Suggested retail price

1. Do you believe that prices should reflect the value that consumers are willing to pay or should prices primarily reflect the cost involved in making a product or service? Defend your answer. When it comes to determining the sales price of the company, the managers of the company must look at multiple variables such as expenses and competition. Most of the time companies will look at the amount of expenses they have put into their products to determine the sales price. Companies must look at…

I. Item Description Many say that there cannot be life after death, but with the Bios Urn, ‘death’ is objectionable. The Bios Urn is a decomposable urn made from “coconut shell, compressed peat, and cellulose” which is used to encase the cremated remains of both humans and pets (Navarro). The dimensions of the Bios Urn measure at “16 x 16 x 33 cm”, have a capacity of five point eight pounds, and features a medium, which is utilized to grow trees and plants with the use of the cremated remains…

competitiveness. To develop its business, Sam Walton, the founder of Wal-mart was looking for low prices, and he decided to get cheaper imports from China. As Wal-Mart begun to grow its business, its environment changed; it forces suppliers and competitors to sell at their cheapest price. Nowadays Wal-Mart is one of the most successful companies in the world. However their slogan, ' 'everyday low price ' ', has a negative influence on the American economy. 2. What did you notice at the…

quality control, storage, packing and shipping. Support department costs need to be allocated to the functional departments – factories. • High level of product diversity; wide range of different cheeses each having a unique production process. • Price…

that they are most concerned about price, weight, durability, degradability and ease of storing. However, the company needs to take several other factors into consideration, including ease of making, product safety, and manufacture cost. Here, the manufacture cost and the sale price are represented by a single criterion, cost, because the relation between these two is positive correlation, meaning high (or low) manufacture cost leads to high (or low) sale price. These needs of customers and…

select? Explain your position. When evaluating the position that the Cervena products will be looking to gain within the market, a market based pricing strategy was chosen. The chosen pricing strategy is perceived value pricing; this is where the price is based on how the markets values the product (Lee & Carter, 2012). From this, the product can be positioned into the market as to where its value proposition fits based on the estimates of superior quality, image and service. This means that…

Through the mature technology of producing, more and more people are considering to buy a tablet since the prices range is becoming more flexible. We can measure the product life cycle is in the mature stage. Many competitors enter the market and price war is beginning. The tablet is not only for the high-end user, but also the low-end user. Besides, the tablet market is undergoing the transformation process, because customers…

What types of songs do you think Apple tends to sell at the lower prices? A business is in the market to make money and they are always looking for ways to increase their profit margin. Therefore, if you consider that Apple entry this market in 2003 that now six years later they would be thinking of ways to make more money. So, if you lower the prices of music sold online, you get more people to buy that music, but music sold through other means would take…

mirrors, bedroom and bathroom fittings and decorative items. The company focuses on offering high quality items under easy to manage payment plan. 1. Strategic directions • Increase in sales and gross profit in the next three years • Increase its retail and online presence in homewares • Making the customer more loyal so that they don’t switch to other brands • Maintain high and unmatchable quality of homewares • Establish brand recognition among the people of Brisbane • Secure Australian…

Cost leadership strategy Nestlé uses significant differentiate strategy for cost leadership strategy. Nestlé follows less price transparency and significant differentiate of products in business to enhance the productivity and profit of the organization. By using cost leadership strategy, Nestlé winning market share from the cost-conscious or price-sensitive customers. They follow this differentiation strategy due to the changing demand of customers. In addition, this strategy will decrease the…