Explain the comparison of pricing strategies mentioned above. Your explanation needs to be evaluated through aspects of customer, company and product interests.
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Q: Cost plus pricing is a logical method of pricing since it takes into account current demand,…
A: Cost plus pricing is a pricing strategy in which the price of the goods which is to be sold is…
Q: is
A: Talking about the difference between the cost based pricing and customers value based pricing then,…
Q: type of pricing approach will you adop
A: The price is defined as the amount which us expected in exchange of a product or service from one…
Q: How to Choose a price strategy to help determine a base price?
A: Price is mainly a psychological concept where it acts as a perceived value in the eyes of the…
Q: Describe and give examples of some of the followingtypes of pricing objectives: profit, market…
A: To fix the price of any products or services, the companies will choose the suitable pricing…
Q: Describe the three pricing methods discussed in the textbook ( cost-based, demand- based,…
A: Pricing strategies can be referred to as a marketing strategy that is utilized by organizations to…
Q: In cost-based pricing. price is considered along with all other marketing mix variables before the…
A: In pricing decisions, there are several considerations. In cost-based pricing, the cost of…
Q: How does the target cost method differ from the cost-plus pricing method? Which would you prefer?…
A: Target costing determines a product's life-cycle cost, which should be sufficient to create…
Q: Differentiate the application of Price Penetration from Price Skimming and give examples for each…
A: Pricing methods in marketing means to find out the value of a product at which the company wants to…
Q: Distinguish pricing based on the cost life cycle and pricing based on the sales life cycle, and give…
A: Product life cycle is the progress of the product from when it is created to when it is…
Q: Elaborate on 4 different pricing strategies that companies can utilize? Explain when would each of…
A: Note: I have answered for 1st question. kindly post the 2nd question separately. Pricing strategy is…
Q: example of each of the major categories of pricing objectives.
A: Pricing is the mechanism by which a company determines the price at which it will offer its goods…
Q: Insights about "Good pricing involves finding a balance between the customer's desire to obtain good…
A: Ans. In the end, the purchaser decides whether or not a product’s worth is right. Therefore, beyond…
Q: List and briefly explain what internal factors companies must consider for pricing decisions. How…
A: Price is the monetary value set by the firm for its goods and services. It is also a psychological…
Q: define the other important external and internal factors affecting a firm’s pricing decisions.
A: A company will always price its products in such a way that the profits and demand are the highest.…
Q: What is the main (most important) way that Cost-Based Pricing is different from Customer Value Based…
A: Cost based prcing refers to pricing bases on cost of production, distribution, and a fair return for…
Q: what is the best pricing strategy for a start-up?
A: The principle point of the administration of each association is to benefit by actually getting the…
Q: what pricing recommendation would you make to the CEO?
A: Pricing determines that the efforts companies have put in till now will be fruitful or not. The…
Q: main product pricing strategy
A: Product pricing is crucial activity for business. Finding an appropriate pricng strategy is very…
Q: provide information on the state Farm insurance company's product price strategies, including…
A: Pricing strategies are a form of marketing strategies utilized by the organizations to determine the…
Q: Create a poem that contains the information about the factors affecting pricing decisions
A: PRICING DECISION:The decision that has to taken by the company to sell the product or service at…
Q: What is the purpose of Pricing Strategy? Why is it important to charge the right price?
A: Pricing strategy is a method used by the company to label prices on the goods and services provided…
Q: Give example of any pricing adjustment strategy applicable to a particular service.
A: There are various ways through which prices are adjusted on the basis of the company. Discount and…
Q: At a strategic meeting of your company, other managers in the meeting want to know the company’s…
A: Pricing refers to setting a price for a product or service at which it will be sold in the market…
Q: How does cost-plus pricing strategy affect the company's performance and how they benefit from this?
A: Business strategy can be defined as the plan that is prepared by the top management of an…
Q: Identify the three major pricing strategies and discuss the importance of understanding…
A: Pricing: It means the price fixed for the value going to be derived by the customer by using the…
Q: First review the topics below and select one. Once selected, include the concept, a description of…
A: The product life cycle is the process of the length of time from the product being introduced to…
Q: Of the various pricing objectives, which one does Under Armour appear to be pursuing in its…
A: The fulfilment of consumer expectations for their products is Under Armor's primary goal. They can…
Q: You have recently been appointed as the Marketing Manager of a Dog Grooming Business. The leadership…
A: Pricing strategies refer to the marketing strategy which is used to determine the prices of products…
Q: What are the five major categories of pricing strategies? Give at least two examples of specific…
A: A company can make use of various pricing strategies to sell their product or service in the market.…
Q: Compare JCPenney’s former traditional approach to pricing versus the “Fair and Square” pricing…
A: Price is a psychological concept where it acts as a perceived value in the eyes of the customers.…
Q: Why must marketing objectives and pricing objectivesbe considered when making pricing decisions?
