Foundations of Business - Standalone book (MindTap Course List)
4th Edition
ISBN:9781285193946
Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher:William M. Pride, Robert J. Hughes, Jack R. Kapoor
Chapter12: Creating And Pricing Products That Satisfy Customers
Section: Chapter Questions
Problem 17CC
Related questions
Question
Answer Activity 3
![BUYER TYPES
1. Value buyers
2. Brand buyers
3. Price buyers
4. Convenience buyers
THREE SITUATIONS ARISE UNDER PRICE ELASTICITY
5. Products that have inelastic demand will be highly priced
6. Products that have more than elastic demand will be priced low
7. Products that have elastic demand will be reasonably priced.
FACTORS AFFECTING PRICING DECISION
8. Organizational Objectives
9. Costs
10. Legal and Regulatory Issues
11. Product Characteristics
12. Competition
13. Distribution Channels
14. Price Elasticity of Demand
15. Competitor's pricing Policies
ACTIVITY 3: FILL OUT THE TABLE:
TYPES
OF BUYER
CHARACTERISTICS IF YOU ARE A MARKETER, HOW ARE YOU GOING TO HANDLE THOSE TYPE
OF BUYERS?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F5c5c3cd1-69de-4149-a6aa-949b2df85edc%2F877e222c-7c3e-44e3-896d-cc8d414fb986%2Fs5hkjn_processed.jpeg&w=3840&q=75)
Transcribed Image Text:BUYER TYPES
1. Value buyers
2. Brand buyers
3. Price buyers
4. Convenience buyers
THREE SITUATIONS ARISE UNDER PRICE ELASTICITY
5. Products that have inelastic demand will be highly priced
6. Products that have more than elastic demand will be priced low
7. Products that have elastic demand will be reasonably priced.
FACTORS AFFECTING PRICING DECISION
8. Organizational Objectives
9. Costs
10. Legal and Regulatory Issues
11. Product Characteristics
12. Competition
13. Distribution Channels
14. Price Elasticity of Demand
15. Competitor's pricing Policies
ACTIVITY 3: FILL OUT THE TABLE:
TYPES
OF BUYER
CHARACTERISTICS IF YOU ARE A MARKETER, HOW ARE YOU GOING TO HANDLE THOSE TYPE
OF BUYERS?
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