Factors that influence pricing

Answers

Answer 1
Marketing’s four Ps – product, price, promotion and placement – are the basic components of any marketing mix. The decisions you make with regard to all of these elements can mean the difference between success and failure. There are many factors that will have an influence on how you set the price for your product or service, with some of them internal and some external, and most of them will fluctuate over time.

Effect of Competition
A competitive pricing strategy, where prices for a product or service are set based primarily on the prices of the competition, is best suited for a price-sensitive and highly competitive market. Whether you use this type of strategy or not, you should always take your competition’s pricing into account when setting your own pricing, unless you hold a monopoly. If consumers perceive your product and your competition’s as having equal value, you could lose out in a big way if your competitor’s price is lower than yours is.

Market Demand Pricing
The laws of supply and demand should always come into play when setting your pricing. If a product is in high demand, particularly if demand exceeds supply, then the market can bear a higher price. Conversely, if demand dwindles, consumers will not be willing to pay higher prices. Your pricing should remain relatively stable over time, but you can put promotions in place to discount the price when needed.

Price is a Part of Brand Strategy
Setting your prices without a thorough grasp of your brand objectives can destroy any brand-building efforts. Your price is a part of your brand image. Think about Walmart, which has built its entire brand around low pricing, or Tiffany & Co., whose consumers expect high-end pricing. If your products’ prices are not in line with your brand image, you will most likely confuse consumers instead of convert them.

Cost of Goods Sold
If you want to make a profit on the sale of your products, you must charge a higher price than what it cost you to actually produce and transport them. The cost of goods sold almost always plays an integral role in any pricing strategy. The exception to this is if you are promoting your product as a loss leader.

A loss leader is a product that is sold below cost as an incentive for consumers to purchase other products at normal prices. Many mobile carriers, for example, sell cell phones at hugely discounted rates so that consumers will sign on for one of their cell phone service packages.

Related Questions

Choose the true statement below.
A. The net pay is correct.
B. The Social Security tax is not correct.
C. The Medicare tax is not correct.
D. The state tax is not correct.

Answers

Please find attached full question

Answer:

The net pay is correct

Explanation:

Since Chloe knows that her federal tax is correct, state tax which is 23% of federal tax will also be correct.

Therefore the net pay (which is arrived at after deductions) is correct since deductions from gross pay(which is also correct)- social Security tax which is 6.2% of gross pay, Medicare tax which is 1.45% of gross pay and state tax which is 23% of federal tax, are all correct.

OSHA Part 1926 Subpart K covers the safety and health regulations for which of the following?
O Personal protective equipment
O Electrical work
O Welding and cutting
O Toxic substances

Answers

Answer:

the answer is electrical work

Explanation:

um I just looked it up to be honest

Both Coca Cola and Benetton are global enterprises. Conduct online research and answer the following questions: What characteristics do these two firms display that qualify them as global enterprises?

Answers

Answer: here’s a photo of sample answer

Explanation:

Answer:

Both companies (Coca Cola and Benetton) registered as corporations, and both have a worldwide footprint across a number of countries. Both companies registered under the Companies Act of the respective countries in which they maintain a presence, and both abide by the laws and regulations of each nation.The companies operate on a large scale with huge investments in research and development, machinery, plants, and capital. They have numerous business functions that include marketing, manufacturing, market research, advertising, finance, and many more. They simultaneously work toward their core missions of generating profits, satisfying the needs of their customers, and continuously expanding their presence in current business markets and additional nations. They both raise capital from stock exchange markets.Both firms provide employment opportunities in their host nations and provide good quality products at moderate local rates. They also help in transferring resources such as raw materials and technology from advanced nations to the nations in which they operate.

Explanation:

Which examples demonstrate workplaces common to Management workers? Check all that apply. Lamont has a separate office with a door so he can discuss confidential information with employees. India works from home all the time at a small desk in her kitchen and does not interact with others very often. Zoe frequently travels to the different locations of her large company to meet with the workers she supervises. Mickey sits at a desk out in the open in a busy office environment and is responsible for greeting new visitors.

