Consumer perceptions of prices are also affected by alternative pricing strategies. Marriott Hotels, for example, has different brands for differing price points. Building upon the Marriott example, please SCAN the environment to find examples of a company whose pricing strategy is closely tied to its branding strategies.
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Consumer perceptions of prices are also affected by alternative pricing strategies.
Marriott Hotels, for example, has different brands for differing price points.
Building upon the Marriott example, please SCAN the environment to find examples of a company whose pricing strategy is closely tied to its branding strategies.
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- Retailers typically use two basic pricing strategies. Explain the advantages of the two pricing strategies and provide examples for each type. When setting prices, what are some important factors that retailers must consider?Can you offer different levels of products or services at different price points? Please identify pricing strategy and how would the customer react to it.Does "value" mean the same thing as "low price"? How do these concepts differ? Pick two competing brands from a familiar product category (watches, perfume, consume electronics, restaurants) - one low priced and the other high priced. Which, if either, offers the greatest value? Why might the strategy for setting a product's price need to be changed when a product is part of a product mix? What are the five product mix pricing strategies? Provide an example of each. (4 points) Alicia is a self-employed hair stylist who owns her own salon. She has asked you to consult with her on how to generate more revenue. Using the price adjustment strategies discussed in the chapter, advise Alicia on her options to increase sales. Please be detailed in your response with why you are choosing each.
- how does consumer pricing differ from business pricing? I'm having trouble with this conceptThe three factors that affect pricing decisions for marketers are: Value-Based Pricing, Cost-Based Pricing, and Competition-Based Pricing. Explain them.What is meant by pricing? Describe any three strategies that can be done by firms if they do not want to increase the price of a product.
- What then is the product’s pricing based on, if not costs? Present the product’s pricing and what the pricing strategy should be for your company’s IT/digital product.One of the easiest places to see the impact of the Internet on marketing is by looking at its effect on pricing decisions and consumer's perceptions of prices. Since its inception, the World Wide Web (WWW) has developed the reputation as being the place to shop to get the lowest prices. Why has this reputation developed? Why might it be possible to charge lower prices online? Are products really cheaper? To answer this last question, choose two products and find them for sale online (books, CD's, and software work very well). Calculate the total price that would be charged to your credit card, then go to a "brick and mortar" retailer and find prices for the same product there. Make your comparisons. Where is the cheapest place to buy the products that you have selected? What costs go into determining which place you buy your product? Are there any non-financial costs to shopping online? To off-line shopping?Marketers may choose from various pricing strategies when selling a product or service. a) Identify and briefly explain five pricing strategies. b) What factors should be considered before selecting the best pricing strategy?
- Discuss the three major pricing strategies in relation to Hammerpress. Which of these three do you think is the company’s core strategic strategy?How is product-line pricing helpful to both retailers and theircustomers?Toy'r'us Discuss buyer reactions to pricing strategies employed in the toy retailing industry. How can you explain this reactions?