EBK PRINCIPLES OF MARKETING
17th Edition
ISBN: 8220103613774
Author: Armstrong
Publisher: YUZU
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Chapter 10, Problem 10.24MML
Summary Introduction
To Determine: The cost-plus pricing method and the reasons why marketers use it even it is not the best approach for price setting.
Cost plus pricing:
The essentials of cost plus pricing procedure is that it sets costs for goods and services, which takes care of the expense of manufacturing and it gives adequate profit margin to the firm to achieve its target return. The organization chooses the limitations that it needs from the item, and after that includes the margin on the top of the cost to go to an trading value.
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Students have asked these similar questions
Explain how has Radant Beauty used the elements of its marketing mix to meet the needs and wants of its target market (Generation Me).
Your answer must clearly indicate the specific activities that Radiant Beauty undertook under the headings of PRICE and CONSUMER BENEFITS
Notes:
The answer should go beyond merely regurgitating the actual price quoted in the case and clearly explain the pricing strategy that the company utilized.
Answers must be relevant to the case and must be based on sound marketing principles and the insights you gleaned from analyzing the case.
• What is the role of price in an organization's
marketing plan?
1. Profit
2. Sales
3. Market share
4. Survival
5. Social Responsibility
The plan should describe the marketing mix elements (product, price, place, promotion).o Product Strategy – you may use the three levels of the product as a basis to explain the product features, attributes, and/or packaging and others.o Pricing strategy -o Place Strategy – distribution channel and physical distribution activitieso Promotion Strategy - Marketing communication tools and mediums
Product : iBasket - Guopeng Liang Guopeng Liang
Chapter 10 Solutions
EBK PRINCIPLES OF MARKETING
Ch. 10 - Prob. 10.1DQCh. 10 - Prob. 10.2DQCh. 10 - Prob. 10.3DQCh. 10 - Prob. 10.4DQCh. 10 - Prob. 10.5DQCh. 10 - Prob. 10.6CTECh. 10 - Prob. 10.7CTECh. 10 - Prob. 10.8CTECh. 10 - Prob. 10.9ACCh. 10 - Prob. 10.10AC
Ch. 10 - Prob. 10.11ACCh. 10 - Prob. 10.12ACCh. 10 - Prob. 10.13ACCh. 10 - Prob. 10.14ACCh. 10 - Prob. 10.15VCCh. 10 - Prob. 10.16VCCh. 10 - Prob. 10.17VCCh. 10 - Prob. 10.18CCCh. 10 - Prob. 10.19CCCh. 10 - Prob. 10.20CCCh. 10 - Prob. 10.21CCCh. 10 - Prob. 10.22CCCh. 10 - Prob. 10.23MMLCh. 10 - Prob. 10.24MML
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Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, marketing and related others by exploring similar questions and additional content below.Similar questions
- What types of retailers offer pricing objectives that are a good fit for ourbrand?arrow_forwardExplain how has Radant Beauty used the elements of its marketing mix to meet the needs and wants of its target market (Generation Me). Your answer must clearly indicate the specific activities that Radiant Beauty undertook under the headings of:- PRICE (The answer should go beyond merely regurgitating the actual price quoted in the case and clearly explain the pricing strategy that the company utilized. CONSUMER BENEFITS Notes: Bother answers must be relevant to the case and must be based on sound marketing principles and the insights you gleaned from analyzing the case.arrow_forwardWhat are the traditional approach to pricing a) Marketing b) Cost-plus c) market based d)Value basedarrow_forward
- What is the difference between loss leader and leader pricing?Give an example of when retailers would use each of thesepricing strategiesarrow_forwardOne of the easiest places to see the impact of the Internet on marketing is by looking at its effect on pricing decisions and consumer's perceptions of prices. Since its inception, the World Wide Web (WWW) has developed the reputation as being the place to shop to get the lowest prices. Why has this reputation developed? Why might it be possible to charge lower prices online? Are products really cheaper? To answer this last question, choose two products and find them for sale online (books, CD's, and software work very well). Calculate the total price that would be charged to your credit card, then go to a "brick and mortar" retailer and find prices for the same product there. Make your comparisons. Where is the cheapest place to buy the products that you have selected? What costs go into determining which place you buy your product? Are there any non-financial costs to shopping online? To off-line shopping?arrow_forwardwhat is product policy, price policy, communication, and distribution. detailed answer ı needarrow_forward
- How do you create a 5-page informational brochure will include the following, Role of pricing decisions on the overall company and marketing strategies, Value-based pricing (value-in-use and value-in-exchange), Price skimming and penetration, Management of international distribution channels and logistics, Mass customization, Five aspects of communication, Social media mix, Viral marketing as a viable marketing tactic that can deliver a positive return on investment (ROI)?arrow_forwardName and describe the two types of value-based pricing methods. (AACSB: Written and Oral Communication)arrow_forwardImagine that you are the newly hired brand manager for a T-shirt company whose new line is about to come out. Because of a major fashion magazine’s very positive review of the line, the company wants to reposition the brand as a premium youth (teens & young adults) brand. Your boss asks what price you should charge for the new T-shirt line. The current line, considered mid-range retail, is priced at $20. • Describe what method would you use? Why? • What do you think is the right price? How did you arrive at that? You are welcome to do some online research. Thank you for helping me!arrow_forward
- Why is location-based marketing so attractive to marketers? Why are in-app ads becoming so important to marketers? Research has shown that many consumers use the Internet to investigate purchases before buying, which is often done in a physical storefront. What implication does this have for online merchants? What can they do to entice more online buying rather than pure research? What pricing strategy turned out to be deadly for many e-commerce ventures during the early days of e-commerce? Why? Is price discrimination different from versioning? If so, how?arrow_forwardIdentify 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.arrow_forwardQUESTIONS ARE ABOUT THIS VIDEO:arrow_forward
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