100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
MGT 103 BATES EXAM 2024|2025 WITH GUARANTEED ACCURATE ANSWERS|VERIFIED $16.99   Add to cart

Exam (elaborations)

MGT 103 BATES EXAM 2024|2025 WITH GUARANTEED ACCURATE ANSWERS|VERIFIED

 2 views  0 purchase
  • Course
  • MGT 103 BATES
  • Institution
  • MGT 103 BATES

MGT 103 BATES EXAM 2024|2025 MGT 103 BATES EXAM 2024|2025 WITH GUARANTEED ACCURATE ANSWERS|VERIFIED __% of ticket sales are now Online - Accurate Answer50 Price - Accurate Answerthe money or other considerations (think: bartering) exchanged for the ownership or use of a product or service...

[Show more]

Preview 3 out of 30  pages

  • August 3, 2024
  • 30
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • MGT 103 BATES
  • MGT 103 BATES
avatar-seller
GRADEUNITS
MGT 103 BATES EXAM 2024|2025
MGT 103 BATES EXAM 2024|2025 WITH GUARANTEED ACCURATE ANSWERS|
VERIFIED




__% of ticket sales are now Online - Accurate Answer✅✅50


Price - Accurate Answer✅✅the money or other considerations (think: bartering) exchanged for
the ownership or use of a product or service


Barter - Accurate Answer✅✅exchanging products and services for other products and services


Calculating the Final Price (Formula) - Accurate Answer✅✅List Price - (Incentives +
allowances) + Extra Fees


College Student ex.
Tution - scholarships + books/housing


Value (Formula) - Accurate Answer✅✅Percieved Benefits / Price

,Value Pricing (strategy) - Accurate Answer✅✅Lowering price while keeping benefits the same


Or


Increasing benefits while keeping price the same


Price to Value Relationship - Accurate Answer✅✅When we pay a higher price, we tend to
perceive a higher quality


Doesn't mean that people will always be willing to pay a higher price though.


Ex) pizza sales example


Profit (Formula) - Accurate Answer✅✅Total Revenue - Total Cost


Broken down further:


(Unit Price x Quantity Sold) - (Fixed Cost + Variable Cost)


Potential Pricing Objectives - Accurate Answer✅✅- Sales Revenue
- Market Share
- Unit Volume
- Survival
- Social Responsibility


Sales Revenue - Accurate Answer✅✅Price x Quantity sold, money made before factoring in
costs


Market Share - Accurate Answer✅✅Ratio of a firms sales to the industry

, - used when sales in an industry are flat or declining


Unit Volume - Accurate Answer✅✅total amount sold


- used when trying to bring up consumer demand to match production capacity


Survival - Accurate Answer✅✅the process of staying alive


- used when a firm cant match rivals price cuts


Social Responsibility - Accurate Answer✅✅when a firm forgoes greater profits to meet
obligations to society


Pricing Constraints - Accurate Answer✅✅Demand


Newness


Cost of Production


Whether Single Product or Product Line


Cost of Changing prices


Type of competitive market


Demand - Accurate Answer✅✅the greater the demand, the higher price that can be charged


Newness - Accurate Answer✅✅products can be sold for higher prices earlier in their life cycles

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller GRADEUNITS. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $16.99. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

80461 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$16.99
  • (0)
  Add to cart