Pricing Strategy Questions

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Business Finance

Question Description

I need help with a Marketing question. All explanations and answers will be used to help me learn.

Watch the video below, read chapters 11, 12 and 13 and answer the following questions:

https://www.youtube.com/watch?v=bKj1_AQpC7k

Question One 

• After watching the pricing video, refer back to your Are You Sitting on a Million Dollar Idea? idea from Week 6. Choose the most beneficial pricing strategies and suggest two ways in which this selection could potentially affect consumer adoption of your new product.

Question Two

• Provide a rationale for your response.

Question Three

• Imagine that you are a manager at a brick-and-mortar store that has an online storefront as an additional source of revenue. The company has tasked you with creating ideas to improve logistics in order to increase profitability. Discuss at least two ideas and how these will increase profitability. 

Explanation & Answer:
3 Questions
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Explanation & Answer

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Attached.

Running head: PRICING STRATEGY AND INCREASING PROFITABILITY

Pricing Strategy and Increasing Profitability
Name
Institutional Affiliation

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PRICING STRATEGY AND INCREASING PROFITABILITY

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The most beneficial pricing strategies and ways in which this selection could potentially affect
consumer adoption of your new product.
The most beneficial strategies incorporate price skimming/market skimming, this strategy
entails charging of much higher prices for a new product when it is being introduced in the market,
and when other organizations start to launch it the price can be lowered, this is necessary to
increase profits in a short time (Besanko & Winston, 1990). It will influence consumer adoption
since the consumers w...

Rcvp_Jevgre (2023)
Duke University

Anonymous
I was struggling with this subject, and this helped me a ton!

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