EBK MARKETING
10th Edition
ISBN: 9780135199992
Author: Stuart
Publisher: YUZU
expand_more
expand_more
format_list_bulleted
Concept explainers
Question
Chapter 10, Problem 7QA
Summary Introduction
To explain: The influence of competitive environment, government regulation and consumer trends on prices. Influence of global environment on pricing strategies.
Introduction:Global environment involves all the micro and macro factors present in the environment in which the company is operating which can have a substantial effect on operations of a firm. It involves international components also.
Expert Solution & Answer
Trending nowThis is a popular solution!
Students have asked these similar questions
Under what environmental conditions are price wars likely to occur in an industry? What are the implications of price wars for a company?
Explain how a firm can increase its profit by price discriminating. How does it determine optimal prices? How does the existence of substitute products affect the firm’s pricing policy?
How price competition can be avoided ?
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
- The three factors that affect pricing decisions for marketers are: Value-Based Pricing, Cost-Based Pricing, and Competition-Based Pricing. Explain them.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_forwardWhy is pricing important for consumers in the process of decisions making?arrow_forward
- Discuss the following for the Ebay Company: Select a single product for your firm and set a price according to multiple pricing approaches. For instance: Competition-based: Briefly supply the appropriate data and explain how your price relates (at-, above-, or below-the-market). Which of the methods do you believe most closely reflects your firm’s pricing method? Why?arrow_forwardThe Services industry is one of the most affected by the COVID-19 outbreak, and to be able to hype up the industry, think of new or innovative ways on how to help boost it. With given travel agency in Philippines called: Creative Travel Agency Discuss the proposed pricing strategies of your chosen company and compare them with their direct and indirect competitors. Choose 1 direct and 1 indirect competitor. Do not forget to cite your references/websites.arrow_forwardHow can you protect your retail store from these competitive threats in terms of Price Strategy?arrow_forward
- 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_forwardState the Pricing Strategy for Irish spring Bar Soap . There are three main pricing strategies in chapter 9 Pricing. Please include which one yours falls into. Customer value-based, cost-based, or competition-basedWhat other considerations could affect pricing your product? Such as new competition entering the market or a decline in the economy.Include observations about the closest competitive product and its relative pricing.arrow_forwardFrom the point of view of consumers, why are the incentives of price cap regulation superior to those of cost-plus regulation?arrow_forward
- product: Starburst coffee Define properties of product & target markets by using micro and macroeconomic concepts in lectures. Which market segments and different pricing strategies can you imaginefor the product Think of developments in demand in different markets domestically and globally. How will demand develop in these markets? What is the effect of the recession on the demand for your product? How could government policies in different markets affect the demand for your product?arrow_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_forwardOne 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_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
- Contemporary MarketingMarketingISBN:9780357033777Author:Louis E. Boone, David L. KurtzPublisher:Cengage Learning
Contemporary Marketing
Marketing
ISBN:9780357033777
Author:Louis E. Boone, David L. Kurtz
Publisher:Cengage Learning