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yulyashka [42]
3 years ago
9

Which factor sets the floor on setting a​ product's price?

Business
1 answer:
ZanzabumX [31]3 years ago
4 0
The customer's value perceptions sets the floor on setting a product's price. 

If a customer perceives something to have a lot of value (be considered an 'expensive' item) then it typically will hold more value to them. When looking at a customer's perceived value, marketers are looking at what a customer thinks the benefits/values of that product is in comparison with another. 
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Trust Machines Inc. is a company that manufactures and markets consumer electronics. The unique microprocessors developed by the
enyata [817]

Answer:

Difficult to Imitate (I)

Explanation:

The unique microprocessors developed by the company contribute to its high resource immobility. According to the resource-based view of competitive advantage, when a company is achieving resource immobility, it allows the company to create competitive advantage.

The theory of Resource-Based View is that if Trust Machines can create a company of people, processes and technologies that cannot be easily copied or imitated by competitors it means that your resources are diverse and immobile, and it can create competitive advantage.

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3 years ago
2. What are the advantages of utilizing a targeted marketing strategy?
aleksklad [387]

Answer:

Explanation:

Target marketing is a way of focusing your advert on specific people, location, age group, interest, in order to have a maximum yield.when utilizing target marketing strategy, there are a lot of advantages that are attached to it as discussed below;

  1. Precise advertisement ; when you have a target market you are aiming at you will not waste your energy in running numerous advertisements to the target area you only advertise what they need. e.g if a certain area in London demands for ladies bags so often and you make both female bags and male bags, your advert will definitely be on the bags that are demanded more often.
  2. It saves cost ; cost of running advert for so many goods and services will be reduced because you already know your target customers you only advertise what they needed with little money and more result.
  3. Loyalty; when you channel your strength in an area of target you become more reliable and trustworthy and you start to gain loyalty from your existing customers and referrals from them.
  4. Increased customer base your customer base will increase because your customer base has friends and family so they introduce you to them and from there your customer base increases.
8 0
3 years ago
Read 2 more answers
How do price ceilings and price floors restrict the free exchange of prices?
Yuki888 [10]
Price ceilings are the limit of the prices to go high above the given ceiling while the price floor limit the prices to go below the given amount. The two restrict the free exchange of prices by putting a range of prices allowable only for a certain product. The prices are already limited between the price floor and the price ceiling.
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3 years ago
At a QSR, customers are _____ to get their own drinks.
const2013 [10]

Answer:

im pretty sure it's encouraged

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3 years ago
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Ben makes an appointment for a $50 haircut, buys a bike for $250, and agrees to work for Coding Associates for one year for $5,0
algol13

Answer:

c.

Explanation:

Based on the information provided within the question it can be said that in order for it to be enforceable, a writing is required for the employment agreement. This is because the employment requires initial work for a month before receiving payment for the services provided. Unlike the other two purchases, since money is being exchanged directly for a product or service at the exact moment.

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3 years ago
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