Practical Management Science
5th Edition
ISBN: 9781305250901
Author: Wayne L. Winston, S. Christian Albright
Publisher: Cengage Learning
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Chapter 8.4, Problem 3P
Summary Introduction
To determine: The best pricing policy.
Introduction: The variation between the present value of the
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Holiday Inn is a travel agent and they are
offering OMR 450 for complete tour cost to
Malaysia. This includes; flight ticket, hotel,
and taxi services. What kind of pricing is
this?
O a. Penetrating pricing
b. Product bundle pricing
O c. Discount pricing
O d. All of the above
is pricing policy an appropriate mechanism to control inventory levels? If so how should price be determined?
A pricing strategy is
Group of answer choices
a long-term approach to setting prices in a companywide integrated effort
using one-time seasonal discounts to reduce inventory.
using slotting allowances to gain access to distribution channels
a short-term approach to setting prices
Chapter 8 Solutions
Practical Management Science
Ch. 8.3 - Prob. 1PCh. 8.3 - Prob. 2PCh. 8.4 - Prob. 3PCh. 8.4 - Prob. 4PCh. 8.4 - Prob. 5PCh. 8.5 - Prob. 6PCh. 8.5 - Prob. 7PCh. 8.5 - In the lawn mower production problem in Example...Ch. 8.6 - Prob. 9PCh. 8.6 - Prob. 10P
Ch. 8.6 - Prob. 11PCh. 8.6 - Prob. 12PCh. 8.7 - Prob. 13PCh. 8.7 - Prob. 14PCh. 8.8 - Prob. 15PCh. 8.9 - Prob. 17PCh. 8.9 - Prob. 18PCh. 8.10 - Prob. 20PCh. 8.10 - Prob. 21PCh. 8.10 - Prob. 22PCh. 8.10 - Prob. 23PCh. 8.10 - Prob. 24PCh. 8 - Prob. 25PCh. 8 - Prob. 26PCh. 8 - Prob. 27PCh. 8 - Prob. 28PCh. 8 - Prob. 29PCh. 8 - Prob. 30PCh. 8 - Prob. 31PCh. 8 - Prob. 32PCh. 8 - Prob. 33PCh. 8 - Prob. 34PCh. 8 - Prob. 35PCh. 8 - Prob. 36PCh. 8 - Prob. 37PCh. 8 - Prob. 38PCh. 8 - Prob. 39PCh. 8 - Prob. 40PCh. 8 - Prob. 41PCh. 8 - Prob. 42PCh. 8 - Prob. 43PCh. 8 - Prob. 44PCh. 8 - Prob. 46PCh. 8 - Prob. 1CCh. 8 - Prob. 2C
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- In the basic price list functionality, this term can be used to described discount structures and detailed pricing that enables you to give surcharge or discount for the business partner Basic Prices Detailed Pricing Special Prices Price Listsarrow_forwardDifferentiate Skimming Price Strategy and Penetration Pricing Strategy.(please do not copy answers on the internet thanks)arrow_forwardA business wants to capture market share in a short period of time priced its services at a discount. What strategy this business is adopting? variable pricing skimming price price lining penetration pricingarrow_forward
- The Dunkin' Donuts (DD) mobile app lets you Order-on-the-Go. You simply select the beverages and food items you want to purchase and place your order when you are ready to pick it up. Payment is automatically deducted from your registered DD card. Dunkin' Donuts implemented this service in hopes of increasing the frequency of visits per customer by leveraging which pricing consideration: Separation in method of payment Ease /difficulty in product comparison Separation between buyer and payor Price/quality inferencearrow_forwardPricing based on time and material is another cost-based method. Two price tiers are established using this strategy. Where does this method come in and what actions does it take to utilize it? Explanation of why this method is utilized in certain sectorsarrow_forwardExplore the concept of dynamic pricing within the framework of the Wilson approach. How can organizations adjust their pricing strategies based on inventory levels and demand patterns?arrow_forward
- 2) Please explain Psychological Pricing and provide an example from your own personal experiencearrow_forwardChe and yuni meet every morning to talk about the news, weather, and sports. They meet at the same coffee shop because they receive a senior citizen discount that saves them some money. Which pricing objective does this best represent?arrow_forwardIllustrate a simple price strategy for a retail sports company for one of its products using at least 2 common pricing objectives and pricing strategies. Give reasons for your suggestions and why you think this is the best recommendation for a retail organisation.arrow_forward
- Compare JCPenney’s former traditional approach to pricing versus the “Fair and Square” pricing strategy. Discuss the advantages and disadvantages of each.arrow_forwardInterpret the types of product mix pricing strategies. Support each strategy with a relevant example.arrow_forwardDefine the term flexible pricing?arrow_forward
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