Principles Of Marketing
17th Edition
ISBN: 9780134492513
Author: Kotler, Philip, Armstrong, Gary (gary M.)
Publisher: Pearson Higher Education,
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Chapter 10, Problem 10.8CTE
Summary Introduction
To discuss: The pricing strategy recommended for the product.
A pricing strategy considers portions, capacity to pay, economic situations, contender activities, trade margins and input costs, among others. It is focused at the characterized customers and against contenders.
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How do marketers use psychological pricing to communicate something about the product? (AACSB: Written and Oral Communication)
Imagine that you are the newly hired brand manager for a T-shirt company whose new line is about to come out. Because of a major fashion magazine’s very positive review of the line, the company wants to reposition the brand as a premium youth (teens & young adults) brand. Your boss asks what price you should charge for the new T-shirt line. The current line, considered mid-range retail, is priced at $20.
• Describe what method would you use? Why?
• What do you think is the right price? How did you arrive at that?
You are welcome to do some online research.
Thank you for helping me!
THE MARKETING OPPORTUNITY
Suppose your roommate just invented an electronic pencil that senses when a word being written is misspelled, beeps, and shows the correct spelling on a small screen on the side of the pencil.
Your roommate comes to you for advice and money. She figures the pencil can be manufactured for about $5, since the cost of computer chips has dropped so low. She will make you a 40% owner if you help manufacture and sell the pencils. She asks you to put up $500 for materials for the first 100 units. She asks that you help make and sell the pencils after classes.
Since your roommate is studying electronic engineering, she knows about as much about marketing as you know about electronics. You agree to study the possibilities. You make a list of questions that need to be answered before you commit your $500.
Write a response that includes your answers to the following questions.
What need does this product fill?
What are the target markets for such a product?
What type…
Chapter 10 Solutions
Principles Of Marketing
Ch. 10 - Prob. 10.1DQCh. 10 - Prob. 10.2DQCh. 10 - Prob. 10.3DQCh. 10 - Prob. 10.4DQCh. 10 - Prob. 10.5DQCh. 10 - Prob. 10.6CTECh. 10 - Prob. 10.7CTECh. 10 - Prob. 10.8CTECh. 10 - Prob. 10.9ACCh. 10 - Prob. 10.10AC
Ch. 10 - Prob. 10.11ACCh. 10 - Prob. 10.12ACCh. 10 - Prob. 10.13ACCh. 10 - Prob. 10.14ACCh. 10 - Prob. 10.15VCCh. 10 - Prob. 10.16VCCh. 10 - Prob. 10.17VCCh. 10 - Prob. 10.18CCCh. 10 - Prob. 10.19CCCh. 10 - Prob. 10.20CCCh. 10 - Prob. 10.21CCCh. 10 - Prob. 10.22CCCh. 10 - Prob. 10.23MMLCh. 10 - Prob. 10.24MML
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- A consumer purchases a flat iron to straighten her hairfor $150 from a salon at which she gets her hair cut.If the salon’s markup is 40 percent and the wholesaler’smarkup is 15 percent, both based on their sellingprices, for what price does the manufacturer sell theproduct to the wholesaler? (AACSB: Written and OralCommunication; Analytical Thinking)arrow_forwardImagine you are the product manager for Neutrogena’s sun protection product line and your team developed a new type of sunscreen. Which two B2B pricing tactics would you use to promote it? Why?arrow_forwarddeveloped a new weight-loss breakfast Shake that has proven to be successful in the test market phase. Users have experienced an average weight loss of two pounds per week. You hold a patent on the product. The cost to produce the shake is relatively low, with total manufacturing costs running about $0.05 per ounce. Each shake is eight ounces. What pricing strategy do you recommend for this product?arrow_forward
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