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What is the role of cost in pricing?

What is the role of cost in pricing?

Practical Management Science
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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1. What is the role of cost in pricing?

2. Pricing strategies work best when they take into consideration the four major pillars of pricing:

     2.1 customers

     2.2 current positioning

     2.3 competitors

      2.4 costs Explain each pillar.

3. Of the so many pricing strategies explain at least four pricing strategies that should be used in pricing either product or service

4. What are the steps in developing effective marketing communication? Explain each clearly.

5. How are you going to set the price in each phase of the product life cycle? Explain each clearly.

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