Answer: Your answer would be <u>Size</u> of the markets.
Hope htis helps!
Answer:
Penetration pricing is a pricing strategy where a company charges less than its competitors in order to entice its competitors' customers to patronise them instead.
Competitive pricing on the other hand will see a company charging the same price as its competitors.
Benefits of using Penetration pricing over Competitive
- Reduce competition - If the company engaging in penetration pricing is large enough with more influence in the market, charging less than competitors might lead to competitors leaving the market as the prices will be too meagre for them to cover costs.
- Market Dominance - using penetration pricing can lead to customers moving from the competitors to the company using penetration pricing thereby giving that company market dominance.
- Economies of scale - Penetration pricing allows the company to sell more quantity of its product which means that it will have to produce more and this will reduce average costs for the company.
Risks involved
- Price War - There is a risk of a price war if a company uses penetration pricing. A price war happens when a company reduces its prices and their competitors react by reducing their own prices as well. It might led to a situation where this continues until all the companies are making significant losses.
- Brand Image damage - Cheaper products are usually perceived as having lower quality. Reducing prices might see customers believing instead that the brand is poor and so they may avoid it.
- Attracts low loyalty - The customers gained through this strategies most often have little brand loyalty and when a better deal comes than the one they are being offered in that moment, they will leave.
Answer:
Explanation below
Explanation:
When organizations are looking at hiring interns, they should make sure it does not go against the laws of the Fair Labor Standards Act (FLSA) which broadly defines what it means to employ someone and remained silent regarding whether interns should be exempted from minimum wages.
FLSA provides that if your company like that of Wayne in the question, benefits from the use of interns they hired, then they must pay them a sum that is equivalent to the minimum wage.
But if the intern does not do any work that directly benefits the organization, but just there to learn and watch how things are going, then it can be justified in not paying them at all.
so Wayne's rights have been violated since the wage was below the minimum wage.
Jersey's Smoothie Bar set pricing structure
as a quantifiable means target return on investment pricing.
<h3>What is pricing method?</h3>
A pricing method is used to calculate the price to be set as regards a product so as to have a return with desired profit .
Therefore, Jersey's Smoothie Bar utized this pricing strategy to meet their target.
Learn more about pricing method at;
brainly.com/question/329739
Answer: (B) Focus group
Explanation:
Focus group is refers to the group of people that basically focus on providing the feedback on various types of product, concept and the services. It is one of the process of market search processing in which the group focuses on the discussion for finding some useful information or data.
The focus group is mainly used in an organization for collecting the feedback on the new services and the products. The focus group is also refers to the type of quantitative research method.
Therefore, option (B) is correct.