Principles Of Marketing
17th Edition
ISBN: 9780134492513
Author: Kotler, Philip, Armstrong, Gary (gary M.)
Publisher: Pearson Higher Education,
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Chapter 11, Problem 11.22MML
Summary Introduction
To discuss: Implementation of segmented pricing and conditions required for success.
Segmented pricing is fixing different prices in reference to the product forms, customers, times, and location. For example: Seasonal pricing in booking of hotel rooms. Discounts provided on booking bulk orders.
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• What is the role of price in an organization's
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1. Profit
2. Sales
3. Market share
4. Survival
5. Social Responsibility
Discuss, How do businesses develop pricing strategies and tactics within their marketing plan to maximize profitability and competitiveness?
Describe the difference between an everyday low pricing (EDLP) strategyand a high/low strategy
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- How can pricing be used as a tool for market segmentation and targeting?arrow_forwardWhy would retailers risk violating any of the legal issues discussed in this chapter, such as predatory pricing, price fixing, deceptive pricing, bait and switch, or discriminatory pricing? Explain your respond.arrow_forwardWhat’s the significance of market segmentation in connection to price structure?arrow_forward
- What are some ways that a company's marketing mix might give it a competitive edge? How can a company benefit from a well-executed marketing strategy? Why is it necessary to acknowledge the significance of the marketing mix in the formulation of marketing strategies? For the entrepreneur, which pricing scheme makes the most sense? Explain your answer. What are the most important considerations to keep in mind when choosing a location? Can I use what I've learned here when I start my own business in the future? In the event that you were granted the opportunity to start your own business, what would you sell and where would you sell it? What marketing strategies do you have in mind?arrow_forwardHow can retailers create effective pricing strategies that balance profitability with customer value?arrow_forwardin terms of marketing how would you identify and discuss the important internal and external factors affecting a business’s pricing decision. Use examples to illustrate your answerarrow_forward
- What is algorithmic pricing?arrow_forwardIdentify two stores at which you shop, one of which uses everyday lowpricing and another that uses a high/low pricing strategy. Do youbelieve that each store’s chosen strategy is appropriate for the type ofmerchandise it sells and the market of customers to whom it isappealing? Justify your answer.arrow_forwardHow to achieve and improve micro business production and pricing scheme"?arrow_forward
- In what situations is cost-based pricing most suitable for businesses?arrow_forwardwhy are ethical concerns important issues when designing service pricing and revenue management strategies?arrow_forwardWhat would be the best questions comparing potential market, available market, qualified available market, and served market for a business?arrow_forward
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