MARKETING:REAL PEOPLE,REAL CHOICES
10th Edition
ISBN: 9780135199893
Author: Solomon
Publisher: RENT PEARS
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Chapter 10, Problem 10QA
Summary Introduction
To explain: The price customization with price segmentation, peak load pricing and surge pricing along with some ways by which marketers can meet the needs of bottom-of-the pyramid customers.
Introduction:Price customization refers to adjusting the price level as per the customers need and also making a profit at the same time. The amount of profit made on each sale varies since price charged from each customer is different.
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MARKETING:REAL PEOPLE,REAL CHOICES
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- Nowadays, regardless of gender, everyone is taking care of their appearance and skin health but is conscious of price. Marketers tend to make tedious study on trying to understand customers, demand and requirements of specific target market to fix the price. Think of a personal care product or brand that you like (e.g., moisturizer, lotion, face wash, shampoo, toothpaste etc.) and discuss the pricing strategy you as manager will adopt for your company. Give reason why you adopted particular pricing strategy.arrow_forwardWhat’s the significance of market segmentation in connection to price structure?arrow_forwardSuppose you have been asked by a food company to design an experiment that examines consumers’ purchase intentions toward their product (i.e., cereals), as a result of their recent pricing strategies (i.e., low price, high price) and product quality (i.e., organic offerings, nonorganic offerings) strategies. Basically, they would like to know the best combination of product quality offering and pricing strategy that yields the highest levels of consumers’ purchase intentions. How would this experiment look like? When working on this assignment, you should consider the following: Subjects: The experiment participants should be customers who consume significant breakfast cereals and are diverse in terms of income group, age group and work type. Experimental conditions: Independent variables – quality (categorical), price Dependent variable – Propensity to pay Effects: The main effect shall be impact of independent variables on propensity to pay such as how much affect does quality or…arrow_forward
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