100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
MGT 103 Bates Final Exam Questions and Answers 100% Pass £10.47
Add to cart

Exam (elaborations)

MGT 103 Bates Final Exam Questions and Answers 100% Pass

 0 view  0 purchase
  • Module
  • MGT 103
  • Institution
  • MGT 103

MGT 103 Bates Final Exam Questions and Answers 100% Pass __% of ticket sales are now Online - 50 Price - the money or other considerations (think: bartering) exchanged for the ownership or use of a product or service Barter - exchanging products and services for other products and services Ca...

[Show more]

Preview 3 out of 30  pages

  • January 8, 2025
  • 30
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • MGT 103
  • MGT 103
avatar-seller
1|Page




MGT 103 Bates Final Exam Questions
and Answers 100% Pass

__% of ticket sales are now Online - ✔✔50


Price - ✔✔the money or other considerations (think: bartering) exchanged for the ownership or use of a

product or service


Barter - ✔✔exchanging products and services for other products and services


Calculating the Final Price (Formula) - ✔✔List Price - (Incentives + allowances) + Extra Fees




College Student ex.


Tution - scholarships + books/housing


Value (Formula) - ✔✔Percieved Benefits / Price


Value Pricing (strategy) - ✔✔Lowering price while keeping benefits the same




or




Increasing benefits while keeping price the same


Price to Value Relationship - ✔✔When we pay a higher price, we tend to perceive a higher quality




Author. Barrett, ©2025 All Rights Reserved.

,2|Page




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




ex) pizza sales example


Profit (Formula) - ✔✔Total Revenue - Total Cost




broken down further:




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


Potential Pricing Objectives - ✔✔- Sales Revenue


- Market Share


- Unit Volume


- Survival


- Social Responsibility


Sales Revenue - ✔✔Price x Quantity sold, money made before factoring in costs


Market Share - ✔✔Ratio of a firms sales to the industry




- used when sales in an industry are flat or declining


Unit Volume - ✔✔total amount sold




Author. Barrett, ©2025 All Rights Reserved.

, 3|Page


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


Survival - ✔✔the process of staying alive




- used when a firm cant match rivals price cuts


Social Responsibility - ✔✔when a firm forgoes greater profits to meet obligations to society


Pricing Constraints - ✔✔Demand




Newness




Cost of Production




whether Single Product or Product Line




Cost of Changing prices




Type of competitive market


Demand - ✔✔the greater the demand, the higher price that can be charged


Newness - ✔✔products can be sold for higher prices earlier in their life cycles


Cost of Production - ✔✔firms are forced to price products in a way that ensures their distribution

partners profit as well



Author. Barrett, ©2025 All Rights Reserved.

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 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 EmilyCharlene. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for £10.47. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

50990 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy revision notes and other study material for 15 years now

Start selling
£10.47
  • (0)
Add to cart
Added