Bundle: Contemporary Marketing, Loose-Leaf Version, 17th + LMS Integrated MindTapV2.0 Contemporary Marketing, 1 term (6 months) Printed Access Card
Question
Book Icon
Chapter 19, Problem 1C
Summary Introduction

Case summary:

Country C stopped its production of penny and it does not make any big impact as it cost only 1.6¢ to produce whereas the Country U cost 99% of zinc core for the copper plate. In recnt year, Country U lost almost $60 million in minting the pennies.

Country C asked its citizens to bring all the unwanted pennies to melt or to give it for donation to charities.

As the price of Zinc rises people feel they need to eliminate the pennies to save the cost of manufacturing. On the other side some feels that if the price is rounded to nearest nickel, poor people will suffer the most. Others say the price will attain stickiness and some says that 99¢ may reduce to 95¢ rather than $1 to avoid the crossing that higher price threshold.

Characters in the case:

  • Country C
  • Country U

To discuss: The effects on retail price if Country U withdraws the circulation of penny.

Blurred answer
Students have asked these similar questions
A sample concepts personifying the target market of young adults or teenagers, defined in terms of demographic, psychographic and geographic characteristics.
From a cultural perspective, based on research that you have conducted. Select  three of the listed topics you consider relevant to explore in your discussion that will help a company better understand what it is like to live as a citizen in the country you have chosen: geography, social institutions (e.g., family, education, politics, legal system, and social welfare), religion, living conditions, and language.
'Memories in a box' is a business involved in gift baskets for all occassions and event planning located in Trinidad and tobago a) Provide a brief background of the company.   include the business concept and give justification for the profitability of this venture in the current market or economy.  b) Emphasize the unique selling points of the business.   C) Identify the products and services that the company intends to offer, to include the target market.  d) State the strategic vision and mission for the business.
Knowledge Booster
Background pattern image
Similar questions
SEE MORE QUESTIONS
Recommended textbooks for you
Text book image
MARKETING 2018
Marketing
ISBN:9780357033753
Author:Pride
Publisher:CENGAGE L
Text book image
Foundations of Business (MindTap Course List)
Marketing
ISBN:9781337386920
Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher:Cengage Learning
Text book image
Foundations of Business - Standalone book (MindTa...
Marketing
ISBN:9781285193946
Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher:Cengage Learning
Text book image
Principles of Management
Management
ISBN:9780998625768
Author:OpenStax
Publisher:OpenStax College
Text book image
Marketing
Marketing
ISBN:9780357033791
Author:Pride, William M
Publisher:South Western Educational Publishing