Why do we say that the "Rip-off," "False Economy," and "Overcharging" strategies are not market-oriented strategies? Are there instances when | any of these price positions may be justifiable? Explain.
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Why do we say that the "Rip-off," "False Economy," and "Overcharging" strategies are not market-oriented strategies? Are there instances when | any of these price positions may be justifiable? Explain.
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- Has Cath Kidston executed value-based pricing, cost-based pricing or competition-based pricing? Explain.In the following scenarios, you will be given a product and an event. Determine what will happen to the demand for the product based on the event, what happens to the demand curve, and give the non-price determinant that caused it to occur. (chose from the 7 determinants listed in the notes). The first one is answered for you as an example. Example a. Product - Hamburgers Event - The price of steak increases Example answer a. Demand increases - Curve shifts right - Price of substitutes b. Gym memberships Society becomes more health conscious. c. Golf Balls The price of golfing increases. d. Spam (Inferior good) There is an decrease in people’s salaries. e. Pepsi The price of Coke decreases dramatically. f. Steak Incomes fall due to the recession g. Hair dye Hair…Is the seller a price leader (sets new pricing levels in the market), or a price fol-lower (only matches price increases/decreases when the competition does so)?
- Explain grafically the Considerations in setting price?Define Willingness to sell?1,) Explain the price-demand relationship. What factors must sellers consider when setting prices in different type of markets? 2)list two new products pricing strategies . give an example for each one to show each strategy look like.
- 12 Jim's Camera shop sells two high-end cameras, the Sky Eagle and Horizon. The demands and selling prices for these two cameras are as follows. Ds = demand for the Sky Eagle Ps= selling price of the Sky Eagle DH = demand for the Horizon PH = selling price of the Horizon = 223 - 0.60P + 0.35PH DH=270+ 0.10P - 0.64PH Revenue Ds The store wishes to determine the selling price that maximizes revenue for these two products. Develop the revenue function R (in terms of Ps and PH only) for these two models, and find the revenue maximizing prices (in dollars). (Round your answers to two decimal places.) Price for Sky Eagle Price for Horizon Optimal revenue R = PS = $| PH = $ R = $6. Exercise 4.6 An econometrician hired to analyse a local golf course has determined that there are two types of golfers, the regular and the occasional. The annual demand for games from regular players is given by QH = 24 - 0.3P, where P is the price of a round of golf. On the other hand, the annual demand for occasional items is given by Q° = 10 - 0.1P. The marginal cost and the average total cost per item are equal to €20. a) If you could distinguish between regular and casual players, what price would be set for each type? How many games would each type of player play? How much profit could the golf course generate? Represent graphically. b) As an alternative to the discrimination of third degree prices, those in charge consider a double tranche rate according to which the members can play as many games as they wish at a price of € 20 per game. How much profit will the golf course generate if it charges all players the same annual fee for becoming a member of the club? What if you…Give typing answer with explanation and conclusion Graphically illustrate and explan the impact of expensive and erratic electrivity on the market for Ferrochrome?