Please explain one important factor of each of the following Pricing Approaches Demand-Oriented Pricing Approaches Cost-Oriented...

Please explain one important factor of each of the following Pricing Approaches Demand-Oriented Pricing Approaches

Cost-Oriented Pricing Approaches

Profit-Oriented Pricing Approaches

Competition-Oriented Pricing Approaches

Solutions

Expert Solution

Pricing Approaches		Important factor
Demand-Oriented Pricing Approaches	Here customers tastes and preference are given more weights than other factors like cost, competition etc. This helps to understand the demand for a good from customer perspective	Customers tastes and preference
Cost-Oriented Pricing Approaches	Here the costs of raw materials are covered which helps to arrive at the total cost incurred in producing a good. By knowing the cost a profit margin in included to arrive at the price.	Costs of raw materials
Profit-Oriented Pricing Approaches	Here the price is fixed by trying to achieve a predetermined profit. So in order to achieve the a predetermined profit, pricing decisions varies	Predetermined profit
Competition-Oriented Pricing	Here pricing is dependent on competitors. So by looking at what the competitors are pricing, the pricing varies accordingly.	Competitors price

Rahul Sunny answered 1 year ago

Next > < Previous

Related Solutions

Select one: a. A difference between cost and selling price. It is added to the total cost b. Demand Oriented Pricing

Select one:a. A difference between cost and selling price. It is added to the total costb. Demand Oriented Pricingc. A price that would make a potential buyer indifferent between continuing to use the current product and switching to the new productd. The price of a product that is related to the value that product brings to a particular customere. A competition oriented pricing

. Why is pricing important? . For each of the following pricing objectives, explain and provide...

. Why is pricing important? . For each of the following pricing objectives, explain and provide a marketing example. a. Profit oriented b. Sales oriented c. Status quo 3. Explain the importance of “demand” in price determination. Use your basic economic concepts of elasticity and inelasticity to embellish your responses. 4. Define each of the following pricing strategies and illustrate each with a marketing example. You must utilize what you learned about the product life cycle in your response. a....

One important factor in inventory control is the variance of the daily demand for the product....

One important factor in inventory control is the variance of the daily demand for the product. A management scientist has developed the optimal order quantity and reorder point, assuming that the variance is equal to 250. Recently, the company has experienced some inventory problems, which induced the operations manager to doubt the assumption. To examine the problem, the manager took a sample of 25 days and recorded the demand. a. Do these data provide sufficient evidence at the 10% significance...

Discuss and explain the differences between economic and cost-based approaches to pricing. Provide examples to illustrate.

Discuss both the full-cost pricing strategy and the marginal-cost pricing strategy and explain how each would...

Discuss both the full-cost pricing strategy and the marginal-cost pricing strategy and explain how each would apply to your health care clinic. How would target costing affect your business?

A uniform pricing monopolist has the following cost function and faces the following demand curve for...

A uniform pricing monopolist has the following cost function and faces the following demand curve for its product: C(y) = 20y P(y) = 100 - y (a) Find the monopolist quantity, price, and deadweight loss relative to the perfectly competitive outcome. Draw a diagram labeling the perfectly competitive outcome as A, and the monopolist outcome as B. Be sure to include the marginal cost and marginal revenue curves in your diagram. (b) There are two possible scenarios for the monopolist:...

A uniform pricing monopolist has the following cost function and faces the following demand curve for...

A uniform pricing monopolist has the following cost function and faces the following demand curve for its product: C(y) = 20y P(y) = 100 ? y (b) There are two possible scenarios for the monopolist: i The government sets a price ceiling of $40/unit in which case the monopolist does not invest in any R&D because it is wary of future government regulation. ii There is no government regulation, so then the monopolist invests in R&D which then changes the...

A uniform pricing monopolist has the following cost function and faces the following demand curve for...

A uniform pricing monopolist has the following cost function and faces the following demand curve for its product: C(y) = 20y P(y) = 100 ? y (a) Find the monopolist quantity, price, and deadweight loss relative to the perfectly competitive outcome. Draw a diagram labeling the perfectly competitive outcome as A, and the monopolist outcome as B. Be sure to include the marginal cost and marginal revenue curves in your diagram. (b) There are two possible scenarios for the monopolist:...

Please explain one factor that can be responsible for a crisis in trade and a crisis...

Please explain one factor that can be responsible for a crisis in trade and a crisis in finance/banking.

List all the factors that cause the demand curve to shift. Explain what each factor is...

List all the factors that cause the demand curve to shift. Explain what each factor is and provide a real world example of each one.

Subjects