Q: To what extent is the price most important factor in ensuring a company can maximise profits
A: The price of a product is vital in ensuring a company can maximize profits in the market. Price is…
Q: Direction: Describe or interpret the given illustrations in 2-5 sentences only. Margin -…
A: Ans. Margin and markup are generally confused and used interchangeably by the people but they are…
Q: In this method a price reduction is given to customers based on the quantity of their purchase. a.…
A: if we talk about discounts and allowances so we can say that are reductions to a basic price of…
Q: The inefficiency of second best pricing is larger.. Select one: a. all the other alternatives are…
A: The second best pricing refers to the next best alternative price which could be choosen if the…
Q: 1.4)Over the past year, you and your friend have decided to embark on a new business venture, you…
A: The five aspects, which I will consider when developing the price of the new product are as follows
Q: Pricing decisions, like other marketing mix decisions, must start with customer value. O True False
A: In marketing, pricing decisions are crucial as the customers buy a product that has perceived value…
Q: The markup on a new diamond ring should be 25% based on selling price. If the seller paid $4,325.00…
A: The mark up on the new diamond ring is 25%. Selling price is combination of selling price and the…
Q: An approach services use to set prices according to changing market conditions is known as
A: Price is the monetary value assigned to a good or service, and it is the outcome of a complicated…
Q: With an overall cost of goods totaling $64,000 and sales of $181,000, what is the food cost…
A: Food cost percentage is a proportionate measurement between total inventory cost and total sales.…
Q: XYZ companies is selling razors at $4.99 so the consumers will perceive it as 4 dollars instead of 5…
A: In the current case, XYZ sales razor . When any company come up in the market they need to decide…
Q: 15- The retailer who sets prices below its costs to drive competitive retailers out of business is…
A: Predatory pricing: Predatory pricing refers to the low pricing of products set by one retail…
Q: Assuming A&F’s gross profit margin is 60 percent and cost of goods sold represents the only…
A: Assuming A&F’s gross profit margin is 60 percent and cost of goods sold represents the only…
Q: The late entrants in the market have opportunity to charge skimming price. True False
A: Ans. Introduction Price skimming is an item estimating technique by which a firm charges the most…
Q: means that differences in pricing across customers and changes over time reflect differences or…
A: Value based pricing means that differences in pricing across customers and changes over time reflect…
Q: Give some terms other than “price” that are commonly used to refer to prices.
A: Companies, Organizations, Retailers and many more use different terms to indicate the price of the…
Q: A thin market is one which has many buyers, many sellers and a large number of transactions, making…
A: Thin Marketing- Thin marketing on any financial exchange is a period that specifies low numbers of…
Q: A company’s offering represents the bundling of the tangible good, the intangible service, and the…
A: Today the way of doing business is changing and so is marketing. A company’s marketing plan…
Q: a company is going to launch few health and hygiene related products in the market. However, a…
A: Pricing strategies refer to the marketing strategy that is used to determine the prices of products…
Q: A producer of microwave ovens has adopted an experience curve pricing approach for its new model.…
A: As per experience curve pricing approach, the product unit cost declines by 10 to 30 percent always…
Q: Pricing that is adopted to influence the perception of the value of the product by comparing the…
A: Pricing: Pricing refers to setting a value for the product based on the required cost to manufacture…
Q: what is an amount deducted from the list price that is granted by a supplier of goods/services on…
A: When a supplier reduces or deducts any amount of price from the specifically listed price of the…
Q: ________ is the price that the suppliers require the buyer to pay for the product: Select one: a.…
A: The amount paid by the buyers to purchase the product from the seller is the price. IT helps in the…
Q: Many Firms offer a “Buy 4, Get 1 Free” card to encourage customer loyalty What is the price…
A: 1) Price segment concept that support such an offers - Price segment process is generally means when…
Q: All of these statements about price are true except which? Multiple Choice The price must…
A: Price can be defined as some compensation (in monetary terms) that is given by an individual to…
Q: 3. Give an example of a product that challenges the market leader by offering a slightly lower…
A: A company becomes a market leader when its products are getting sold in the maximum quantity and far…
Q: What are the three possible starting points for the process of setting an initial price as…
A: There seem to be varied instances within which a vendor ought to devise a price for an item that…
Q: The terms shadow price and reduced cost mean the same thing.
A: The correct answer is False.
