Asap Company XYZ is considering offering a new service in the field of telecommunication, in your opinion which source of competitive advantage they should adopt? And why?. Also which pricing strategy to apply and Why?
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Company XYZ is considering offering a new service in the field of telecommunication, in your opinion which source of competitive advantage they should adopt? And why?. Also which pricing strategy to apply and Why?
The competitive advantage is defined as the favorable position of the business from where they derive higher profits. It helps the business to over perform in the market compared to its rivals. The company may gain advantage in its production cost, differentiation, technology, and innovated products. Thus, the modern era businesses are agressively involving into research and development practices to gain fight competition with getting first mover advantage in the market.
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- 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?Identify two stores at which you shop, one of which uses everyday lowpricing and another that uses a high/low pricing strategy. Do youbelieve that each store’s chosen strategy is appropriate for the type ofmerchandise it sells and the market of customers to whom it isappealing? Justify your answer.How might different classes of channel members, rival brands and special arrangements between the manufacturer and channel members affect pricing strategies?
- McDonald’s sells Happy Meals for as low as $2.50 and Value Meals for as high as $5.50. How would you describe this pricing strategy? What segmentation variables are being used?What types of retailers often use a high/low pricing strategy? What types of retailers generally use an everyday low pricing strategy? How would customers likely react if a retailer switched its pricing strategy from one to the other?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.
- What types of retailers often use a high/low pricing strategy? What types of retailers generally use an everyday low pricing strategy? How would customers likely react if a retailer switched its pricing strategy from one to the other? Explain your respond.A computer printer sells for $376 after a 12% discount. What was its original (list) price? (Round to the nearest cent.)Competitive advantage can be gained through options A. Skimming pricing strategy B. Focusing on distribution of your products in large retail stores C. Customer service enhancements D. Strategically following a low cost strategy
- company sends people to shop at similar retailers to make sure it is charging comparable prices. What pricing strategy does company employ? A. Market Penetration B. Price Skimming C. Going Rate D. Loss LeaderDiscuss the three major pricing strategies in relation to Hammerpress. Which of these three do you think is the company’s core strategic strategy?Which of these is an accurate observation about pricing in today's business environment? A) The internet empowered buyers but doesn't help resellers optimize their pricing. B) Across industries and regions, most companies now use the same pricing methods. C) Many companies do not handle pricing well and fall back on familiar methods that aren't as effective as they should be. D) With ubiquitous online price matching, pricing decisions are more or less automatic these days. E) The hope of offering personalized price promotions hasn't really panned out.