Marketing
14th Edition
ISBN: 9781259924040
Author: Roger A. Kerin, Steven W. Hartley
Publisher: McGraw-Hill Education
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Question
Chapter 14.3, Problem 14.3LO
Summary Introduction
To find: The adjustments that has to be made to the correct price level based on the geography, discount, and allowances.
Introduction:
The method that is adopted by the firm to fix the selling price is known as pricing. The pricing generally depends on the average cost and the perceived value of the product.
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Students have asked these similar questions
If an item is particularly valuable to a customer, using customer-based pricing might suggest a price that is higher than the one that would be indicated by use of a standard markup. Describe a situation where the use of customer-based pricing would suggest a price that is lower than the one that would be indicated by use of a standard markup.
Distinguish pricing based on the cost life cycle and pricing based on the sales life cycle, and give anexample method for each
Identify a product for which price is elastic and one where price is inelastic and indicate why
Chapter 14 Solutions
Marketing
Ch. 14.1 - Prob. 14.1LOCh. 14.1 - Prob. 14.1LRCh. 14.1 - Prob. 14.2LRCh. 14.1 - Prob. 14.3LRCh. 14.1 - Prob. 14.4LRCh. 14.1 - Prob. 14.5LRCh. 14.2 - Prob. 14.2LOCh. 14.3 - Prob. 14.3LOCh. 14.4 - Prob. 14.4LOCh. 14.4 - Prob. 14.6LR
Ch. 14.4 - Prob. 14.7LRCh. 14.4 - Prob. 14.8LRCh. 14 - Prob. 1AMKCh. 14 - Prob. 2AMKCh. 14 - Prob. 3AMKCh. 14 - The Hesper Corporation is a leading manufacturer...Ch. 14 - Prob. 5AMKCh. 14 - Prob. 6AMKCh. 14 - Prob. 7AMKCh. 14 - Prob. 8AMKCh. 14 - Prob. 1VCCh. 14 - Prob. 2VCCh. 14 - Prob. 3VCCh. 14 - Prob. 4VCCh. 14 - Prob. 5VC
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- Cite three (3) pricing strategies that companies or firms implement. Discuss the circumstances or situations when these pricing strategies can best serve or benefit the firms.arrow_forwardCalculate the net price factor and net price (in dollars). For convenience, round the net price factor to five decimal places and the net price to the nearest cent, when necessary. List price: $435.60 Trade discount rate: 22/15/5arrow_forwardIn order for price discrimination to be legal, what conditions must be met? Explain each condition and then discuss the ways a retailer can defend itself against price discrimination. NOTE: info in the photo attached.arrow_forward
- Scissors, a local hair salon, practices a known form of price discrimination by charging students and senior citizens a discounted price of R80.00 for a haircut, while all other regular customers are charged R120.00 per cut. With the aid of a graphical illustration, identify the type of price discrimination practiced and explain the firm’s pricing strategy to maximise profits.arrow_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_forwardDo you provide any form of discount or special pricing to customers who have previously served in the military services of their country?arrow_forward
- Consider a service of your choice and develop a comprehensive pricing schedule. Apply the six questions marketers need to answer for designing an effective pricing schedule.arrow_forwardKind of pricing in which prices are set below cost temporarily and intentionally to destroy competitors is classified as: Non-predatory pricing Augmented pricing Descriptive pricing O Predatory pricingarrow_forwardNonearrow_forward
- A product is a set of attributes and benefits designed to satisfy its market while earning a profit for its seller. Pricing is an integral part of this equation. What factors must be considered when pricing products and how a price change affects a product's demand and supply?arrow_forwardImagine an organization has asked you to create its pricing strategy. You decide to base your proposed price recommendations on possible pricing objectives.Examine how price decisions should be adapted for the pricing objective.arrow_forwardDiscuss briefly the advantages and disadvantages of two traditional pricing methods used by the hospitality industry.arrow_forward
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