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Nadusha1986 [10]
2 years ago
13

1. Discuss why is finding and implementing the right pricing strategy critical to a company’s success?

Business
1 answer:
statuscvo [17]2 years ago
4 0

The importance of pricing in business is one of the most important features that decides the profitability of the business. Following are the suitable reasons for it :

1) Effects on the profit margins - The pricing of the product determines how much the company will make per unit of the product sold. If the pricing is apt, then the items sold will eventually increase and profitability will rise.

2) Competition - Competition in the market depends ultimately on the pricing and quality of the product. The right pricing of the product (low from your competitors) gives you a competitive advantage over other similar competitors.

Thus, setting the right price is very critical in a business. (for example how setting prices to 99$ and 100$ makes the difference).

An example of a well-priced product/company is Mcdonald's, it uses the low-cost strategy to maximize its profit and market share. It follows the right pricing of its products, which gives McDonald's an edge over its customers and capitalizes on the e-market.

Learn more about implementing at

brainly.com/question/25605883

#SPJ4

You might be interested in
Why is compounding interest monthly better than yearly ?
dalvyx [7]

Answer:

More interest payments on yearly computing.

Explanation:

It is generally said that if you can get monthly annual payments compared to yearly payments take it without a thought. This statement explains a lot; normally month payments are not available, but in some case they are. In annual payments, 12 months are compounded that is why it is higher rate compared to monthly. So, monthly payments are preferred

6 0
3 years ago
Following are transactions for Valdez Services, a company owned by Brina Valdez. A. Brina Valdez invested $20,000 cash in the co
Sphinxa [80]

Answer:

Transactions that create revenue :

Transaction B

Transaction C

Transaction D

Journal Entries :

<u><em>Transaction B</em></u>

Cash $900 (debit)

Sales Revenue $900 (credit)

<u><em>Transaction C</em></u>

Cash $10,000 (debit)

Unearned Revenue $10,000 (credit)

<u><em>Transaction D</em></u>

Cash  $3,500 (debit)

Accounts Receivable  $3,500 (credit)

Explanation:

Transactions that create revenue

Hint ; Revenue is the increases in income that results in increases in assets and decreases in liabilities

3 0
3 years ago
A domestic company creates a strategic partnership with a foreign company in order to enter a foreign market. Both companies sha
Masja [62]

When two companies come together strategically to operate is called a joint venture.

<h3>What is a Joint Venture?</h3>

A Joint simply put is when two separate entities or business agree to share resources with the aim of archeiving similar or one objective.

Mostly, this is carried out when a  company intend to enter a foreign market.

Learn more about joint venture here:

brainly.com/question/9389546

6 0
2 years ago
Joe met with all of his department heads to listen to their opinions about buying a new machine. Although they all thought it wa
balandron [24]

Answer:

A. Democratic

Explanation:

Leadership is art of guiding & motivating a group of people to achieve a common goal.

Democracy is form of governing based on considerate importance to all people's opinion in group. It is opposite of 'autocratic' governing where leader has immense power & takes decision based on only own opinion.

Joe is considering opinion of all the members of organisation, while taking a decision of purchasing a machine. He paid attention to not only opinion of department heads, but also opinion of other employees. Despite of he & department heads perceiving it to be a good idea, employees considered it to be unnecessary. Thereafter Joe didn't purchase the machine. So, his decision encompassing all people's opinion depicts Democratic Leadership.

6 0
3 years ago
Acheson Corporation, which applies manufacturing overhead on the basis of machine-hours, has provided the following data for its
Amanda [17]

Answer:

Over-applied by $3,842

Explanation:

If<em>, Applied Overheads > Actual Overheads, overheads have been overapplied.</em>

<em>and</em>

<em>Since, Applied Overheads < Actual Overheads, overheads have been under- applied.</em>

Applied Overheads = Predetermined rate x Actual Activity

where,

Predetermined rate = Budgeted Overheads  ÷ Budgeted Activity

therefore,

Predetermined rate = $ 157,050 ÷ 4,500

                                  = $34.90

Applied Overheads = $34.90 x 4,580 = $159,842

<em>Since, Applied Overheads > Actual Overheads, overheads have been overapplied.</em>

Over-applied overheads = $159,842 - $ 156,000 = $3,842

5 0
3 years ago
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