what should be Agatha’s Inc. pricing objective? Provide an explanation for your answer.
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Question 3 Week 9: Tutorial 8
Agatha's Inc. is about to introduce a new product in the market, but is not sure as to how it should
price the product. The company is facing intense competition from five other companies. In such a
situation, what should be Agatha’s Inc. pricing objective? Provide an explanation for your answer.
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Solved in 2 steps
- Question 1 Not yet answered Marked out of 10.00 Flog question Answer the following questions: -1 What is the major forces in the company's Macroenvironment? -2 Explain why the aim of customer relationship management is to create not just customer satisfaction, but also customer pleasure. -3 Name the four major factors that influence consumer buyer behavior? -3 Name the four major factors that influence consumer buyer behavior?Question 1 An ad which offers the consumer$100 off on his next grocery store visit is most likely aimed at: Answer a arousing desire b obtaining action c getting attention d holding interest Question 2 Which of the following is NOT anexample of sales promotion? Answer a a banner ad on AOL’s stockpage b bumper sticker that says,“Drink more milk“ c samples of a new low-fat snackcracker given away at a supermarket d a display of fishing equipmentby a sporting goods store in a shopping mall e a small toy in a kid’s“happy meal” at McDonald’s Question 3 The best way to reach INNOVATORSis through: Answer a the mass media b salespeople c local opinion leaders d impersonal and scientificinformation sources e salespeople and the mass media Questions 4 Budgeting for marketing expensesby computing a percentage of forecasted sales: Answer a is especially suitable for newproducts balways results in increasedexpenditure levels from year to year c is very complicated–and thusthis method is not…Question 20 Which of the following is an example of psychological pricing? A Having a low price for a basic product such as a printer whilst having high price on printer ink. B Setting a low price of E10 for 2 bottles of wine that would usually cost E6 each. C Setting the highest possible price for a new games console whilst it's in it's introduction stage. D Having a boxing day sale event running from 26th December to 31st December on Sofas.
- LO18.1: Understand how most wholesalers and retailers set their prices by using markups. LO18.2: Understand the advantages and disadvantages of average-cost pricing. LO18.3: Know how to use break-even analysis to evaluate possible prices. LO18.5: Understand other demand-oriented factors that influence price setting. Eleven-year-old Mallory is a budding entrepreneur. She is always coming up with new business ideas. In early summer 2018, her latest venture is a lemonade stand. Mallory is focused on making a high level of profits – she was saving for a new bike. Mallory is trying to develop a marketing strategy to help her achieve her goals. Last year Mallory helped a friend with a lemonade stand. This year she wants to run her own business. Her parents expect her to pay for almost everything related to her business. Her dad built her a small lemonade stand – and while he donated his time, he did ask for the $12 in materials needed to build the stand. Mallory had to purchase other…Discussion #1 What are the key categories of nontraditional marketing? How has marketing promotion evolved over the past decade? How has technology contribute to the changes? Discussion #1 View Youtube video “CT Style takes over Pepe’s Pizza What are the disadvantages local establishments like Pepe’s Pizzeria face when expanding into different areas? Only 250 words needed8 https://www.linkedin.com/learning/exams/summative/courses/accounting-foundations-2018 NG What is the best way for a small hardware store to compete against Home Depot, when Home Depot can charge less for the same products? Select an answer: Focus on customer service, and create relationships. Try to convince Home Depot to close its store. Buy cheaper, inferior products. Try to find suppliers who will charge less for their products. Skip Previous e to search
