Marketing - Standalone book
13th Edition
ISBN: 9781259573545
Author: Roger A. Kerin, Steven W. Hartley
Publisher: McGraw-Hill Education
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Question
Chapter 13.2, Problem 13.6LR
Summary Introduction
To determine: The examples of customer driven and retailer/seller driven pricing actions on the internet through price transparency.
Introduction:
A price is a payment method or benefit received from one to another in return for usage of goods or service or it is a payment made for the use of product and service or exchange of goods and services.
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What are examples of (1) consumer-driven and (2) selleror retailer-driven pricing actions made possible through price transparency on the Internet?
Can you offer different levels of products or services at different price points? Please identify pricing strategy and how would the customer react to it.
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?
Chapter 13 Solutions
Marketing - Standalone book
Ch. 13.1 - Prob. 13.1LOCh. 13.1 - Prob. 13.1LRCh. 13.1 - Prob. 13.2LRCh. 13.1 - Prob. 13.3LRCh. 13.2 - Prob. 13.2LOCh. 13.2 - Prob. 13.4LRCh. 13.2 - Prob. 13.5LRCh. 13.2 - Prob. 13.6LRCh. 13.3 - Prob. 13.3LOCh. 13.4 - Prob. 13.4LO
Ch. 13.4 - What is the difference between a movement along a...Ch. 13.4 - Prob. 13.8LRCh. 13.4 - Prob. 13.9LRCh. 13.5 - Prob. 13.5LOCh. 13.5 - Prob. 13.10LRCh. 13.5 - Prob. 13.11LRCh. 13 - Prob. 1AMKCh. 13 - Prob. 2AMKCh. 13 - Prob. 3AMKCh. 13 - Prob. 4AMKCh. 13 - Prob. 5AMKCh. 13 - A student theater group at a university has...Ch. 13 - Prob. 7AMKCh. 13 - Prob. 8AMKCh. 13 - Prob. 9AMKCh. 13 - Prob. 1BYMPCh. 13 - Prob. 2BYMPCh. 13 - Prob. 3BYMPCh. 13 - Prob. 1VCCh. 13 - Prob. 2VCCh. 13 - Prob. 3VCCh. 13 - Prob. 4VCCh. 13 - Prob. 5VC
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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
- Describe price skimming and penetration pricing. What types of new products would be best suited to price skimming? What types of products will be most successful with penetration pricing?arrow_forwardIt is recommendable that the Company uses product and pricing strategy, which can provide a twin approach (Koester, 2011). The strategy should focus on ensuring smooth entry of a new product within a targeted marketplace as well as strengthening prices as the product continue to establish itself within the product life cycle. To this end, it is recommendable that the company uses introductory pricing strategies to facilitate a smooth entry.What is your understanding of this paragraph? What is Nike recommended to do from this?arrow_forwardSellers pursue different strategies or approaches that affect the pricing of their products or services. Some sellers rely on internal cost structures to establish price, whereas others simply price at a level comparable to the competition. Explain five market driven pricing models providing examples for each model.arrow_forward
- a legislation requires sellers to set prices without talking to competitors : Select one: a. predatory pricing b. price discrimination C. price maintenance d. price fixingarrow_forwardDiscuss the various pricing methods that can be used by a vendor along with the main features. Provide descriptions of existing markets where these kinds of price arrangements are rapidly changing.arrow_forwardDoes "value" mean the same thing as "low price"? How do these concepts differ? Pick two competing brands from a familiar product category (watches, perfume, consume electronics, restaurants) - one low priced and the other high priced. Which, if either, offers the greatest value? Why might the strategy for setting a product's price need to be changed when a product is part of a product mix? What are the five product mix pricing strategies? Provide an example of each. (4 points) Alicia is a self-employed hair stylist who owns her own salon. She has asked you to consult with her on how to generate more revenue. Using the price adjustment strategies discussed in the chapter, advise Alicia on her options to increase sales. Please be detailed in your response with why you are choosing each.arrow_forward
- Cost-based pricing is sometimes justified by arguing that it ensures that a company receives a good profit on the products that it sells. Describe a problem with this justification. What does this problem have to do with the main disadvantage of cost-based pricingarrow_forwardPricing has objective and subjective constraints when Marketing Managers must set a value based for the products and services they offer. Under which circumstances in pricing a newly launched product might support skimming or penetration marketing? Create an example which will defend your rationale to all your stakeholders.arrow_forwardThe three factors that affect pricing decisions for marketers are: Value-Based Pricing, Cost-Based Pricing, and Competition-Based Pricing. Explain them.arrow_forward
- What is the main (most important) way that Cost-Based Pricing is different from Customer Value-Based Pricing? Would the cost of coffee beans purchased by McDonald’s be a Fixed Cost or a Variable Cost?arrow_forwardWhat. Are the alternative pricing strategies available to the marketer who wants to introduce a new product in a highly competitive market ?arrow_forwardInsights about "Good pricing involves finding a balance between the customer's desire to obtain good value, and the company's need to cover costs and earn profits"arrow_forward
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