What profit-based pricing approach should a manager use if he or she wants to renect the percentage of the firm"s resources used in obtaining the profit?
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What profit-based pricing approach should a manager use if he or she wants to renect the percentage of the firm"s resources used in obtaining the profit? |
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- A firm wants to stop its sales agents from pricing too aggressively to make sales by requiring the agent to obtain a marketing manager’s permission to reduce price below a specific threshold. This solution would only work if a) The marketing manager has no information about the matter at hand b) The marketing manager can only get all the information on the case from the sales agent c) Enough unbiased information is transferred to the manager to prevent an unprofitable price reduction d) All of the above Please clearly explain your answerhow can a company determine the optimal skimming price for a new product?Suppose a manufacturer of exercise equipment sets a suggested price to the consumer of $395 for a particular piece of equipment to be competitive with similar equipment. The manufacturer sells its equipment to a sporting goods wholesaler who receives 25 percent of the selling price and a retailer who receives 50 percent of the selling price. What demand-oriented pricing approach is being used, and at what price will the manufacturer sell the equipment to the wholesaler?
- How can a business that is using "ideal standards" to set prices under a cost-plus method (specifically the Product Cost Concept), actually set the selling prices of their products too low?Pricing Q: What are different factors that should be considered by marketers before deciding price of the product? Q: How the total cost is determined/calculated by company for deciding price of the product? Q: What is breakeven point? How is it calculated? Q: How the net profit is calculated? Q: write the following procedures and formulas for calculating price? a. Cost Plus pricing b. Breakeven pricing c. Return on investment pricing d. Value based pricing Q: Write the methods for determining pricing of new products?If an item is particularly valuable to a customer, using customer-based pricing might suggest a price that is higher than the one that would be indicated by use of a standard markup. Describe a situation where the use of customer-based pricing would suggest a price that is lower than the one that would be indicated by use of a standard markup.
- 1. As an entrepreneur, one of the most significant and strategic decisions you will ever make during the life cycle of your new venture will be one of selecting your pricing approach and setting your initial price. Few decisions have such wide-ranging implications for the success of the venture, especially as this decision directly impacts every area of the business, such as customer acquisition, the break-even point, and profitability. Research several newly emerging start-ups that are focused on product-based offerings for the consumer sector that you find interesting. Select one and in a two-page paper using the principles from the text, identify, assess, outline, and analyze the totality of the pricing models, pricing strategies, and pricing decisions. Also include whether you agree with each and be sure to explain your answer (if you do not agree, indicate what changes would you make).For ENTR550, Entrepreneurial Marketing at Keller School of ManagementAPA format, include…Pricing Q: What are different factors that should be considered by marketers before deciding price of the product? Q: How the total cost is determined/calculated by company for deciding price of the product? Q: What is breakeven point? How is it calculated? Q: How the net profit is calculated? Q: Consult your book and write the following procedures and formulas for calculating price? Cost Plus pricing Breakeven pricing Return on investment pricing Value based pricing Q: Write the methods for determining pricing of new products?Describe the basic market forces that are relevant to pricing and decision-making for companies. Include the following: What information would you want to have in order to make sound pricing decisions? With financial information, there is often some level of uncertainty and estimation. How would you explain any risk or uncertainty about information to senior management? How would you suggest monitoring and responding to competitors' pricing actions?
- 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.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?If you were planning on creating an online financial brokerage service, how would you approach creating a pricing strategy with consideration to marginal cost, demand, the elasticity of demand, no of competitors, no. of substitutes, prices of similar products on the market etc.