculate the missing information. Round dollars to the nearest cent and percents to the nearest tenth of a percent. Item Cost Amount ofMarkup Selling price Percent MarkupBased on Cost Dress $65.00 $ $ 80%The markup on a new diamond ring should be 25% based on selling price. If the seller paid $4,325.00 for one, then how much should it be sold for to achieve the desired markup?
- Put the following steps of the purchasing process in the correct order. Label # 1 being the first step a purchaser would take in purchasing for a food and beverage operation , and so on with #8 being the last step in the process . Note, not all steps in the purchasing process are included in this question .) Develop Standard Specification Forms. Requisition. Receive and store products. Cost analysis to ensure purchasing process is efficient and effective. Establish purveyor contracts and relationships. Develop purchase orders with purveyors. Check inventory to determine purchase quantities on hand. Determine customer needs and expectations.What is the name of the discounting method that is used to attract new customers?Life insurance policy needs differ from one to another. Sometime we are not sure what kind of policy and coverage that we be needed. Kindly advice on how to determine the objective of buying life insurance policy and describe the factors that influence the policy prices.