Answers

Answer:

a and c

Explanation:

.

Lamont has a separate office with a door, so he can discuss confidential information with employees and Zoe frequently travels to the different locations of her large company to meet with the workers she supervises are the examples demonstrate workplaces common to Management workers. Hence, options A and C are correct.

What is Management workers?

A general manager, business manager, administrator, director, or other person who has operational or managerial control over, or who directly or indirectly manages, the day-to-day operations of a facility, organization, or agency is referred to as a managing employee.

Top-level managers, middle managers, first-line managers, and team leaders are the four most typical categories of managers. These positions differ not only in terms of their daily duties but also in terms of their overall role within the company and the types of personnel they supervise.

To accomplish particular objectives, managers plan, organize, direct, and control resources. The best strategy to accomplish their goals is determined throughout the planning process. In order to execute the company's strategy, resources must be allocated.

Thus, options A and C are correct.

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Jane, the CEO of a company, is trying to resolve how a new marketing strategy should be conducted. She is taking into account the long-term future of the company, brainstorming with her team, and providing them all with key information. Which type of decision-making style is she using?

Answers

Answer:

conceptual decision making

Explanation:

In simple words, Conceptual type decision-making identifies individuals who appreciate the uncertainty with open-ended choices and are inspired to have an influence on the environment. If you're a visionary type decision-maker, you ’re supposed to have day-dreams sometimes and easily come up with fresh suggestions when necessary.

Thus, from the above we can conclude that Jane is using conceptual decision making.

Items of value owned by a business are known as which of the following?

Answers

Answer:

Explanation:

Assets

When there are many people seeking the same job, this is known as a _____ of workers.
PLS DONT GUSSSS!!!!!!!!!
consumer
demand
projection
surplus

Answers

Answer:

surplus

Explanation: A surplus is a group of people searching for the same job.

Answer:

surplus

Explanation:

What type of insurance would cover a cover a customer injury caused by a product design defect?

Answers

Product liability insurance

Answer:product liability

Explanation:

Apex

Describe the purpose of training as a team

Answers

Answer:

Hmm.

Explanation:

Training as a team can help the teammates understand each other's strengths and weaknesses, and how each teammate can help each other.

(In sports training at lest)

'But training helps reduce a disparity between your teams. Each employee has a baseline knowledge of their individual and their team's goals, putting everyone on the same page. Additionally, employees all receiving the same training means they share responsibility and are aware of their role on the team.'

An operations perspective on quality involves a subjective assessment of the efficacy of every step of the process for the customer.
A. True
B. False

Answers

The answer is A
This is call value-added

What is form utility?

...help

Answers

Answer:

Utilities mean useful features, or something useful to the home such as electricity, gas, water, cable and telephone. Examples of utilities are brakes, gas caps and a steering wheel in a car. Examples of utilities are electricity and water.

hope this helped you

please mark as the brainliest (ㆁωㆁ)

Answer:

Form utility refers to how well a product or service meets the customer's needs.

Caveat emptor as a legal principle continues to be recognized because _____. Sellers don’t want to be bothered with quality. The courts place some level of responsibility on consumers to make certain they know what they are buying and its general quality; otherwise, courts would be forever resolving small disputes. Common law is less expensive to enforce than more contemporary laws. Caveat emptor is no longer a recognized legal principle.

Answers

Answer:

The courts place some level of responsibility on consumers to make certain they know what they are buying and its general quality; otherwise, courts would be forever resolving small disputes.

Explanation:

This principle is based on the understanding that buyers have an opportunity to inspect the item, to have it inspected by a qualified professional, and to research its history before making a decision to buy. If the buyer, whether he takes advantage of this opportunity or not, chooses to buy the item, he cannot blame the seller for any deficiencies he may later discover.

To arrive at an economic decision, a decision-making grid may be used to evaluate

Answers

this is correct productivity

To arrive at an economic decision, a decision-making grid may be used to evaluate Alternative choices of action. Thus the correct option is A.

What are economic decisions?

Economic decisions of the country is based on the economy which is calculated by determining the production and consumption that takes place within a specified period.

