Price comparison sites such as trivago.com and pricegrabber.com havebeen created for a variety of products and services. These sites allowconsumers to see the prices from a variety of vendors and let themchoose the lowest-priced option without visiting different websites.What are the benefits of these sites to the firm? What are the benefits toconsumers?

Q: When can you use different pricing strategies and what are their suitable product categories?

A: Introduction:- Pricing refers to that element of the marketing mix that creates revenue for the…

Q: Price strategy is one of important component of service marketing. Why is the pricing of services…

A: Various businesses which provide services do not come up with a good and fair and profitable price…

Q: Review the various types of pricing strategies. Which of these is the most appropriate for…

A: Price is the monetary value charged by the producer in exchange of the product or services by the…

Q: all of the following are commonly used to create a hurdle for price-sensitive consumers to overcome…

A: b) Group PricingBusinesses that offer discounts to groups of customers use group pricing. This is…

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: Sparkling Valley, a luxury resort, prices cottages facing the lake higher than cottages that do not,…

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: What are the four drawbacks to cost-based pricing?

A: Firms price their products in different ways. Correct pricing for the services and products provides…

Q: Discuss the different pricing strategies a seller can use along with the key features of each.…

A: Pricing strategy can be explained as the strategy that the company uses to price its products and…

Q: How can a business that is using "ideal standards" to set prices under a cost-plus method…

A: COST-PLUS PRICING METHOD: This is a type of pricing strategy that simply means selling the goods or…

Q: Explain who sets / drives prices in restaurants? Is it the the customers and/or suppliers?

A: The pricing of menu items in restaurants is a strategic process that involves a delicate balance…

Q: Why would a price skimming strategy probably not work for a “me-too” product, something very similar…

A: Price skimming is a strategy where a company sets a high initial price for a new or innovative…