MKTG (with MindTap Marketing, 1 term (6 months) Printed Access Card) (MindTap Course List)
12th Edition
ISBN: 9781337407588
Author: Charles W. Lamb, Joe F. Hair, Carl McDaniel
Publisher: Cengage Learning
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Question
Chapter 19, Problem 9LO
Summary Introduction
To Discuss: The various pricing tactics that could be utilised to fine-tune base price.
Introduction: Pricing decisions are the decisions that an organizations make when fixing costs for their items or services. Pricing is viewed as a component of an organization's marketing strategy since it impacts its association with various customers in the market.
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Chapter 19 Solutions
MKTG (with MindTap Marketing, 1 term (6 months) Printed Access Card) (MindTap Course List)
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- What type of pricing assessment technique would an organization use to evaluate pricing for proposed new products and services?arrow_forwardOnce a company determines a base price, a series of price tactics are often offered to help fine-tune the base price to make sure it satisfies the company and customer. List the four basic price tactics and define each one.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_forward
- Explain briefly the concept of shadow pricing and comment on the usefulness and it's limitationsarrow_forwardExplain in your own words and also give examples of how price gouging is harmful for the customers and predatory pricing good for them?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_forward
- How you can differentiate between a price skimming and a market penetration pricing strategy. Discuss with the help of a suitable example from the local marketarrow_forwardWhat is the advantages and disadvantages of Buyer-oriented pricing strategy? Explain. Please send some example of Buyer-oriented pricing strategyarrow_forwardDescribe one advantage and one disadvantage that competition-based pricing has in common with cost-based pricing.arrow_forward
- Discuss how price discrimination can enhance the effectiveness of a limit pricing strategy.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_forwardCite 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_forward
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