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- how will Reed’s competitors react to HL Reed's price cutExplain the various types ofpricing objectives.✓ Which ones usually will result ina firm having lower prices?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…
- Describe the two types of psychologicalpricing other than prestige pricing.M/s. Reliable Incorporates wants you to assist in pricingstrategy and ensuring how could it reach to the clients thereby wanting to increase the profitability of the business. A) For success of any business organization, the most important factor in marketing mix is Location, Location, Location (Place/Distribution)” Assuming the fact, list down the various methods of channel distribution strategies and advise one such strategy for M/s. Reliable Incorporates with appropriate views?“Kellogg's” and “General Mills” are two of the dominant breakfast cereal manufactures in the world. Among other advertising campaigns, each company is trying to sign an exclusive contract with an Olympian gold-medal athlete to appear on the cover of a cereal box. The contract is expected to be worth several millions of dollars!How would you expect the pricing behavior of “Kellogg's” and “General Mills” to be? Justify your answer clearly. What do you believe the rationale behind the generous advertising budgets these companies have
- what pricing approach is it when an athletic commission prices different hockey tickets depending upon stadium seat location (closer or further from the ice, behind the goalkeeper, etc.) 1. Bundling 2.Peak Load Pricing 3.Indirect Segmentation Price Discrimination 4.Direct Segmentation Price Discrimination 5.Complete Price DiscriminationWhat factors must beconsidered when pricingproducts?✓ How does a change in priceaffect the demand and supply ofa product?What are the advantages of competitor-based pricing? What are the risks of using competitor-based pricing exclusive of other approaches and Identify a few industries in which taking competitor-based pricinginto account might be especially beneficial when developing anoverall pricing strategy. What caused you to select the industriesyou did?
- 1. Explain the importance of price segmentation in the following: · Buyer · Seller · Competitive Market 2. Explain what is price segmentation hedges. 3. Explain the advantages and disadvantages of price promotion.Does Trader Joe’s employ good-value pricing or value- added pricing? Explain.Assume Netflix applies different pricing for corporate buyers than for individuals, even if the content of the package is the same. What type of pricing strategy does the different options offered to individuals and businesses represent? a. Predatory pricing. b. First degree price discrimination. c. Second-degree price discrimination. d. Third degree price discrimination. e. Market segmentation.