Answered: CHARACTERISTICS IF YOU ARE A MARKETER,…

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CHARACTERISTICS IF YOU ARE A MARKETER, HOW ARE YOU GOING TO HANDLE THOSE TYPE TYPES OF BUYER OF BUYERS?

Foundations of Business - Standalone book (MindTap Course List)

4th Edition

ISBN:9781285193946

Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor

Publisher:William M. Pride, Robert J. Hughes, Jack R. Kapoor

Chapter12: Creating And Pricing Products That Satisfy Customers

Section: Chapter Questions

Problem 17CC

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Question

Answer Activity 3

Transcribed Image Text:BUYER TYPES 1. Value buyers 2. Brand buyers 3. Price buyers 4. Convenience buyers THREE SITUATIONS ARISE UNDER PRICE ELASTICITY 5. Products that have inelastic demand will be highly priced 6. Products that have more than elastic demand will be priced low 7. Products that have elastic demand will be reasonably priced. FACTORS AFFECTING PRICING DECISION 8. Organizational Objectives 9. Costs 10. Legal and Regulatory Issues 11. Product Characteristics 12. Competition 13. Distribution Channels 14. Price Elasticity of Demand 15. Competitor's pricing Policies ACTIVITY 3: FILL OUT THE TABLE: TYPES OF BUYER CHARACTERISTICS IF YOU ARE A MARKETER, HOW ARE YOU GOING TO HANDLE THOSE TYPE OF BUYERS?

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