EBK MINDTAPV2.0 CONTEMPORARY MARKETING,
17th Edition
ISBN: 9781337091022
Author: Kurtz
Publisher: VST
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Chapter 19, Problem 9ALR
Summary Introduction
To discuss: The 3 traditional global pricing strategies and give an example of product or firm that would be likely to adopt to one of three methods with reason.
The amount or value of funds that are required to buy a product is termed as price.
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- Sellers 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_forwardYou are a newly appointed marketing manager of a multinational firm. The firm has the following market base: consumer market, business market, and international market. Its business products serve as a raw material for other businesses and thereby have a wide scope of its business frontier. It has challenges in segmentation although they produce quality products for various markets. Based on the above challenges facing the firm, it has also resulted in serious pricing decision problems, which are seriously affecting the firm’s profitability level. Meetings has been held both nation and international level to rectify some of these anomalies in the firm. Now, the head of corporate affairs has become worried of these pending challenges and has called for presentation from the head of the marketing. 1. Explain how to segment the following markets and its requirements: i. Consumer market. ii.Business market. iii. International market.arrow_forwardHow do pricing objectives for a global firm differ from thoseused generally?arrow_forward
- Discuss the following for the Ebay Company: Select a single product for your firm and set a price according to multiple pricing approaches. For instance: Competition-based: Briefly supply the appropriate data and explain how your price relates (at-, above-, or below-the-market). Which of the methods do you believe most closely reflects your firm’s pricing method? Why?arrow_forwardUnder what environmental conditions are price wars likely to occur in an industry? What are the implications of price wars for a company?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
- 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?arrow_forwardThe Services industry is one of the most affected by the COVID-19 outbreak, and to be able to hype up the industry, think of new or innovative ways on how to help boost it. With given travel agency in Philippines called: Creative Travel Agency Discuss the proposed pricing strategies of your chosen company and compare them with their direct and indirect competitors. Choose 1 direct and 1 indirect competitor. Do not forget to cite your references/websites.arrow_forwardHow price competition can be avoided ?arrow_forward
- ANSWER THIS select only one product and describe your pricing strategies in a form of a listarrow_forwardDescribe three main factors that impact pricing decisions. You are the Marketing Director of a resort in Caribbean which has been severely impacted by travel bans as a result of COVID19. What pricing strategy you would employ? Please provide the rationale for your choice.arrow_forwardAs a purchasing manager for a manufacturer of domestic appliances you are to source the door seal for a new model of microwave oven. the component has caused problems in the past but design problems have now been overcome. the market has been increasingly competitive and any problems with the new model could be disastrous. preliminary sourcing indicates that permaseal Limited has a substantially lower price than the other potential suppliers, including your current supplier Thermal Bond limited. however, the last time you did business with permaseal was six years and at the time you experience some quality and delivery problems. Explain in details how you would undertake this sourcing exercise in order to ensure that you select the best possible supplier for the long term.arrow_forward
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