Principles Of Marketing
17th Edition
ISBN: 9780134492513
Author: Kotler, Philip, Armstrong, Gary (gary M.)
Publisher: Pearson Higher Education,
expand_more
expand_more
format_list_bulleted
Concept explainers
Question
Chapter 10, Problem 10.6CTE
Summary Introduction
To determine: The break-even for the food truck business.
A pricing strategy considers portions, capacity to pay, economic situations, contender activities, trade margins and input costs, among others. It is focused at the characterized customers and against contenders.
Summary Introduction
To determine: The changes that are considered.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solutionStudents have asked these similar questions
Explain why fine dining establishments must have very high markups over the cost of their foods. Is it possible to be a low-priced fine dining establishment?
As a computer manufacturer, you face the daunting challenge of catering to consumers' needs for affordable products without sacrificing quality or performance. Provide us with details on the method you'd use to produce high-quality equipment at affordable pricing.
Thinking about the hotel industry, I'm wondering does the hotels use long run pricing or short run pricing in business?
Chapter 10 Solutions
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
Knowledge Booster
Learn more about
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
- Describe what you are selling (1 item only): What is the price you will sell at to sustomer: How will you explain to potential customers WHY they should buy your product? If your total costs to run the company is $5,000 per month, how many do you have to sell each month to cover your costs? Show your calculation! Do you think this is a realistic number to achieve each month? Explain your answer. In case sales go slower than expected, come up with a volume discount offer for customers and describe how it will work in the box below: (for example if you buy 5 items instead of 1, you will give customer a 10% discount).arrow_forwardAssume you are considering opening a retail business. You are trying to decide whether to have a traditional “brick-and-mortar” store or to sell only online. Explain how the activities and costs differ between these two retail arrangements.arrow_forwardAlicia is a self-employed hair stylist who owns her own salon. She has asked you to consult with her on how to generate more revenue. Using the price adjustment strategies discussed in the chapter, advise Alicia on her options to increase overall sales.arrow_forward
- Suppose you plan to start your own enterprise to manufacture a shawl quite different from existing kasmir shawls available in the local market. Give a complete account on target market, pricing strategy , channels of distribution. Give your justifications for all these decisionsarrow_forwardYou are looking to buy a laptop on a budget that requires you to service and repair the laptop yourself, and you want to save money by not purchasing an extended service agreement beyond the first year. To limit your search, what should you consider when choosing manufacturers? Which manufacturers would you choose and why?arrow_forwardShopbots are online sites for finding the best prices on goods you need. No shopbot searches the entire internet, so its a good idea to use more than one to get the best deals. Furthermore, not all shopbots quote shipping and handling costs. Imagine you want to buy a new headset and are considering investing in Beats. Go online to find reviews and prices. Here are some shopbots to try: MySimon.com, PriceGrabber.com, PriceSCAN.com and YahooShopping.com Which of the shopbots offers the most information? How helpful are the consumer reviews? The product descriptions? Which shopbot is easiest to use? The hardest? Why? Write down some of the prices you find online and then go to a local store, such as Walmart or Target, and compare prices. Does either source (online or brick-and-mortar) consistently offer the best price? Compare shopping online to shopping in stores. What are the advantages and disadvantages of each? Which has the best total product offer?arrow_forward
- A firm has developed a new roofing material that also produces electricity from sunlight. This material is very light and inexpensive. Besides roofing, it could also provide an inexpensive carport covering for open-air parking lots. The firm has hired you as a consultant for the successful national launch of this product. You are required to present a report to the senior management describing when and where this product should be launched. Identify different segments of the market for launching this product. Recommend which segments of the product should be targeted first for maximum returns to the firm and support your recommendation.arrow_forwardWeek after week, consumers shop for many of the same groceries. At some point, the product may be priced the same and look the same as before but with less in the package. If consumers are not made aware of the change, is this deception? Is this different from deceptive pricing? Over the past several years, careful shoppers may be spending about the same amount of money at the grocery store but leaving the store with a lighter load in their grocery bags. Food prices on many items have increased, and food manufacturers are facing the same challenges as consumers. With increases in raw materials and transportation, making a profit requires a very sharp pencil. According to Phil Lempert, editor of SupermarketGuru.com, “The reality is, if you look at USDA projections, food is going to get more expensive. And as a result, food companies are going to do one of two or three things: Raise prices and keep packages the same, or reduce the quantity in the package. Or do a little of…arrow_forwardWhat other factors besides the base selling price established by pricing formulas must operators consider when setting menu prices? Use an actual restaurant as an example to defend your opinion.arrow_forward
- Look up the following site to evaluate restaurants’ pricing strategies based on reviewers’ perceptions of service levels, guest type, product quality, ambiance, location, and much more! www.zagat.com First, choose a city. Then click on your specific restaurant criteria or just click on “Most Popular.” Then click on any restaurant for a review that includes a features list, reviewers’ ratings, prices, and much more! Look at several restaurant reviews. Evaluate whether you think the menu prices and the features/review are a “good fit,” in your opinion. Spend about 30 minutes viewing this site!arrow_forwardThink about the last time you went to a shop, and consider how many different products there were to choose from, all of which have different prices Explain how pricing affects you as a consumer. Include the following details: An example of a time when you were faced with two identical or similar options and chose the cheaper option and explain why; If there are any products or services you feel you cannot compromise on price for, and why or why not; and How pricing affects your satisfaction with a product or service.arrow_forwardYou have recently been appointed as the marketing manager of a 100-room hotel located in the central business district (CBD) of a major city. You are shocked when you are told by the Chief Operating Officer (CEO) that the hotel does not employ revenue management. You have read that a revenue management pricing strategy applied in the hotel context can increase revenues by up to 17%. You immediately call a meeting so that you have an opportunity to: a) briefly outline how revenue management works in the hotel industry; and b) convince management of the benefits of implementing a revenue management strategy. What would you discuss in such a meeting?arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios