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LSUS Chen- MBA 706 Module 4 Questions and Answers 100% Accurate
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LSUS Chen- MBA 706 LSUS Chen- MBA 706 Module 4 Questions and Answers 100% AccurateLSUS Chen- MBA 706 Module 4 Questions and Answers 100% AccurateLSUS Chen- MBA 706 Module 4 Questions and Answers 100% Accurate4 Questions and Answers 100% Accurate Cost reductions - ANSWER-Products are modified to pr...

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  • October 10, 2024
  • 13
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • lsus chen mba 706 module 4 questions and answers
  • lsus chen mba 706 module 4 answers
  • cost reductions answer products are modified to

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LSUS Chen- MBA 706 Module 4

Questions and Answers 100%

Accurate


Cost reductions - ANSWER-Products are modified to provide similar

performance but at a lower cost:

ex: iphone XS vs Iphone XR




Price - ANSWER-Pricing decisions are hard to make due to the complexity of

interaction among consumers, competitors, and the distribution network:

and decisions are made quickly without testing

- usually there is a large and aggressive company who determines the prices

from the industry, and almost all other companies are obliged to follow,

except a few niche companies




Pricing strategy - ANSWER-Price takers:

- follow the prices set by other firms

Price makers:

, - Possess the market power to determine the levels and patterns of price

that others follow




Meeting or following competition: - ANSWER-Follow competitor's prices until

establishing a good reputation




Single segment concentration - ANSWER-- firms focus on a single segment

- very high-risk strategy, but usually works well for small companies

- this type of concentrated marketing efforts can develop a strong market

position ( brand image of specialist)




Survival - ANSWER-Prices are reduced to below cost in order to maintain a

sufficient cash flow




Maintenance and improvement of market position - ANSWER-Prices are set to

increase market share and minimize the possibility of price wars




Pricing to reflect product differentiation - ANSWER-Prices are set differently

for each market segment and to create different perceptions of their

product's value

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