Marketing: An Introduction (13th Edition)
13th Edition
ISBN: 9780134149530
Author: Gary Armstrong, Philip Kotler
Publisher: PEARSON
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Textbook Question
Chapter 9, Problem 1ALC
- An earlier example states that although the average Steinway piano costs $87,000, to those who own one. a Steinway is a great value. Does this fit your idea of value?
Expert Solution & Answer
Summary Introduction
To discuss: Whether the idea of Person X fits his value
Introduction:
The variation between what a customer obtains from a product and what the customer has to give in order to get it known as the customer value.
Explanation of Solution
Given example:
The average cost of purchasing The Piano S is $87,000 and this piano is of a great value.
Explanation:
Person X finds that cost of purchasing the Piano S is $87,000. Person X states that this product is of a great value because it is a handcrafted product and the higher cost always results in a higher quality.
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Students have asked these similar questions
Your boss would like your help on a marketing research project he is conducting on the relationship between the price of juice and the quantity of
juice supplied. He hands you the following document:
Price of Juice
Quantity of Juice Supplied
(Dollars per can)
(Billions of cans)
0.50
750
0.75
1,000
1.00
1,500
1.25
2,000
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price of juice rises, the quantity of juice supplied increases. This confirms the
Yamaha company sells auto parts. One of
auto part has selling price for $110. Yamaha
company buys this part from Toyota, which
costs Yamaha $80 dollars. Yamaha on
average sells 40 units of this part every
month. For a company to earn a profit (profit
is not equal to zero), what is the highest
possible fixed costs for each month?
Please show all your work.
Annie tells her granddaughter, Mary, that in
1934
you could buy a house for
$
17,000
and a jacket for
$
6
.
Mary says that in
2018
such a house costs
$
275,000
and such a jacket costs
$
60
.
The CPI in
1934
was
15.2
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and in
2018
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it was
245.4
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Which house has the lower real price? Which jacket has the lower real price?
The house with the lower price is the _______, and the jacket with the lower price is the _______.
A. $275,000 house in 2018; $6 jacket in 1934
B. $17,000 house in 1934; $60 jacket in 2018
C. $275,000 house in 2018; $60 jacket in 2018
D. $17,000 house in 1934; $6 jacket in 1934
Chapter 9 Solutions
Marketing: An Introduction (13th Edition)
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