Concept explainers
a)
Case summary:
Company WG manufactures 4 categories of instruments, such as batch custom, mass produced, one-of-a-kind, and mass customized. It is necessary to set different prices to different categories of instruments to sustain in the business. Person BA, who is the vice president of Company WG, is responsible for setting the price.
The recommended retail cost is $349. Person BA calculates Company WG’s variable and fixed costs to know the break-even point and profit. Profits and break-even points are calculated under different conditions to assess the effects of production facility.
Characters in case:
Company WG
Person BA
Introduction:
Demand curve represents the number of units sold at a particular price. This graph shows the prices and quantity sold. The 3 demand factors that affect the price are consumer taste, price and obtainability to substitute the product, and customer income.
To determine: The examples of shifting the demand curve to the right to get a greater price.
b)
Case summary:
Company WG manufactures 4 categories of instruments, such as batch custom, mass produced, one-of-a-kind, and mass customized. It is necessary to set different prices to different categories of instruments to sustain in the business. Person BA, who is the vice president of Company WG, is responsible for setting the price.
The recommended retail cost is $349. Person BA calculates Company WG’s variable and fixed costs to know the break-even point and profit. Profits and break-even points are calculated under different conditions to assess the effects of production facility.
Characters in case:
Company WG
Person BA
Introduction:
Demand curve represents the number of units sold at a particular price. This graph shows the prices and quantity sold. The 3 demand factors that affect the price are consumer taste, price and obtainability to substitute the product, and customer income.
To determine: The pricing decisions involved in moving along the demand curve.
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Chapter 13 Solutions
Marketing - Standalone book
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Contemporary MarketingMarketingISBN:9780357033777Author:Louis E. Boone, David L. KurtzPublisher:Cengage Learning
MarketingMarketingISBN:9780357033791Author:Pride, William MPublisher:South Western Educational Publishing