Marketing
14th Edition
ISBN: 9781259924040
Author: Roger A. Kerin, Steven W. Hartley
Publisher: McGraw-Hill Education
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Question
Chapter 14, Problem 8AMK
Summary Introduction
To determine: Whether there is truth in the given statement.
Introduction:
The method that is adopted by the firm to fix the selling price is known as pricing. The pricing generally depends on the average cost and the perceived value of the product.
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. In a pure single market would these price differentials exist? By what process might price
differentials be eradicated?
Is there any truth in the statement, “Geographical pricing schemes will always be unfair to some buyers”? Why or why not?
Explain how a firm can increase its profit by price discriminating. How does it determine optimal prices? How does the existence of substitute products affect the firm’s pricing policy?
Chapter 14 Solutions
Marketing
Ch. 14.1 - Prob. 14.1LOCh. 14.1 - Prob. 14.1LRCh. 14.1 - Prob. 14.2LRCh. 14.1 - Prob. 14.3LRCh. 14.1 - Prob. 14.4LRCh. 14.1 - Prob. 14.5LRCh. 14.2 - Prob. 14.2LOCh. 14.3 - Prob. 14.3LOCh. 14.4 - Prob. 14.4LOCh. 14.4 - Prob. 14.6LR
Ch. 14.4 - Prob. 14.7LRCh. 14.4 - Prob. 14.8LRCh. 14 - Prob. 1AMKCh. 14 - Prob. 2AMKCh. 14 - Prob. 3AMKCh. 14 - The Hesper Corporation is a leading manufacturer...Ch. 14 - Prob. 5AMKCh. 14 - Prob. 6AMKCh. 14 - Prob. 7AMKCh. 14 - Prob. 8AMKCh. 14 - Prob. 1VCCh. 14 - Prob. 2VCCh. 14 - Prob. 3VCCh. 14 - Prob. 4VCCh. 14 - Prob. 5VC
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- What a company should do when any of its products are in the declining stage? What are the problems of basing point pricing and zone pricing?arrow_forwardWhat is price elasticity? Why is it important for marketers to consider price elasticity when making pricing decisions?arrow_forwardWhat might make it difficult to determine the prices of one’s competitors? When such difficulties occur, what could be done to surmount them?arrow_forward
- Under what environmental conditions are price wars likely to occur in an industry? What are the implications of price wars for a company?arrow_forwardWhat is the difference between a skimming price strategy and a penetration pricing strategy? Under what circumstances is each likely to be used?arrow_forwardLet's say you have opened a new retail supermarket. You have two competitors, one 2 KM away, and the other 3 KM blocks away, from your store. Please explain, with two very clear reasons, what type of pricing approach will you adopt?arrow_forward
- EXPERIENTIAL EXERCISES Conduct a price comparison of several hotels or restaurants in the same class. What price differences did you find? Do you feel the companies that had the higher prices could justify those higher prices by offering additional features or a higher-quality product?arrow_forwardState the Pricing Strategy for Irish spring Bar Soap . There are three main pricing strategies in chapter 9 Pricing. Please include which one yours falls into. Customer value-based, cost-based, or competition-basedWhat other considerations could affect pricing your product? Such as new competition entering the market or a decline in the economy.Include observations about the closest competitive product and its relative pricing.arrow_forwardDiscuss the relationship of price to value. Does a low price necessarily mean a better value? Give an example to illustrate your opinion. How can a firm offer good value in a mature market where price seems to be the only visible means of differentiation?arrow_forward
- Competition Pricing is compared to what board game? Why and how the principles of this game can be applied to competition pricing?arrow_forwardWhy or why not should food and wine be in a similar price range when matching them?arrow_forwardDevelop 4 separate pricing policies for companies? Explain when they will be more suitable for use?Talk about 2 key pricing tactics for a new product?arrow_forward
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