This economy reflects the economic resources which are useful in making economic decisions based on savings and investment as well as the distribution of commodities that takes place in a country.

To determine the best decision, alternative options should be evaluated in decision making a grid to make optimum utilization of resources and make an effective decision that helps in achieving growth.

Therefore, option A is appropriate.

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Please help me‍♀️‍♀️

Answers

Answer:

a specific purpose

Explanation:

this is because ;for example you are asking this question with a purpose (to get the answer)

name two methods used to measure inequality of income in a country​

Answers

The most commonly used inequality measure are the Gini coefficient ( based on Lorenz curve ) and the percentile or share ratios. This measures try to capture overall dispersion of income; how were they tend to people different leavles of importantance on the bottom middle and top end of distribution .

I hope it is helpful for you .

You can use the Lorenz curve and the Theil index

A transaction is initially recorded in the____journal, and then subsequently posted to the general____.
a. general ; ledger.
b. trial ; balance.
c. general ; journal.

Answers

Answer:

a. general ; ledger.

Explanation:

A transaction is initially recorded in the general journal, and then subsequently posted to the general ledger. In Financial accounting, this process of transferring information about a transaction from the general journal to the general ledger is known as posting.

Additionally, the main purpose of a general ledger is to list all accounts used in recording an organization's transactions and as such it contains a list of transactions affecting each account and the account's balance.

On the other hand, the purpose of a general journal is to record a chronological listing of every transaction for an organization at a given time.

Which activity involved in the distribution function of a business concerns the supply of products from the manufacturer to the retailer?

Answers

Answer:a charge

Explanation:

Answer:

Transportation

Explanation:

Its in my notes that transportation is an important part in the distribution function

What is labor? give one example

Answers

Answer:

Work

Explanation:

help picking brainliest! What is accrued interest?
A.
the interest that has been added to the principal
B.
the borrowed amount
C.
the interest rate that has been agreed upon
D.
the fluctuation in interest rate based on time

Answers

Answer:

A

Explanation:

Answer:

the interest that has been added to the principal

Explanation:

Why miscommunication and misunderstanding happen

Answers

Answer:

misunderstanding happens due to the distance . misunderstanding happen due to lack of time to solve problem . misunderstanding happens due to third person between two persons . misunderstanding happens due to the virtual world .

Solar energy is the least expensive source of renewable energy in the United States. True False

Answers

Answer:

False

Explanation:

Solar energy is one of the most expensive energy sources out there look it up!

Answer:

False

I think

How do individuals & business benefit from
economic freedom?

Answers

Answer:

The benefit are

1. free markets,

2. rule of law,

3. protection of private property,

and

4. open trade—

that boost prosperity and reduce costs

Explanation:

Please mark me as brainlist answer

Explain why having a good accountant is important for a large business. What does an accountant do? Do some research to find out. What might happen to a business if they did not have an accountant?

Answers

Answer:

Having a good accountant if you own a large business is important because any mistakes could be detrimental in the long run and upset clients.An accountant takes care of all finances, If a business did not have an accountant it would most likely take a turn for the worst.

-Hope i helped :D

You are a manager for an office supply company. Your son needs supplies for a science project due by the end of the week. It will be another week before you get paid. What should you do?

Answers

Answer:

register this as a credit transaction waiting for payment processing

Explanation:

The best thing to do in this scenario would be to take the supplies and register this as a credit transaction waiting for payment processing. That way there is a financial journal entry stating where the supplies went and that they are not missing. Then when you get paid next week you can simply pay for the supplies and change the transaction as completed/paid.

How can i do international transactions from nepal?​

Answers

In Nepal, International Payment can only be done by using USD (United States Dollar) card i.e master card, visa card or American express system. International Payment gateway providers such as Paypal, Payoneer need these cards for payment purposes internationally

Look at the following string example:
word1 = "Cold"
What index position is the letter "C"? (5 points) Group of answer choices
0
1
2
3

Answers

Answer:

in the word cold , the index no of 'c' is 0

If the price of a product is $20, marginal analysis says which of the following
must be true in order for a consumer to purchase the product?

