Q18 15. Most airlines offer the same service with very littledifferentiation. Air travel is usually infrequent andoften involves a fairly high expenditure. Given thesefacts, consumers often shop for the best, lowest price.Such consumer behavior is best described as.a. HabitualComplexb. Variety Seeking d. Dissonance Reducing16. Southwest Airlines sticks to a very basic, no-frillsmodel – just the flight at a reasonable cost. Shuttle byUnited tries to build upon the basic flight by offeringother benefits such as first-class seating and otheramenities. These additional amenities might best bedescribed as:a. Actual Productb. Product Attributes d. Extended Productc. Core Product17. Augustine Medical is faced with a decision about howto price the Bair Hugger heating system. What weknow is that it doesn't have a patent on the blower andit is easy to copy, so competitors are likely to enter themarket. What kind of new-product pricing strategy doyou recommend for the BLOWER?a. Market Penetration c. Market Skimmingb. Premiumd. Deep Discounting18. Augustine DOES have a patent on the disposableblanket, so it is not easily copied. Even if they price itvery high (10 times more than cost) they still are pricedvery competitively in the marketplace. And they canalways lower the price on this unique product graduallyover time. This describes what kind of new productpricing strategy?a. Market Penetration c. Market Skimmingb. Premiumd. Cherry Picking

Question 18: Setting up pricing is one of the most important feature of any successful product.…

18. Augustine DOES have a patent on the disposable blanket, so it is not easily copied. Even if they price it very high (10 times more than cost) they still are priced very competitively in the marketplace. And they can always lower the price on this unique product gradually over time. This describes what kind of new product pricing strategy? a. Market Penetration c. Market Skimming b. Premium d. Cherry Picking

18. Augustine DOES have a patent on the disposable blanket, so it is not easily copied. Even if they price it very high (10 times more than cost) they still are priced very competitively in the marketplace. And they can always lower the price on this unique product gradually over time. This describes what kind of new product pricing strategy? a. Market Penetration c. Market Skimming b. Premium d. Cherry Picking

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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Concept explainers

Forecasting

Forecasting is a methodology that uses historical data as inputs to make well-informed predictions about the course of future trends. Forecasting is the method of making forecasts based on historical and current data, most commonly by trend analysis. In the business world, forecasting is a basic statistical task. Forecasting is used by businesses to decide how to allocate their budgets or prepare for expected expenditures in the future. Forecasts help managers formulate and execute production plans by providing forecasts. The primary goal of forecasting is to make accurate predictions.

Question

Q18

15. Most airlines offer the same service with very little
differentiation. Air travel is usually infrequent and
often involves a fairly high expenditure. Given these
facts, consumers often shop for the best, lowest price.
Such consumer behavior is best described as.
a. Habitual
Complex
b. Variety Seeking d. Dissonance Reducing
16. Southwest Airlines sticks to a very basic, no-frills
model – just the flight at a reasonable cost. Shuttle by
United tries to build upon the basic flight by offering
other benefits such as first-class seating and other
amenities. These additional amenities might best be
described as:
a. Actual Product
b. Product Attributes d. Extended Product
c. Core Product
17. Augustine Medical is faced with a decision about how
to price the Bair Hugger heating system. What we
know is that it doesn't have a patent on the blower and
it is easy to copy, so competitors are likely to enter the
market. What kind of new-product pricing strategy do
you recommend for the BLOWER?
a. Market Penetration c. Market Skimming
b. Premium
d. Deep Discounting
18. Augustine DOES have a patent on the disposable
blanket, so it is not easily copied. Even if they price it
very high (10 times more than cost) they still are priced
very competitively in the marketplace. And they can
always lower the price on this unique product gradually
over time. This describes what kind of new product
pricing strategy?
a. Market Penetration c. Market Skimming
b. Premium
d. Cherry Picking

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