Price comparison sites such as trivago.com and pricegrabber.com havebeen created for a variety of products and services. These sites allowconsumers to see the prices from a variety of vendors and let themchoose the lowest-priced option without visiting different websites.What are the benefits of these sites to the firm? What are the benefits toconsumers?

Price comparison sites such as trivago.com and pricegrabber.com havebeen created for a variety of products and services. These sites allowconsumers to see the prices from a variety of vendors and let themchoose the lowest-priced option without visiting different websites.What are the benefits of these sites to the firm? What are the benefits toconsumers?

Purchasing and Supply Chain Management

6th Edition

ISBN:9781285869681

Author:Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson

Publisher:Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson

Chapter11: Strategic Cost Management

Section: Chapter Questions

Problem 13DQ

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Similar questions

Does "value" mean the same thing as "low price"? How do these concepts differ? Pick two competing brands from a familiar product category (watches, perfume, consume electronics, restaurants) - one low priced and the other high priced. Which, if either, offers the greatest value? Why might the strategy for setting a product's price need to be changed when a product is part of a product mix? What are the five product mix pricing strategies? Provide an example of each. (4 points) Alicia is a self-employed hair stylist who owns her own salon. She has asked you to consult with her on how to generate more revenue. Using the price adjustment strategies discussed in the chapter, advise Alicia on her options to increase sales. Please be detailed in your response with why you are choosing each.
Is it ethical for companies to split-test price points by offering different pricesto different groups of customers? Why or why not?
List the general approaches to pricing. Select examples of products that you regularly use. i. Notice the price of each of these items For each item, ii. State the main benefits you are looking for in using the product. iii. Does the price communicate the total benefits sought? iv. Does the product’s price suggest good value? v. Do you think the manufacturer or retailer is overcharging or undercharging consumers for the product?
What are the five key price methods categories? Provide at least two explanations of unique techniques within each group.
Being at the premium end is category upon itself. Describe the indicator of premiumness or high quality and high price that can apply to most types of products
In the list of Attractive Price Strategies, what is the most appropriate strategy for a t-shirt brand? why? (support your answer with literature)
Week after week, consumers shop for many of the same groceries. At some point, the product may be priced the same and look the same as before but with less in the package. If consumers are not made aware of the change, is this deception? Is this different from deceptive pricing? Explain.
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Trade discounts for televisions that have list price of $250.00 are 15%, 10% and 8%. Find the billed cost for the television.
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The most effective pricing strategy to use when there is a brand new product in the market?
A study indicated that the optimal price for a consumer product is $32.45. Most products in the market sell for $29.99. What price would you suggest to retailers for selling the product and why? A haute cuisine restaurant is opening down the street, and its owner asks you for advise on pricing. Should you suggest that the restaurant price an appetizer at $6.99 or $7, and why?