Answers

Answer:

MB exceeds $20

Explanation:

According to the video, what products were made by Biomedical Engineers?
imaging systems
prescription drugs
artificial limbs
lasers for surgery
naturopathic

Answers

Answer:

Imaging systems

artificial limbs

lasers for surgery

Explanation:

I just did the assignment

Answer:

→imaging systems←

→artificial limbs←

→lasers for surgery←

( 1, 3, and 4)

Explanation:

Doing the Assignment, but I hope this helps

The person above is correct so all credit to them↑↑

Nonrenewable energy cannot keep up with population growth. True False

Answers

Answer:

True

Explanation:

Lara spends her days cultivating new hybrid plants that she sells to Jon. Jon uses these plants to feed cattle because the hybrid plants offer better sources of nutrients. Which most likely explains the jobs of Lara and Jon?

Answers

Answer:

B.Lara works as a Plant Scientist and Jon works as a Farmworker.

Explanation:

A. Lara works as a Nursery Manager and Jon works as a Grader.

B.Lara works as a Plant Scientist and Jon works as a Farmworker.

C. Lara works as a Forester and Jon works as a Farm Management Adviser.

D.Lara works as a Landscaper and Jon works as an Environmental Engineer.

Lara is a plant scientist

Plants scientist refers to people who study different compositions of soil and the effect of the soil on plants. Plants scientist study how plants grows in different soils, pest control, biological and physical makeup of the soil and plants.

Plants scientist are majorly concerned about how to food production.

On the other hand, Jon is a farm worker who uses the plants cultivated by Lara to feed his cattles because those plants cultivated by Lara are better source of nutrients to his cattles.

Answer:

b.

Explanation:

I know so, I took it.

Other Questions
If all else remains constant and the values of two variables move in the same direction it indicates a Group of answer choices negative slope relationship. inverse slope relationship. the values of the two variables will move in the same direction then move in opposite directions. positive slope relationship. Why do you think college students are required to take a course in theater, art, musical or dance. Goods that are considered to be needs tend to be elastic when the price changes. inelastic when the price changes. elastic when the supply changes. inelastic when the supply changes. Which represent correct variations of the formula for speed? Check all that apply. t = d/s s = d/t t = s/d s = dt d = st d = s/t the two forces acting on a boat or some other floating object _______are and gravity which is most likely to help an introduced species became invasive? 1. a low reproductive rate 2. big difference between original and new habitats 3. a strong predator in a new habitat 4. great tolerance to a wide range of conditions Nicholas has been biting his nails since he was a kid. He wants to break the habit so he puts bitter-tasting nail polish on his left hand and leaves his right hand without polish. After 3 days he notices his nails on his left hand have grown but he continued to bite his right-hand nails. A. Independent Variable= B. Dependent Variable= C. Control= y is inversely proportional to the cube of x. It is given that for a certain value of x, the value of y is 7. Find the new value of y when x is doubled. Find the sum (9r2+4r-7)+(3r2-3r) What is x=to in this? 3x + 18 = 4x + 10 What factors contributed to the rivalries between English and Spanish explorers Solve the system of equations: 3x + 4y = 11 x 2y = 3 Whats a Radicant? I don't mean a radicand, radical, or radical sign. A Radicant. I can't find anything about it anywhere! :( Please explain in the simplest way you can too pls! How is the fluid level measured in a syringe Can someone please help What was the three fifths compromise? Which of these is caused by the interaction between the atmosphere and the hydrosphere? Which of the following phrases best explains what migration is?A. giving others opportunities to encourage them to moveB. physically forcing someone else to moveC. moving to a new place for the sake of living somewhere newD. sharing culture through television and the InternetPlease select the best answer from the choices provided The over arching effect of the Neolithic revolution was the Which of the following is a single replacement reaction?( a. Ba(OH)2 + H2SO4 BaSO4 + 2H2O( b. 2Mg + O2 2MgO(c. H2O+ CO2 H2CO3(d. Zn + H2SO4 ZnSO4 + H2