Calculate the net price factor and single equivalent discount. For convenience, round your answers to five decimal places when necessary. Trade Discount Rate 20/18/15 Net Price Factor Single Equivalent Discount
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![Calculate the net price factor and single equivalent discount. For convenience, round your answers to five decimal places when necessary.
Trade
Discount
Rate
20/18/15
Net Price
Factor
Single
Equivalent
Discount](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fbd5ca586-ef73-47ac-9620-7bccb84273ae%2Ff25a1ec5-3347-4f06-96dd-c3551ad19adb%2Famsjcs_processed.png&w=3840&q=75)
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- Identify 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.Give an example of a product that has a price that you find difficult to classify as beinghigh or low. Explain why. Explain why fine dining establishments must have very high markups over the cost oftheir foods. Is it possible to be a low-priced fine dining establishment? Should a distributor get a higher margin on a product’s sale than the manufacturer? Howdo you feel about this? What advantages can a convenience store chain, such as 7-eleven, have over traditionalsari-sari stores? How about disadvantages? Give an example of a locally made product that you believe will have a good chance ofcompeting in a regional market. Explain why. Give an instance when a customer care person gave you unsatisfactory service. What wasthe reason and why do you think it happened? How would you address this situation inorder to prevent it from happening again?https://www.bartleby.com/questions-and-answers/which-factors-indicate-the-possible-lowest-and-the-highest-price-that-can-be-set-on-a-product-a.-the/418c3500-9ce5-4f7b-aa33-3a4889e7b62b WHICH FACTORS INDICATE THE POSSIBLE LOWEST AND THE HIGHEST PRICE THAT CAN BE SET ON A PRODUCT? a. THE NEWNESS OF A PRODUCT AND ITS AVAILABILITY b. FIXED COSTS AND CUSTOMER'S PERCEPTION c. COMPETITORS' PRICES d. THE DEMAND FUNCTION e. NONE OF THESE
- A consumer purchases a flat iron to straighten her hairfor $150 from a salon at which she gets her hair cut.If the salon’s markup is 40 percent and the wholesaler’smarkup is 15 percent, both based on their sellingprices, for what price does the manufacturer sell theproduct to the wholesaler? (AACSB: Written and OralCommunication; Analytical Thinking)Ethics and PricingPeople feel better when they think they are getting a great bargain when they shop.Knowing this, some retailerâs markup items above the traditional retail price and thenoffer a 60 percent discount. If they had simply discounted the normal retail price by 20percent, the resulting âsale priceâ would have been the same. One retailer says that heis just making shoppers happy that they got a great deal when he inflates the retailprice before discounting. Significantly marking up prices in order to offer âdeep discountsâ is not an unethicalpricing practice per se, but it may be considered misleading advertising. The retailer isnot really reducing its profits as a result of offering the sale price, even though a 60percent discount implies a financial sacrifice on the part of the retailer for the benefit ofthe customer. The situation described above could, perhaps, be considered a sales…Suppose you have been hired as the pricing manager for a drugstorechain that typically adds a fixed percentage onto the cost of eachproduct to arrive at the retail price. Evaluate this technique. What wouldyou do differently?
- The cost of doing business and establishing retail pricing are directly related to a business's bottom line. Therefore, if there is a change in the cost of goods, it will affect the profitability of a business that has set prices for its products. 1. How might profitability and market share be affected if retail pricing fluctuates depending on the cost of raw materials? 2. Why do you believe that to be the case? 3. Why is it important that a company's pricing objectives fit well with its marketing objectives? Please number your response for each question (1, 2, and 3).The cost of doing business and establishing retail pricing are directly related to a business’s bottom line. Therefore, if there is a change in the cost of goods, it will affect the profitability of a business that has set prices for its products. 1. How might profitability and market share be affected if retail pricing fluctuates depending on the cost of raw materials? 2.Why do you believe that to be the case? 3. Why is it important that a company’s pricing objectives fit well with its marketing objectives? Please number your response for each question (1, 2, and 3).Dollarama stores focus on serving buyers who have relatively modest means. This is an example of aconveniencebvalue pricingcmarket segmentationdtarget marketing
- Describe the concept of price elasticity! Why it is for a monopoly less profitable to act inmarkets with high price elasticity? What can a monopolist or a firm with market power do, inorder to increase the profits? (use graphs)What measurement issue is hedonic pricing meant to fix? Be specific as possible as why as measurements without it can fail to capture what the relevant statistic was designed to capture. How does it work in practice?What is psychological pricing, and how is it used by sellers? Give an example.
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