Contemporary Marketing (MindTap Course List)
17th Edition
ISBN: 9781305075368
Author: Louis E. Boone, David L. Kurtz
Publisher: Cengage Learning
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Chapter P7, Problem 2QCT
Summary Introduction
Case summary:
The person who prepare food should never consider the price of the ingredients or the money spend on making the food. Instead, in should depend on the creativity and the care they blend into the creation. Similarly, the food network marketers also face the many question while considering the pricing objectives. Food network also sells kitchen utensils. Fixing the pricing strategy for these goods includes integrating the target audience for television shows.
Food networks wants to price their goods at the affordable cost because if they price it too high then many could not afford to buy. The main aim of the marketers is to sell the quality products to their customers and satisfy the customers for the amount paid for the product. The marketers noticed that during the economy fall viewers would mostly prefer to watch less expensive recipes and menus. When money is tight people, tend to spend more time at home so they would watch shows for more time than before. These shows help people to live a better food life.
To discuss: The manner in which Person X would classify the market structure for the food networks offerings.
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