Understanding Business
Understanding Business
12th Edition
ISBN: 9781259929434
Author: William Nickels
Publisher: McGraw-Hill Education
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Chapter 14, Problem 3DCS
Summary Introduction

To discuss: The importance of price in buying various different products and the non price factors which are more important than price.

Introduction:

The factor, except the price of the product that affects the demand of a product and considered important by the customers is known as the non-price factors.

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Recall your past experiences. Have you been given discounts for goods youbought? When and in what occasion? When do sellers give discount? Give anexample and illustrate how it is computed. Give also an illustration of how selling price is determined.
Why does a box of mac n cheese cost significantly less than an electric scooter? Explain. Why do you think the price of a box of mac n cheese costs around $4.50? How is that price set? Could you find a lower price for this item? A higher price? Why?
What other factors besides price should be considered before changing your purchasing procedures?
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