Brand LU has immediately ascended to the highest point of a yelling market that it assumed a noteworthy job in defining. With roughly 400 stores far and wide, Brand LU hawks its own brand of yoga-enlivened attire with its immediately conspicuous logo. But unmistakably more than selling garments, Brand LU stimulates a picture and a lifestyle. The organization oozes the rationality caught by its proclamation. Certainly, this brand is about dynamic, sound, back-to-nature lifestyle and is not modest about saying as much. That picture, complimented by a "no discounts" philosophy, has a fanatically faithful customer base willing to purchase everything Brand LU with no worry about the high prices. To Discuss: The reasons on whether Brand LU has achieved the identical level of success. Characters in the case: Brand LU. Introduction: Organizations manufacturing products and services need to set the cost for their item. Setting the price for a company's finished product or service is a standout amongst the most significant decisions a manager faces. Such decisions are called as pricing decisions.

Question

Want to see the full answer?

Answer 1

Question

Chapter 11, Problem 11.20CC

Summary Introduction

Case summary: Brand LU has immediately ascended to the highest point of a yelling market that it assumed a noteworthy job in defining. With roughly 400 stores far and wide, Brand LU hawks its own brand of yoga-enlivened attire with its immediately conspicuous logo. But unmistakably more than selling garments, Brand LU stimulates a picture and a lifestyle. The organization oozes the rationality caught by its proclamation. Certainly, this brand is about dynamic, sound, back-to-nature lifestyle and is not modest about saying as much. That picture, complimented by a "no discounts" philosophy, has a fanatically faithful customer base willing to purchase everything Brand LU with no worry about the high prices.

To Discuss: The reasons on whether Brand LU has achieved the identical level of success.

Characters in the case: Brand LU.

Introduction: Organizations manufacturing products and services need to set the cost for their item. Setting the price for a company's finished product or service is a standout amongst the most significant decisions a manager faces. Such decisions are called as pricing decisions.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Students have asked these similar questions

I need answer typing clear urjent no chatgpt used pls i will give 5 Upvotes.

The most common product I purchase would have to be organic foods from the grocery store. Although these foods are from different producers, I feel as though most if not all utilize marking skimming as their marketing strategy for pricing their goods. Many organic foods are priced much higher than the average food product, usually doubling in cost, if not more. I have yet to find an organic food product that was the same price or cheaper than your typical comparable food item at the store. With the use of market skimming, organic food companies are focused on selling to buyers who value their product and recognize that a quality product or food source comes with a price. People who prefer to eat organic foods are typically inclined to pay whatever price that product comes with, since finding organic foods can be challenging to begin with. Since there are not as many organic food producers as there are non-organic food producers, target consumers have no choice but to purchase whatever…