Should prices reflect only the cost of making a product or delivering a service? Explain

Q: Provide two examples of sources of customer expectations from which the marketer has limited…

A: The development of new products is aided by the modern marketing paradigm. The marketing concept is…

Q: Week after week, consumers shop for many of the same groceries. At some point, the product may be…

A: Pricing strategy is the aspect of marketing that is concerned with the decision about the price or…

Q: is the term given to mean that consumers can be prevented from buying something due to the price

A: Price is the monetary value set by the company on the product and services. It is the psychological…

Q: Why do organizations struggle to implement and maintain pricing strategy?

A: The price is an integrant of the marketing mix which is of huge concern for both the consumers and…

Q: What is cost-of-service pricing? What is the relationship between value-of-service pric- ing and…

A: Cost service Pricing -  It is the type of pricing which is related with the various things and use…

Q: How can the three main approaches to service pricing be used to come to a good pricing point for a…

A: Some marketers enter into the market by offering services to the customers. These marketers offer…

Q: all of the following are commonly used to create a hurdle for price-sensitive consumers to overcome…

A: b) Group PricingBusinesses that offer discounts to groups of customers use group pricing. This is…

Q: What are the ways of arriving at the price of a product?

A: 1. Know the market: The company needs to find out what customers are looking for, also what the…

Q: How does off-peak pricing influence demand for services?

A: It is a pricing technique to influence the customer for the subscription of the product or service…

Q: Some people claim firms should not sell products at prices below costs. Describe several problems…

A: Pricing strategy is the aspect of marketing that is concerned with the decision about the price or…

Q: How do service businesses use off-peak pricing?

A: Off peak pricing can be explained pricing through which the company charges prices for the goods or…

Q: How can service providers use pricing strategies to create perceived value for their services and…

A: Concept Introduction : Pricing strategies are an important aspect of business strategy that can have…

Q: Explain the Price-Break Model?

A: Quantity discount model (price-break)

Q: How likely is the sales manager will be successful in the short term in cut the price as strategy to…

A: Product's pricing is one of the main aspects of any marketing strategy. A company may either offer a…

Q: Define Fixed Costs?

A: Variable costs are described as the expenses of an organization or a company and it takes into…

Q: Which of the following pertains to the cost that varies as the level of products and services…

A: Total Cost = Fixed Cost + Variable Cost. Marginal cost of production is the additional cost of…

Q: Define the term Escalator pricing ?

A: Pricing objectives are the goals that guide your company in determining the cost of a product or…

Q: Explain, . How would a firm handle a situation where a competitor launches a similar product…

A: Product management is a discipline within business and marketing that focuses on the strategic…

Q: Customers take into account various factors beyond just the monetary value when evaluating the worth…

A: Understanding the idea of "Total Value" is crucial for businesses to properly meet customer…

Q: What is the Demand Determinant of Price?

A: Pricing is the process in which business has to ensure optimal price setting for the purpose of…

Q: How can a business that is using "ideal standards" to set prices under a cost-plus method…

A: COST-PLUS PRICING METHOD: This is a type of pricing strategy that simply means selling the goods or…

Q: how can a company determine the optimal skimming price for a new product?

A: Concept Introduction :- The optimal skimming price is the price point at which a company can…

Q: What pricing strategies to use in convincing buyers to buy items with increasing price

A: Pricing strategies confirm the value corporations set for his or her product. the value is often set…

Q: What are the effects of doing business via online in consumer selection of products or services…

A: The following three elements will influence a consumer's buying decision: Personal Pyschological…

Q: Explain who sets / drives prices in restaurants? Is it the the customers and/or suppliers?

A: The pricing of menu items in restaurants is a strategic process that involves a delicate balance…

Q: At what point does a supplier’s gift or favor depart from a friendly showing of appreciation for a…

A: Consumer/Buyer behavior. Consumer behavior is the study of the behavior of an individual group or…

Q: Describe what is more important for a purchasing transaction, price timing or quality

A: Purchasing is really the act of buying to advance a company's goals.

Q: What profit-based pricing approach should a manager use if he or she wants to renect the percentage…

A: Pricing is the process by which a company determines the price at which it will sell its products…