Question;Do some background research to see if you can find an;example of a legal or regulatory issue that influences the price of a certain;industry or company's product (i.e. taxes, tarriffs, fines, etc.)? As a;marketer, do you think it is wise to inform consumers of the portion of price;that may be attributed to such factors? Why or why not?Q2For what types of products do you think you are price conscious? For what types of products are you value conscious? For what times of products do you think most people display pretige sensitivity? Q3What industries can you think of that compete almost solely;on the basis of price (i.e. price is the key factor in determining consumer decision).;What industries regularly engage in price wars? What do you think the result of;these pricewars is on the company? On the consumer? Do you think the consumer;has more power in companies that engage in price vs. nonprice;competition?Q4Your book talks about how price can be used to communicate marketing information about a product--i.e. most people have a price/quality heuristic that they operate by, which says that the more expensive the product, the higher the quality. What industries does this symbolic pricing seem to work well in, and in what industries would symbolic pricing not be effective?
Paper#46621 | Written in 18-Jul-2015Price : $22