How does marketing research impact pricing decisions?
What will be an ideal response?
Pricing decisions involve pricing new products, establishing price levels in test marketing, and modifying prices for existing products. Marketing research provides answers to questions such as the following:
1. How large is the demand potential within the target market at various price levels?
2. What are the sales forecasts at various price levels?
3. How sensitive is demand to changes in price levels?
4. Are there identifiable segments that have different price sensitivities?
5. Are there opportunities to offer different price lines for different target markets?
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The Automotive Department of K-Seers Corp shows net sales of $1,320,500 for tires and $759,800 for other goods. It has been determined that the tires cost $834,000 and the other goods cost $372,100 . What is the gross profit for the Automotive Department?
a. $2,080,300; b. $874,200; c. $387,700; d. $1,206,100; e. $486,500
A written customer purchase order is required to trigger the sales order system
Indicate whether the statement is true or false
According to Michael Scriven (1999), conducting an outcome-based summative evaluation of a program without knowing how and why the program works is called a ______.
a. black box evaluation b. gray box evaluation c. clear box evaluation
Credit terms of 2/10, n/30 imply that the seller offers the purchaser a 2% cash discount if the amount is paid within 10 days of the invoice date. Otherwise, the full amount is due in 30 days.
Answer the following statement true (T) or false (F)