What are the different internal factors that affect a firm's pricing decisions?
What will be an ideal response?
Beyond customer value perceptions, costs, and competitor strategies, the company must consider several additional internal and external factors. Internal factors affecting pricing include the company's overall marketing strategy, objectives, and marketing mix, as well as other organizational considerations. Price is only one element of the company's broader marketing strategy. If the company has selected its target market and positioning carefully, then its marketing mix strategy, including price, will be fairly straightforward. Some companies position their products on price and then tailor other marketing mix decisions to the prices they want to charge. Other companies deemphasize price and use other marketing mix tools to create nonprice positions.
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Which of the following statements regarding the PCAOB is incorrect?
A. It has delegated all of its standard-setting authority to the AICPA. B. It is a public-sector, nonprofit corporation. C. It is overseen by the SEC. D. It sets standards for public company audits.
On news programs featuring “talking heads,” hosts and guests commonly use insults, speech that degrades, and pronouncements that encourage defensiveness or hostile reactions. This is an illustration of which of these?
A. Participants demonstrate the manner maxim. B. Participants demonstrate adherence to conversational rules. C. Participants demonstrate incivility. D. Participants demonstrate the quantity maxim.
Budgeted cash payments for inventory would appear on the:
A. capital budget and pro forma statement of cash flows. B. cash budget and pro forma balance sheet. C. inventory purchases budget and pro forma statement of cash flows. D. inventory purchases budget and the pro forma income statement.
Answer the following statements true (T) or false (F)
1. A critical incident is either positive or negative, while a moment of truth refers to a positive memorable experience that wows the guest. 2. Services tend to be both produced and consumed simultaneously. 3. True service interactions must be face-to-face. 4. Service quality is equal to the service value divided by all costs incurred by the guests. 5. Hospitality employees respond best to managerial strategies different from those to which manufacturing employees respond.