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what is the price adjustment lag and how does it affect the price variation method
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- Explain how a firm can increase its profit by price discriminating. How does it determine optimal prices? How does the existence of substitute products affect the firm’s pricing policy?Explain in your own words and also give examples of how price gouging is harmful for the customers and predatory pricing good for them?Explain the Demand Determinant of Price?
- Explain these psychological aspects of pricing: price quality inferences, odd-even pricing. internal reference price. price lining, and prestige pricing.Explain the pricing strategy and argue about the reasons that motivate companies to sell a product below its normal price (dumping).What is price elasticity? Why is it important for marketers to consider price elasticity when making pricing decisions?