- uestion One In this article Srinivasan (2011) discusses the nature of Apple and Amazon as price setters within the tablet market. Critically discuss the different pricing strategies adopted by Apple and Amazon, and how each of these retailers uses their position as a price setter within the market to maximise their profits. Question Two Having considered the nature of Apple and Amazon as price setters, identify at least one other company which will be required to take the role of price taker within this market. Discuss the pricing strategy of this company, and also the impact of the price setters on this company.Creative Homework/Short Project Your friend's small business makes hand-crafted papers that she sells di- rectly to her customers online. Fortunately, her business is growing quickly, and she is considering selling her unique product to other businesses. From your market- ing class, you know that different channel structures exist for both consumer and B2B markets. Summarize the differences between these two channel structures. What advice can you give her?Question: 4. Vanguard Office Supplies Is A Nationwide Retail Chain That Offers Office Supplies And Office Furniture. Company Management Has Decided That, From Both A Competitive And A Cost-cutting Standpoint, Vanguard Should Offer Its Own Private-label Brands For Products Like Student Notebooks, Fillers, Ledgers And Journals, Bond And Linen Paper, And Other Products. ... This problem has been solved! See the answer 4. Vanguard Office Supplies is a nationwide retail chain that offers office supplies and office furniture. Company management has decided that, from both a competitive and a cost-cutting standpoint, Vanguard should offer its own private-label brands for products like student notebooks, fillers, ledgers and journals, bond and linen paper, and other products. To accomplish this objective, Vanguard is considering the purchase of Omega Paper, a manufacturer of paper products and notebooks. A five-year income forecast for Omega is given, along with other pertinent information.…
- Results QUESTION 2 Cafe X is selling coffee in three different sizes at the prices and costs shown in the first table below. As shown in the second table, they are considering raising the price of their small to $2.75, and they project that sales of smalls will go down while sales of mediums and larges will go up slightly. Fill out the tables below to calculate the projected change in gross margin based on the estimated changes in cups sold. You may find it helpful to use a spreadsheet for the calculations. Current Prices Cost Price per Cups Sold Revenue COGS Gross Margin per Cup Cup $ $ Small $2.50 $0.20 2,400 $ $ 24 Medium $3.50 $0.35 1,400 2$ Large $4.50 $0.50 700 $ 2$ Total Increased Price for Small Coffee Est. Change in Cups Sold with Small @ $2.75 Price Cost Gross per per Cups Sold Revenue COGS Margin Cup Cup $ $ Small $2.75 $0.20 -10% $ $ $ Medium $3.50 $0.35 +6% $ $ $ Large $4.50 $0.50 +3% $ $ $ Total Change in Gross Margin (positive number for increase, negative for decrease):…Break-even analysis Aquarius Games Inc. has finished a new video game. Triathlon Challenge. Management is now considering its marketing strategies. The following information is available: Two managers. Haley Chipana and Dan Gillespie, had the following discussion of ways to increase the profitability of this new offering: Haley: I think we need to think of sonic way to increase our profitability. Do you have any ideas? Dan: Well, I think the best Strategy would be to become aggressive on price. Haley: How aggressive? Dan: If we drop the price to $60 per unit and maintain our advertising budget at $15.000.000,1 think we will generate sales of 2,000.000 units. Haley: I think that's the wrong way to go. You're giving too much up on price. Instead. I think we need to follow an aggressive advertising strategy. Dan: How aggressive? Haley: If we increase our advertising to a total of $20,000,000. we should be able to increase sales volume to 1,200.000 units without any change in price. Dan: 1 don't think that's reasonable. We'll never cover the increased advertising costs. Which strategy is best: Do nothing? Follow the advice of Dan Gillespie? Or follow Haley Chipana's strategy?Directions: For each situation, select one option you think will help increase profit. Put the letter of your choice in the blank. Below each answer, write your rationale. When you have finished, ask your instructor for a copy of the answer guide to verify your responses. A. Avoid extra payroll expenses. B. Get the best rates on advertising. C. Change the product you provide. D. Use resources wisely. E. Beat the competition. F. Get the best rates on supplier purchases. G. Eliminate some free services. H. Increase worker e iciency. _1. A shop that sells fine glassware offers gift wrapping at no extra cost. Rationale: 2. Two stores sell the same video game at the same price. Rationale: 3. There are 12 places to buy the yarn needed for a knitting factory. Rationale: 4. Employees at a printing company do not have a system for completing their tasks quickly and accurately. Rationale: 5. At a sign-making company, the extra metal is discarded. Rationale: