Sparkling Valley, a luxury resort, prices cottages facing the lake higher than cottages that do not, even though the cottages and services offered are identical in every other aspect. This form of pricing is called pricing. * O Location-based By-product Seasonal Captive product
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- What is Bait Pricing?What factors might explains why various retailers can still charge different different price for the Sam products over the internet, despite that it resembles perfect marketMcDonald’s sells Happy Meals for as low as $2.50 and Value Meals for as high as $5.50. How would you describe this pricing strategy? What segmentation variables are being used?
- Define shadow price (or dual value)?Is subscription pricing likely to be as popular withcust- omers as it is becoming with many product suppliers?Why or why not?Critical Thinking Some retailers have used decoy pric- ing to increase the number of sales of a higher priced alternative. Describe decoy pricing. What are some products that would be good choices for decoy pric- ing? Is this practice ethical? Why or why not?
- What is location-based pricing?СOMPLETE MЕ Complete the table below by supplying it with products that you consider similar. Write the product and not the brand in their respective columns. Then describe and differentiate its characteristics and uses. Primary Product (Product name) No. Substitute Product (Product name) Example Butter - expensive price use as bread Margarine - lesser price also used as bread spread spread 4. 5. 1. 2. 3.Retail Price Comparison To demonstrate the wide variation in pricing of an identical item, visit three different stores online and compare prices on similar items. Please do not just get on Amazon and compare prices there for an item. Actually visit different independent store websites. It might be really interesting to visit a local store's website and a national store's website, comparing pricing for the same item. 1. Select a category of store. Some suggestions are: Grocery: large chain store, local chain store, convenience store Health and beauty aids: grocery store, drugstore, discount store Over-the-counter drugs: chain drugstore, local drugstore, discount store Clothing: specialty store, department store, discount store 2. Select several items to compare in your category. For example, in the grocery category, you may want to compare a type of cereal, a canned soup, and a snack item. If possible, you might check prices at a local store…