Does selling at low cost signifies providing good value. Introduction: Marketing is an art in which a seller sells his goods and services to his customer. Marketing has important four elements which are price, place, product and promotion.

Question

Want to see more full solutions like this?

Answer 1

Question

Chapter 1.2, Problem 1CY

Summary Introduction

To determine: Does selling at low cost signifies providing good value.

Introduction: Marketing is an art in which a seller sells his goods and services to his customer. Marketing has important four elements which are price, place, product and promotion.

Expert Solution & Answer

Explanation of Solution

Does selling at low cost signifies providing good value?

It cannot be said that selling at a low price signifies good value. Since the manufacturer has to take a reasonable price from the customer along the good quality product. If a producer is not able to meet the needs and wants of the customer, the customer would not like to purchase goods and services from the customer.
If the producer sales its goods at a low price and is not able to recover the cost of the goods, produce will not produce that good.
But if the producer produces a good quality product, the producer should try to cover the product cost so that the producer can carry on its production of good quality.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Students have asked these similar questions

Which of these has been a complaint some marketers have about Groupon and its coupon deals? Few consumers know about Groupon, so businesses must spend money to educate them. Groupon does not try hard enough to sell the service. The money-saving coupons attract only deal-seekers, who rarely become long-term customers. Consumers are getting bored with shopping and couponing apps.

Securing needed financing is one of the most important functions related to starting a business.Therefore, it is important to understand what sources of financing exist at various stages ofventure development. It is also important to determine what kind of financing provides themost value for the entrepreneur and the new venture. Equity financing is one way entrepreneursuse to access funding.a. What is equity financing? (3 marks)b. State and expain two (2) examples of equity funding. (4 marks)c. State three advantages of equity financing? (3 marks)

Design thinking is a deeply human process that taps into abilities we have as entrepreneurs butget overlooked by more conventional problem-solving practices. Its importance is to createvalue for customers, improve collaboration, foster creativity, develop resilience and of courseto advance careers. Using the five (5) stages of design thinking process, state and explain howthe process works. (10 marks)

Answer 2

Question

Chapter 1.2, Problem 1CY

Summary Introduction

To determine: Does selling at low cost signifies providing good value.

Introduction: Marketing is an art in which a seller sells his goods and services to his customer. Marketing has important four elements which are price, place, product and promotion.

Expert Solution & Answer

Explanation of Solution

Does selling at low cost signifies providing good value?

It cannot be said that selling at a low price signifies good value. Since the manufacturer has to take a reasonable price from the customer along the good quality product. If a producer is not able to meet the needs and wants of the customer, the customer would not like to purchase goods and services from the customer.
If the producer sales its goods at a low price and is not able to recover the cost of the goods, produce will not produce that good.
But if the producer produces a good quality product, the producer should try to cover the product cost so that the producer can carry on its production of good quality.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 3

Question

Chapter 1.2, Problem 1CY

Summary Introduction

To determine: Does selling at low cost signifies providing good value.

Introduction: Marketing is an art in which a seller sells his goods and services to his customer. Marketing has important four elements which are price, place, product and promotion.

Expert Solution & Answer

Explanation of Solution

Does selling at low cost signifies providing good value?

It cannot be said that selling at a low price signifies good value. Since the manufacturer has to take a reasonable price from the customer along the good quality product. If a producer is not able to meet the needs and wants of the customer, the customer would not like to purchase goods and services from the customer.
If the producer sales its goods at a low price and is not able to recover the cost of the goods, produce will not produce that good.
But if the producer produces a good quality product, the producer should try to cover the product cost so that the producer can carry on its production of good quality.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 4

Question

Chapter 1.2, Problem 1CY

Summary Introduction

To determine: Does selling at low cost signifies providing good value.

Introduction: Marketing is an art in which a seller sells his goods and services to his customer. Marketing has important four elements which are price, place, product and promotion.

Expert Solution & Answer

Explanation of Solution

Does selling at low cost signifies providing good value?

