EBK PRINCIPLES OF MARKETING
17th Edition
ISBN: 9780134461434
Author: Armstrong
Publisher: YUZU
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Chapter 10, Problem 10.8CTE
Summary Introduction
To discuss: The pricing strategy recommended for the product.
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.
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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!
THE MARKETING OPPORTUNITY
Suppose your roommate just invented an electronic pencil that senses when a word being written is misspelled, beeps, and shows the correct spelling on a small screen on the side of the pencil.
Your roommate comes to you for advice and money. She figures the pencil can be manufactured for about $5, since the cost of computer chips has dropped so low. She will make you a 40% owner if you help manufacture and sell the pencils. She asks you to put up $500 for materials for the first 100 units. She asks that you help make and sell the pencils after classes.
Since your roommate is studying electronic engineering, she knows about as much about marketing as you know about electronics. You agree to study the possibilities. You make a list of questions that need to be answered before you commit your $500.
Write a response that includes your answers to the following questions.
What need does this product fill?
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Imagine you are the product manager for Neutrogena’s sun protection product line and your team developed a new type of sunscreen. Which two B2B pricing tactics would you use to promote it? Why?
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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- Which pricing strategy (or maybe a combination of strategies) is best for your product/service? Why? How did you come to this conclusion? What price will you offer your product(s) or service for exactly? Will you use any promotional strategies?arrow_forwardToy'r'us Discuss buyer reactions to pricing strategies employed in the toy retailing industry. How can you explain this reactions?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_forward
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- 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_forwardProduct is the good or service being marketed. Price is how much customers have to pay to buy the product. Promotion is the methods of informing, reminding, and persuading customers to buy the product. Place is the distribution channels used to get the products to the customers. What u need to do is u need to find the 4Ps that can relate to the company Dairy Queen, from the websites I listed below. You can use other websites but Make sure to use references from 2018-2021 and PLEASE INCLUDE THEM otherwise it's going to be hard to find them. Don't use someone else research. I mainly need Promotion and Place. Please don't reject my question. No plagarism! https://topdigital.agency/case-study/dairy-queen-fan-engagement-campaign/ https://www.delish.com/food/a19422310/things-you-should-know-before-eating-dairy-queen-ice-cream/ https://azdailysun.com/business/sweet-success-for-flagstaff-ice-cream-parlor-owners/article_ffa7191f-c8d0-5fe7-9cc6-e009af5410c6.html…arrow_forwardIn what stage of the product life cycle is the Reading Rainbow television program? Has the mobile app changed that? Explain. (AACSB: Written and Oral Communication; Reflective Thinking)arrow_forward
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