Q: Implementing Price Strategy is the firm readiness to sell the product which would be effective if…
A: The pricing strategies can be volatile for the industries of garments and apparel. The industry…
Q: Assume a fixed cost of $900, a variable cost of $4.50, and a selling price of $5.50. What is the…
A: Given details: Fixed cost = $ 900 variable cost = $4.50 Selling price = $ 5.50
Q: Pricing usually occurs during which step in the sales business process? A. contract creation B.…
A: Billing process occurs after a sale is made. Billing is done to keep a record of the sales that has…
Q: Pricing Scenario: You just won a new laptop in a contest, and you decide to sell your old one. You…
A: Laptop is not a necessary good, so its demand is elastic. More the change in price will lead to more…
Q: The retailer who sets prices below its costs to drive competitive retailers out of business is…
A: A firm or company uses various pricing strategies to sell the product in the market. The pricing…
Q: Market skimming pricing refers to which of the following? O a. Offering low price in the beginning…
A: Market skimming pricing is a strategy that involves pricing the services or the products relatively…
Q: In a sales rebate contract, a rebate is paid by supplier for any items sold above certain. Select…
A: ANSWER: OPTION (A) IS THE CORRECT ANSWER. REASON: Supplier providing direct incentive for retailer…
Q: A small percentage in price can generate a large percentage in profitability. *
A: The price is defined as the amount that is being expected in the exchange of goods or services.
Q: Product line pricing refers to setting a price for by-products in order to make the main product’s…
A: Yes, Its True! By-product pricing refers to setting a price for by-products to make the main…
Q: If an item is particularly valuable to a customer, using customer-based pricing might suggest a…
A: Customer based pricing is the method of pricing where a company sets price for the products or…
Q: What are different factors that should be considered by marketers before deciding price of the…
A: Disclaimer: “Since you have asked multiple question, we will solve the first question for you. If…
Q: Walmart has a policy that they will match any competitor's price- sometimes all the customer has to…
A: This Pricing strategy refers to matching a lower price of a product within a store from the…
Q: The most likely strategy to reduce the break-even point should be to 1. Increase fixed costs 2.…
A: Break-Even point refers to a point or situation when a company gets to a state or sales level that…
Q: Why do most demand curves demonstrate an inverse relationship between price and quantity?
A: According to the law of demand and supply, the price of a good is inversely related to the quantity…
Q: A manufacturer of motor oil has a trade discount policy whereby the manufacturer’s suggested retail…
A: The margin of any product is the the sales price minus the cost. This cost is mainly the variable…
Q: Many researches have indicated that; if potential customers know more about the company and the…
A: In this manner a Potential Customer is somebody who is equipped for turning into a buyer of item and…
Q: 1. Suppose you are the producer of a product with a manufacturer's suggested retail price of $1000.…
A: Question 1 A. What does the retailer Pay? ANSWER: The question statement confirms that the retailer…
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- Pricing is an uncontrollable element of the marketing environment.; True or Falsein price can generate a large percentage A small percentage in profitability. • PRICE O Improvement - decrease Deterioration - increase Manipulation - increase O Improvement- increaseF2 Define the five considerations of the price variables. - (W) @ V A B I F3 #, 3 £ E D I F4 DC * $ 4¢ R F F5 010 123 COO DO DO F6 % 5 ¤ COO T G EE D O 10 F7 84 A ? 6 n GO Y H F8 & 7 Ca 202 U F9 * ∞ 8 2 US X₂ x² F10 ( 9 K F11 3 0 0 F 1
- involves introducing a low price for a product or service to encourage consumers to try a new product in order to build sales and product loyalty. This is * O Psychological Pricing Extension Pricing Skimming Pricing O Penetration Pricing Gillette is a famous brand with branches in several countries around the world; it is specialized in producing razors for men and women. Gillette designs its packaging and advertising messages differently according to whom the product will be sold. Therefore, the company devises different ways to sell the razors to men and women. Women's razors are packaged in soft, gentle colors such as pink, whereas the packaging for men's razors are predominated by black, gray. red, and orange. This is an example of Market segmentation based on location Market segmentation based on gender Market Mix Capital goodsA thin market is one which has many buyers, many sellers and a large number of transactions, making the price discovery process relatively simple. A. True B. FalseExplain 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…
- 13) Adidas combines a bunch of products including sneakers, socks, and sportswear and sets a price for this bundle which is lower than the sum of individual prices of products, this is an example of product-bundle pricing. Select one: a. True b. FalseThe more formal "business 3 points attire" look of corporate dress of the 1980s and 1990s gave way to the "business casual" look of the 2000s and 2010s. This is an example of a: * Business Casual vs. Business Fad Style O Subculture FashionWhich of the following price adjustment strategies involves reducing prices to reward customer responses such as volume purchases, paying early, or participating in sales-support programs? O a. discount and allowance pricing O b. captive product pricing O c. dynamic pricing O d. product bundle pricing O e. product line pricing A Moving to another question will save this response. « < Question 26 TOSHIBA DEL SNI PAA FB F10 F12 F9 BACK SPACE 7 V 8A99 0 TYYIU
- Describe information that consumers may perceive from price. For example, some consumers think that if an item has a high price, then it will probably be better than its competitors. That may or may not be true.Discuss the following briefly. 1. Pricing 2. Price 3. Payment 4. Costing 5. Cost Please answer 1-5. Thank youWhen 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