EBK PRINCIPLES OF MARKETING
17th Edition
ISBN: 9780134461434
Author: Armstrong
Publisher: YUZU
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Chapter 10, Problem 10.2DQ
Summary Introduction
To discuss: The two types of value-based pricing methods.
Introduction:
The pricing strategy that fixes the prices at first but not completely as per the perceived or estimated value of the product to the consumer is known as value-based pricing.
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Name and describe the two types of value-based pricing methods. (AACSB: Written and Oral Communication)
Describe the cost-plus pricing method and discuss why marketers use it even if it is not the best method for setting prices. (AACSB: Written and Oral Communication)
• What is the role of price in an organization's
marketing plan?
1. Profit
2. Sales
3. Market share
4. Survival
5. Social Responsibility
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
- 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 (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_forwardThe 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 Liangarrow_forwardWhat types of retailers offer pricing objectives that are a good fit for ourbrand?arrow_forward
- Can Lululemon continue to succeed by employing the same premium-pricing strategy? Explain.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 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.arrow_forward3. Evaluare how Toy'R' US has responded to Wal-Mart's pricing strategyarrow_forward
- Imagine 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_forwardHAPEE TOOTHPASTE - LAMOIYAN CORPORATION Marketing Strategies Pricing Strategies 1. Product-mix Pricing Strategy A. Rationale/ Analysis B. Pricing Strategy objectives C. Process (Step-by-step) D. Expected outcomearrow_forwardHow 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_forward
- What is the difference between loss leader and leader pricing?Give an example of when retailers would use each of thesepricing strategiesarrow_forwardCOMPANY Case Target: From "Expect More" to "Pay Less" slowdown, posting quarterly increases in same-store sales of dose to 5 percent along with substantial jumps in profits. When you hear the term discount retail, two names that usually come to mind: Walmart and Target. The two have been compared so much that the press rarely covers one without at least mention- ing the other. The reasons for the comparison are fairly obvious. These corporations are two of the largest discount retailers in the United States. Category for category, they offer very similar mer- chandise. They tend to build their stores in close proximity to one another, even facing each other across major boulevards. But even with such strong similarities, ask consumers if there's a difference between the two, and they won't even hesitate. Walmart is all about low prices; Target is about style and fashion. The "cheap chic" label applied by consumers and the media over the years per- fectly captures the Íong-standing…arrow_forwardMcDonald’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?arrow_forward
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