Description
- What are the internal and external factors that you must consider while setting up a price? Discuss.
- When you evaluate the three major pricing strategies (namely value-based pricing, cost-based pricing, and competition-based pricing) you will see that each has strengths and weaknesses. However, according to your assessment, ideally, which one do you think is the strongest? Discuss and explain why.
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Running head: Product Pricing Decision
Product Pricing Decision
Student Name
Institution
Course
Instructor
Date
Running head: Product Pricing Decision
2
The Internal and External Factors in Pricing Decision
When pricing a product, the price tag's decision to settle for is influenced by external
and internal factors. The internal factors include the cost of production, its objectives, and the
product life cycle. The external factors include competition, market forces, government
controls, and channels of distribution...
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YEAR 1
YEAR 2
YEAR 3
Assets:
Residence #1
$243,000
$243,000
$243,000
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138,000
Stocks and bonds
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30,000
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Automobiles
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52,500
Boat
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CD
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Boat loan
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YEAR 1
YEAR 2
YEAR 3
Assets:
Residence #1
$243,000
$243,000
$243,000
Residence #2
138,000
Stocks and bonds
15,000
30,000
57,000
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27,000
52,500
52,500
Boat
34,500
34,500
CD
12,000
42,000
81,000
Cash
5,670
12,150
29,160
Liabilities:
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136,080
68,040
16,200
Mortgage balance #2
138,000
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57,000
Boat loan
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78,750
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24,300
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After reading case 3-1 “Convenience Foods” in the textbook, write an essay that includes the following elements:A form ...
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