Is price an indicator of quality?  Explain and give an example we didn’t discuss in class. Use a supporting information to help illustrate your answer (a current example or advertisement).

Q: A. “There is constantly a shift in supply and demand curves and markets are never at equilibrium. As…

A: A rightward shift denotes an increase in either demand or supply. The inference is that at each…

Q: Answer the questions below based on the following scenario: Pricing Scenario: You just won a new…

A: a. There are many different ways to determine the price of the used laptop in the economy. The…

Q: Setting price based on what a customer is willing to pay is called O cost based pricing O…

A: Pricing strategy: - it is a method by which we can determine the price of a product by taking all…

Q: Determine an effective marketing response to a change in the social-cultural • environment.

A: The socio culture environment deals with the relationship among the society, culture and marketing.…

Q: DO YOU THINK THE BENEFITS WILL OFFSET THE COSTS OF THE NEW  HILTON CANCELLATION POLICY? WHY? 2. DO…

A: * ANSWER :-    From the given information the answer is provided as ,

Q: In advertising, a business is not only making consumers aware of the existence of the product and…

A: Income elasticity is a parameter that measures how the demand for a service fluctuates to a change…

Q: Supplier Set Price Versus Market-Determined Price: Collusion or Competition?

A: In an economy, there can be two types of markets such as competitive and anti-competitive market.…

Q: Marcella owns a sandwich shop. She decides to charge different prices to groups of customers. She…

A: The lower the elasticity of demand, the higher would be the final price paid by customer

Q: In a bygone day, airlines issued discount tickets to students who would be willing to fly on a…

A: Price discrimination refers to a marketing strategy in which a vendor charges different types prices…

Q: An all-you-can-eat buffet invites various types of customers. The ones who value food at $20 but eat…

A:

Q: The price that will maximize the revenue from selling fries is

A: Solution 1)Consider the above given that X+1000p=700 X=700-1000p We know that Revenue R=X×Price

Q: In what situation would a company give a discount?

A: Company is a profit making as well as employment generating organization. It provides the consumers…

Q: Explain the meaning of "Market Equilibrium" and support your answer with suitable full-labeled…

A: When talking about a market, a most efficient output is considered as market equilibrium.

Q: Which of the following was NOT something that is needed in order to be able to price discriminate?…

A: Price discrimination refers to the policy of a firm to charge different prices for the same product…

Q: Vaporware is the designation for products announced by firms well before their availability. For…

A: A vaporware declaration may be a promoting procedure to measure client interest in a specific item -…

Q: Commodities   a) Rely heavily on advertising to see their sales grow.   b) Have prices that are…

A: Commodities include raw materials and equipments used by producers for producing other goods and…

Q: You are the curator of a museum.  The museum is running short of funds, so you decide to increase…

A: The decision of the curator of a museum will be based on the price elasticity of demand. The price…

Q: Using a product (good or service) of your choice, provide an example of a situation where the demand…

A: Answer to the question is as follows:

Q: :Choose to influence the poultry market in the following cases (choose the correct answer) .2…

A: Market demand curve for a commodity shifts as a result of a change in consumers income, their…

Q: Why would good quality second hand cars withdraw from the market? Use economic theory to discuss…

A: The used-car industry is frequently used to explain the consequences of imperfect information. In…

Q: A New York real estate firm priced a house they were selling below reasonable expectation regarding…

A: A market is a place where the buyers and sellers interact with each other and the exchange of goods…

Q: If providing full information about products raises prices, should businesses still be required to…

A: A market is a place where the buyers and sellers interact with each other and the exchange of goods…

Q: Concept Integration. Review the theory ofsupply and demand in Chapter 2 (see pages 39–43).How do…

A: When selling a product or service, a company can employ a variety of pricing methods. Senior…

Q: In evaluating marketing actions, what are the two dimensions on which they should be evaluated?

A: The marketing process is a method of identifying a marketing campaign and opportunity, gathering and…

Q: In the figure above, when the price increases from point A to point B, the quantity effect on Total…

A: The quantity effect on total revenue will be = 800 - 1200 * 30 = -12000

Q: he price signals the willingness-to-pay of all consumers in the market. I if a producer plans on…

A: Demand and supply, in financial aspects, connection between the quantity of an item that makers wish…

Q: Multiple Choice question if in the short run the demand for transit by train is inelastic and in…

A: In a market, price elasticity of demand affects the total revenue gained by a producer when price…

Q: Imagine a scenario in which the fashion industry is suffering from monopolistic price gouging and a…

A: Market failure refers to a situation in which market fails to perform its basic functions and fails…

Q: An undifferentiated marketing strategy would include? * One marketing mix for each target market Two…

A: Marketing strategy is a long-run, innovative approach and an overall game plan of any organization…

Q: Consider the supplier of a product that is an inferior good. For instance, an aluminum supplier for…

A: Inferior Goods: The inferior goods are those commodities that are inversely related to the income of…

Q: Customers who are concerned with long-term availability of a product or service are focused on which…

A: When considering a long term purchase, the consumer is concerned about various factors. The consumer…

Q: Name some of the challenges marketers encounter when developing advertising and promotional…

A: The firms manufacturing a product have its own risk and benefits like-wise the marketing aspect of…

Q: What makes the customer experience and loyalty of shoppers at Trader Joe’s unique?

A: Trader Joe is truly one of a kind. It has an unique approach to shopping as it tends to regularly…

Q: What is the maximum daily revenue? and how much should the retailer charge in order to maximize…

A: Maximum daily revenue: As the name suggests maximum daily revenue is the maximum revenue that can be…

Q: What Is Price Performance Measures?

A: Excluding other factors,products having a lower price/performance ratio are more desirable.

Q: “Keep Fit” Gym As today’s consumers are becoming more health conscious, the demand of fitness…

A: The modelling of consumer behavior is important for the managers to understand the tastes and…

Q: Conditions for market effiency

A: Market efficiency not necessarily be market price be equal every point of time. it should be free…

Q: Online companies have transformed the way businesses find the best supplies t the best prices. True…

A: A company or an inventive entity engaged in commercial, industrial, or professional activity is…

Q: There is a big sale at the Try-n-Save store in Springfield.  Thor purchases a new pair of sweat…

A: Discount is the amount that is waved-off for the customers. This can be due to increase in the sales…

Q: How are gender stereotypes reinforced in the stick figure product?

A: A gender stereotype is a general assumption or preconception about what attributes or…

Q: what are the reason why business sell their products on a discount?

A: Offering discounts on buys is an approach to rapidly bring individuals into your store. Whenever you…