Mini Sim 03 - Wk 3

Describe the first in, first out, last in, first out and average 4.7 cost methods of stores pricing.

In the list of Attractive Price Strategies, what is the most appropriate strategy for a t-shirt brand? why? (support your answer with literature)

The cost to produce the shake is relatively low, with total manufacturing costs running about $0.05 per ounce. Each shake is eight ounces. What pricing strategy do you recommend for this product?

Determine the best strategy for pricing a new product, giving two reasons for your choice

Retailers typically use two basic pricing strategies.  Explain the advantages of the two pricing strategies and provide examples for each type.  When setting prices, what are some important factors that retailers must consider?

Discuss pricing methods for selected 5 brands and justify your selection of method

Which pricing objectives will you use for your product? Consider the product life cycle, competition, and product positioning for your target market during your discussion. PlayStation

What are Jetblue pricing strategies? In what way it works in alignment with Jetblue competitive marketing strategy

A study indicated that the optimal price for a consumer product is $32.45. Most products in the market sell for $29.99. What price would you suggest to retailers for selling the product and why? A haute cuisine restaurant is opening down the street, and its owner asks you for advise on pricing. Should you suggest that the restaurant price an appetizer at $6.99 or $7, and why?

What are the factors that influence cell phone mobile plan pricing?

Does "value" mean the same thing as "low price"? How do these concepts differ? Pick two competing brands from a familiar product category (watches, perfume, consume electronics, restaurants) - one low priced and the other high priced. Which, if either, offers the greatest value? Why might the strategy for setting a product's price need to be changed when a product is part of a product mix? What are the five product mix pricing strategies? Provide an example of each. (4 points) Alicia is a self-employed hair stylist who owns her own salon. She has asked you to consult with her on how to generate more revenue. Using the price adjustment strategies discussed in the chapter, advise Alicia on her options to increase sales. Please be detailed in your response with why you are choosing each.

Review the various types of pricing strategies. Which of these is the most appropriate for PlayStation products?

What then is the product’s pricing based on, if not costs? Present the product’s pricing and what the pricing strategy should be for your company’s IT/digital product.

What is meant by product-line pricing?

Briefly list and explain the decisions required to design a full sales promotion program(eg: discount, contest, etc) for promoting the sales of Lux lotion in this upcoming winterusing the price adjustment strategies.

A business has significant costs in the development stage of a new product prior to launch as well a high number of decommissioning costs at the end of the product’s life. Which method of costing would be most suited for the business to ensure that all of the costs associated with the product are considered in arriving at a pricing strategy to help achieve profitability over the product’s life? A Activity based costing B Target costing C Marginal costing D Total lifecycle costing

Why might penetration pricing potentially negatively impact brand image and product positioning in the long run?  Given this risk, why would a marketing manager use penetration pricing?  Identify a brand  that you believe is engaged in penetration pricing.

List  the general approaches to pricing. Select examples of products that you regularly use.        i.          Notice the price of each of these items For each item,      ii.          State the main benefits you are looking for in using the product.     iii.          Does the price communicate the total benefits sought?     iv.          Does the product’s price suggest good value?     v. Do you think the manufacturer or retailer is overcharging or         undercharging consumers for the product?

Explain how brand of a commonly purchased consumers packaged good, such as toilet tissue, could be skim-priced?

what is IKEA pricing decisions?

Discuss the three major pricing strategies in relation to Hammerpress. Which of these three do you think is the company’s core strategic strategy?

developed a new weight-loss breakfast Shake that has proven to be successful in the test market phase. Users have experienced an average weight loss of two pounds per week. You hold a patent on the product. The cost to produce the shake is relatively low, with total manufacturing costs running about $0.05 per ounce. Each shake is eight ounces. What pricing strategy do you recommend for this product?

Week after week, consumers shop for many of the same groceries. At some point, the product may be priced the same and look the same as before but with less in the package. If consumers are not made aware of the change, is this deception? Is this different from deceptive pricing? Explain.

the challenge with using this pricing scheme is determining an accurate relationship between the price per unit and the quantity demanded. a. market-based pricing b. cost plus pricing c. percentage of mark-up d. target costing