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- The target market generally determines the menu pricing strategies. mention the factors that a restaurants’ owner/manager must consider in order to determine the restaurant price list? and explain the restaurants’ pricing strategies?A study indicated that the optimal price for a consumer product is $32.45. Most products in the market sell for $29.99. What price would you suggest to retailers for selling the product and why? A haute cuisine restaurant is opening down the street, and its owner asks you for advise on pricing. Should you suggest that the restaurant price an appetizer at $6.99 or $7, and why?When competition is the dominant factor in pricing a product or service, what is the best cost estimation approach to use? äbäi Yo
- How likely is the sales manager will be successful in the short term in cut the price as strategy to stimulate interest and convince other business operators to buy products from our company?Describe what you are selling (1 item only): What is the price you will sell at to sustomer: How will you explain to potential customers WHY they should buy your product? If your total costs to run the company is $5,000 per month, how many do you have to sell each month to cover your costs? Show your calculation! Do you think this is a realistic number to achieve each month? Explain your answer. In case sales go slower than expected, come up with a volume discount offer for customers and describe how it will work in the box below: (for example if you buy 5 items instead of 1, you will give customer a 10% discount).How can Competitive pricing, website traffic and gross profit be used to measure the success of the a new clothing store.
- List and explain four key influencers on pricing decisions . A new customer ABC Ltd, wants to buy 500 units of your product, but is only prepared to pay RM4 per clock. This will not cover the total cost of making the product, but it will cover the variable costs – anything over RM3 makes a Provide and discuss three factors that you would take into account when deciding whether or not to take the order.Discuss the methods that entrepreneurs use to set the products/services price. Give some examples.Can you create a Quantitative Strategic Planning Matrix (QSPM) for a travel agency which offers an all in one package. Accomodation, excursions and car rentals.
- Please read below scenario in which a consumer explains how she made purchasing decision for a car. First of all, I decided on the price and security features of car. Then, I determined my criteria about other features such as the oil amount consumed per 100 km, diesel or gasoline and so on. When I searched for information on the Internet, I felt that Brand X can offer me favorable alternatives. I visited one of the showrooms of Brand X. I loved this red car and purchased it. Please select the name of Hierarchy of Effects that the consumer likely used. a) The Standard Learning Hierarchy b) The Low-Involvement Hierarchy c) The Experiential Hierarchy d) All the aboveLook up the following site to evaluate restaurants’ pricing strategies based on reviewers’ perceptions of service levels, guest type, product quality, ambiance, location, and much more! www.zagat.com First, choose a city. Then click on your specific restaurant criteria or just click on “Most Popular.” Then click on any restaurant for a review that includes a features list, reviewers’ ratings, prices, and much more! Look at several restaurant reviews. Evaluate whether you think the menu prices and the features/review are a “good fit,” in your opinion. Spend about 30 minutes viewing this site!Should a firm pursue differentiation in an industry where customers are very price-sensitive? Use real-life example(s) to illustrate your answers.