It cannot be said that selling at a low price signifies good value. Since the manufacturer has to take a reasonable price from the customer along the good quality product. If a producer is not able to meet the needs and wants of the customer, the customer would not like to purchase goods and services from the customer.
If the producer sales its goods at a low price and is not able to recover the cost of the goods, produce will not produce that good.
But if the producer produces a good quality product, the producer should try to cover the product cost so that the producer can carry on its production of good quality.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 5

Chapter 1.2, Problem 1CY

Summary Introduction

To determine: Does selling at low cost signifies providing good value.

Introduction: Marketing is an art in which a seller sells his goods and services to his customer. Marketing has important four elements which are price, place, product and promotion.

Expert Solution & Answer

Explanation of Solution

Does selling at low cost signifies providing good value?

It cannot be said that selling at a low price signifies good value. Since the manufacturer has to take a reasonable price from the customer along the good quality product. If a producer is not able to meet the needs and wants of the customer, the customer would not like to purchase goods and services from the customer.
If the producer sales its goods at a low price and is not able to recover the cost of the goods, produce will not produce that good.
But if the producer produces a good quality product, the producer should try to cover the product cost so that the producer can carry on its production of good quality.

Answer 6

Chapter 1.2, Problem 1CY

Summary Introduction

To determine: Does selling at low cost signifies providing good value.

Introduction: Marketing is an art in which a seller sells his goods and services to his customer. Marketing has important four elements which are price, place, product and promotion.

Expert Solution & Answer

Explanation of Solution

Does selling at low cost signifies providing good value?

It cannot be said that selling at a low price signifies good value. Since the manufacturer has to take a reasonable price from the customer along the good quality product. If a producer is not able to meet the needs and wants of the customer, the customer would not like to purchase goods and services from the customer.
If the producer sales its goods at a low price and is not able to recover the cost of the goods, produce will not produce that good.
But if the producer produces a good quality product, the producer should try to cover the product cost so that the producer can carry on its production of good quality.

Answer 7

Chapter 1.2, Problem 1CY

Summary Introduction

To determine: Does selling at low cost signifies providing good value.

Introduction: Marketing is an art in which a seller sells his goods and services to his customer. Marketing has important four elements which are price, place, product and promotion.

Answer 8

Expert Solution & Answer

Explanation of Solution

Does selling at low cost signifies providing good value?

It cannot be said that selling at a low price signifies good value. Since the manufacturer has to take a reasonable price from the customer along the good quality product. If a producer is not able to meet the needs and wants of the customer, the customer would not like to purchase goods and services from the customer.
If the producer sales its goods at a low price and is not able to recover the cost of the goods, produce will not produce that good.
But if the producer produces a good quality product, the producer should try to cover the product cost so that the producer can carry on its production of good quality.

Answer 9

Expert Solution & Answer

Answer 10

Expert Solution & Answer

Answer 11

Ch. 1.1 - Prob. 1CY Ch. 1.1 - Prob. 2CY Ch. 1.1 - Prob. 3CY Ch. 1.1 - Prob. 4CY Ch. 1.1 - Prob. 5CY Ch. 1.2 - Prob. 1CY Ch. 1.2 - Prob. 2CY

Does selling at low cost signifies providing good value. Introduction: Marketing is an art in which a seller sells his goods and services to his customer. Marketing has important four elements which are price, place, product and promotion.

Concept explainers

To determine: Does selling at low cost signifies providing good value.

Introduction: Marketing is an art in which a seller sells his goods and services to his customer. Marketing has important four elements which are price, place, product and promotion.

Explanation of Solution

Want to see more full solutions like this?

Chapter 1 Solutions

Does selling at low cost signifies providing good value. Introduction: Marketing is an art in which a seller sells his goods and services to his customer. Marketing has important four elements which are price, place, product and promotion.

Concept explainers

To determine: Does selling at low cost signifies providing good value. Introduction: Marketing is an art in which a seller sells his goods and services to his customer. Marketing has important four elements which are price, place, product and promotion.

Explanation of Solution

Want to see more full solutions like this?

Chapter 1 Solutions

To determine: Does selling at low cost signifies providing good value.

Introduction: Marketing is an art in which a seller sells his goods and services to his customer. Marketing has important four elements which are price, place, product and promotion.