A: Pricing objectives should be considered when making pricing decisions as they are the most important…
Q: * What should Phonic's primary pricing objective be? Explain your reasoning. * Are smart phone…
A: Phonic corporation is based in Taiwan and engages in the production of audio equipment like…
Q: Select a basis for pricing your product (cost, demand, and/or competition). How will you know when…
A: Price setting distresses the regular lives of the customers in several ways. The price of the…
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- Pricing Q: What are different factors that should be considered by marketers before deciding price of the product? Q: How the total cost is determined/calculated by company for deciding price of the product? Q: What is breakeven point? How is it calculated? Q: How the net profit is calculated? Q: write the following procedures and formulas for calculating price? a. Cost Plus pricing b. Breakeven pricing c. Return on investment pricing d. Value based pricing Q: Write the methods for determining pricing of new products?Pricing Q: What are different factors that should be considered by marketers before deciding price of the product? Q: How the total cost is determined/calculated by company for deciding price of the product? Q: What is breakeven point? How is it calculated? Q: How the net profit is calculated? Q: Consult your book and write the following procedures and formulas for calculating price? Cost Plus pricing Breakeven pricing Return on investment pricing Value based pricing Q: Write the methods for determining pricing of new products?The advantage of using the cost-plus pricing strategy is: Select one: a. It considers market and customer information b. It ensures that the business covers all product costs and earns a profit. c. It removes any costs that do not add value to the product. d. It looks at the relationship between price and quantity demand.
- Suppose you have been asked by a food company to design an experiment that examines consumers’ purchase intentions toward their product (i.e., cereals), as a result of their recent pricing strategies (i.e., low price, high price) and product quality (i.e., organic offerings, nonorganic offerings) strategies. Basically, they would like to know the best combination of product quality offering and pricing strategy that yields the highest levels of consumers’ purchase intentions. How would this experiment look like? When working on this assignment, you should consider the following: Subjects: The experiment participants should be customers who consume significant breakfast cereals and are diverse in terms of income group, age group and work type. Experimental conditions: Independent variables – quality (categorical), price Dependent variable – Propensity to pay Effects: The main effect shall be impact of independent variables on propensity to pay such as how much affect does quality or…Consider the advertisement for a gutter cleaning service shown below. What is the external reference price in this ad? According to the course material, an advertisement could attempt to frame a price as a single loss, as two losses, as a gain and a loss, or as a gain foregone. Which one of those framings is this advertisement attempting to accomplish? Explain your reasoning. If your internal reference price for gutter cleaning service was $125, how would you perceive this advertised price of the company’s gutter cleaning service? Would you perceive it as a single loss, as two losses, as a gain and a loss, or as a gain foregone? Explain your reasoning.What is the main reason for establishing pricing objectives? a. to give direction for price movements over the product life cycle b. to define the initial pricec. to establish a good understanding of the market and the needs of the consumerd. to interact with the other elements of the marketing mix
- Which of the following most likely represents the reason firms attempt to implement sound marketing principles (i.e., the process of creating, distributing, promoting, and pricing goods and services) as part of their overall strategic direction? In other words, sound marketing techniques: Help the firm explain to potential customers A why they must charge such high prices. Help the firm lower their transportation B costs. Help the firm facilitate satisfying exchanges with their most valued customers, which in turn, promotes long term profitable relationships with this same group. Help the firm develop more effective D advertising campaigns.As a marketing manager, you are asked by the company leadership to formulate the right pricing strategy for the company's two TV broadcast programs, namely: (1) Hi-tech(H) program which contains engineering, science and technology; and (2) the Wildlife(W) program which contains adventure, vacation, and flora-fauna. There are at least 2 customer groups targeted by the program: (a) Geeks, and (b) Regular. For each group, the number of customers and their WTP values are presented in the table below. Groups Number of Customers Hi-tech Wildlife Geeks 3000 15 4 Regular 10000 3 8 Assuming that the production cost for the two programs is 0, then:a. Mention 3 pricing strategies that can be applied.b. Calculate the price level and profit earned by each strategy.c. As a manager, which pricing strategy did you choose? State why.Suppose a manufacturer of exercise equipment sets a suggested price to the consumer of $395 for a particular piece of equipment to be competitive with similar equipment. The manufacturer sells its equipment to a sporting goods wholesaler who receives 25 percent of the selling price and a retailer who receives 50 percent of the selling price. What demand-oriented pricing approach is being used, and at what price will the manufacturer sell the equipment to the wholesaler?
- Which of the following statements about pricing objectives is true? a. Unit volume is not a type of pricing objective because it is a production strategy. b. Firms that are interested in strategic planning set their objectives to maximize current profit. c. Profit objectives are frequently measured in terms of return on investments. d. Market share and unit volume are synonymousIf an item is particularly valuable to a customer, using customer-based pricing might suggest a price that is higher than the one that would be indicated by use of a standard markup. Describe a situation where the use of customer-based pricing would suggest a price that is lower than the one that would be indicated by use of a standard markup.Below is an actual job description for a sourcing and procurement internship position that was available at Disney Consumer Products/Studios. Based on the information in the job description, create accountabilities, objectives, and standards for this position. TITLE Graduate Associate, Sourcing, & Procurement (Disney Consumer Products/Studios) THE POSITION Provide analytical support for sourcing projects impacting business units, specifically targeting Disney Consumer Products & Studios. Benchmark current pricing models and develop new approaches to pricing/buying various products and services that yield creative and business advantage. Support the continuing efforts to increase the percentage of spend influenced, specifically as it relates to business units where we have had only a minor impact. Assist in the development of spend profiles, key stakeholder lists, savings opportunities where existing contracts are leveraged, savings opportunities in commodity areas that…