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  • The Role Of Pricing In An Oligopoly

    Oligopolistic markets are not unusual, they are present in every country. An oligopoly is a market with a small number of large firms that control the market, these firms holding a significant market share. The Australian supermarket industry is an oligopoly with Coles and Woolworths dominating the market share; this report investigates the pricing structures of an oligopoly and explores the factors involved. The Theory of Pricing in an Oligopoly Pricing in an Oligopoly is difficult, firms can choose to lower, raise or fix their prices. Raising and lowering prices is often seen as a way to compete in a market, however for an oligopoly it can have negative effects. Due to the few firms within the market, competition is high and gaining the…

    Words: 1061 - Pages: 5
  • The Pros And Cons Of Pricing

    element of the original Ps of the marketing mix, may generally be perceived in terms of the specific monetary value that a customer attaches to goods and services (Kent & Omar 2003). Farahmand and Chatterjee (2008) conceptualise price within the auspices of the value assigned to something bought, sold or offered for sales, expressed in terms of monetary units. It also pertains to how buyers view a product’s price, as high, low or fair, which ultimately affects consumers’ willingness to buy the…

    Words: 861 - Pages: 4
  • Pricing Strategy Analysis

    PRICING STRATEGIES Pricing products or services one of most challenging processes we take on Price denotes what a seller requires in exchange for transferring ownership or use of product or service Total sales revenues dependent on two factors: volume and price Even small variations can radically alter revenues Team Assessment: Pricing: How Low Can You Really Go? 1. Are price cuts the only way to go during tough times? 2. How can you determine if customers really want price cuts? 3. What is an…

    Words: 1777 - Pages: 7
  • Pricing Strategies In The Supermarket

    The role of supermarket having control on consumer spending is discussed in four different ways in literature. First, is the pricing strategies that are used in the supermarkets to trick consumers into thinking they are getting a good deal. Article 2 stated that “price is unquestionably one of the most important marketplace cues” (234). Authors have noted “several researchers have argued that a price reduction in coupon form may produce an increase in consumer response beyond that which would…

    Words: 890 - Pages: 4
  • Benefits Of Psychological Pricing In Marketing

    Price is usually defined as “what the consumer must give up to purchase a product or service.” However, there is so much more to pricing than that. Pricing is one of the most powerful effects of marketing. Every decision you make when purchasing an item or service is based on the price. It’s usually the most important element when deciding to buy something. Price tells the you if the product is quality, luxury, commodity, overpriced, or a bargain. Even if the you like the item and desperately…

    Words: 710 - Pages: 3
  • Drug Pricing Research Paper

    The trend of drug price increase is accelerating and steep. Pharmaceutical companies can charge as much as they want since there is no whatsoever price regulation in the US. Medicare was forbid to negotiate drug prices, and FDA does not take pricing into account for drug approval. On the contrary, Government overseas like Canada, Australia and European countries has implemented some sort of price regulations or price negotiations and also conduct their own evaluation of the therapeutic benefits…

    Words: 1043 - Pages: 5
  • Case Study Of Pricing Cues

    Pricing Cues The textbook author included a case about the different pricing cues. While reading this case I learned that prices ending in 9 not only show signs of a bargain but it can also increase demand. The case author says in one study involving women’s clothing, raising the price of a dress from $34 to $39 actually increased demand by a third. I did not know raising a price could also increase sells, I guess that’s the power of 9. On page 318, there is a table showing the different…

    Words: 770 - Pages: 4
  • Beverage Pricing P2 Business

    In my second investigation, I am going to recommend a promotional strategy for Jennie and to justify a suitable pricing strategy which she should use if the clothing shops were to open up in Leyton and also telling Jennie the relevant information needed to do so. First, what is the definition of the price? Price is the process in which a business sells their products or service. It is the only element in the market mix such as the products, place and pricing, which brings in money to a business…

    Words: 1659 - Pages: 7
  • Dynamic Pricing Case Study

    It can be easily expected from a company to offer a static price for their goods and services, but how does static pricing maximize profits? Currently, companies who make sales online are able to collect data on their current and potential customers regarding their demographics and track their search and purchase history. With the collected data, companies can produce a price that may match the dollar value of certain customers – this is called Dynamic Pricing. Dynamic Pricing is a pricing…

    Words: 816 - Pages: 4
  • Embed Video: Psychological Pricing

    You Do: how might you use psychological pricing to increase sales of your product or service Video: Psychological Pricing (embed video) Team do: 1. What philosophy governs supermarket psychology today? 1. Shortcuts to the wallet. 2. What is the impact of the word “special”? 1. Psychological process: special=good 2. Scarcity effect: on special=only for short time 3. What is the impact of packaging? 1. Packaging confirms concept of quality=high price…

    Words: 1001 - Pages: 4
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