MARKETING: REAL PEOPLE...ACCESS CARD
11th Edition
ISBN: 9780137684649
Author: Solomon
Publisher: INTER PEAR
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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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- Why is pricing important for consumers in the process of decisions making?arrow_forwardThe cost of procured goods and services are very important to public sector buyers. Whilst this is true what other factors are also important?arrow_forwardEthical Issues in Prescription Drug Pricing Is setting prices based on one’s willingness to pay fair? Does it create value for customers? Does it create value for the firm? What are the ethical concerns with the price strategy utilized by EpiPen?arrow_forward
- What is the aviation industry's cost structure? How does it stack up against other modes? What impact does this have on pricing, especially for passengers?arrow_forwardResearch your company and determine their pricing on all of their products/services? Are they competitive in their pricing? Are they higher or lower than the competition? What type of pricing strategies do they use (refer to your text)? What do you feel about their pricing decisions? The company I chose is Walmartarrow_forwardA primary marketing objective of all competitors in mature markets is simply to: Increase price to maximize profits. Increase market penetration. Hold their existing customers. Market their products to a new market. All of the abovearrow_forward
- How can pricing be used as a tool for market segmentation and targeting?arrow_forwardWhy setting prices for business products is different from setting prices for consumer products?arrow_forwardE3 1. Think of a product that you ought to sell as an entrepreneur/ businessman in the future. Describe the product.2. How much price do you ought to charge on your product?3. What are your reasons for your price? Justify the price of your product based on the input cost, value of the product and customer perception.arrow_forward
- One 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_forwardNowadays, 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_forward
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