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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

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A vacant lot acquired for $115,000 is sold for $298,000 in cash. What is the effect of the sale on the total amount of the
Artemon [7]

Answer:

+$183,000

$0

+$183,000

Explanation:

Total assets increased by ($298,000 - $115,000) $183,000.

Total liabilities has no change

Total shareholder equity increased by ($298,000 - $115,000) $183,000.

4 0
3 years ago
Which of the following terms is used to describe the actors and forces outside marketing that affect marketing management's abil
larisa86 [58]

Answer:

A.the marketing environment

Explanation:

The Marketing Environment includes the Internal factors (employees, customers, shareholders, retailers & distributors, etc.) and the External factors( political, legal, social, technological, economic) that surround the business and influence its marketing operations.

Some of these factors are controllable while some are uncontrollable and require business operations to change accordingly. Firms must be well aware of its marketing environment in which it is operating to overcome the negative impact the environment factors are imposing on firm’s marketing activities.

3 0
3 years ago
Read 2 more answers
Which of the following describes the infant industry argument for protectionism?
Alchen [17]

Answer:

a. Domestic producers require time to gain experience and lower their unit costs; this will allow these producers to compete successfully in international markets.

Explanation:

According to the infant-industry theory, new industries in emerging and developing economies need protection for unfair competition from industries in advanced economies.  The new industries need time to grow and develop economies of scale that can match those from more developed economies.

Economists describe infant industries as those in their early stages of development and, as such, cannot compete favorably with established rivals.  Proponents of Infant-economies protection argue that infant industries need protection from international competitors capable of flooding domestic markets with cheaper goods. Protection assist infant industries to mature and develop economies of scale.

4 0
3 years ago
Fuzzy Feet is a monopolistically competitive firm that faces the following demand schedule for its socks. The firm has a fixed c
Minchanka [31]

Answer:

The correct answer to the following question will be Option D (The firm should expect the demand curve to shift to the left).

Explanation:

  • In a competitive market only at the long-run rate are going down for the company as new competitors come in the market others for the company seeking to that the profit.
  • Then if business reduces its cost certain company in the industry reduce too as they make limited benefits in that industry as well as for the effect of which quantity of going down and supply, therefore, reduce so companies production curve moves to the left.

The other choice is not per the specified scenario. And the response to the above seems to be the right one.

3 0
4 years ago
Bad research is the cause of many marketing failure​
-BARSIC- [3]

Completely True!

better say that the Person is late to do Researches!!

8 0
3 years ago
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