What are the three practical aspects of pricing that a small firm must consider?
What will be an ideal response?
There are three practical aspects of pricing that a small firm must consider. First, regardless of the desirability of the product, the price must be such that customers are willing-and able-to pay it. Second, it must set the price to maintain or expand its market share and/or profit. If the new product is successful, competitors will introduce either a better product or a cheaper one. Third, if it wants to make a profit on the new product, the price must be sufficiently greater than cost to cover development, introduction, and operating costs.
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Why is constructing a data warehouse more difficult for in-store transactions than it is for online shopping?
A. Availability of store assortments is not always similar to website assortments. B. Customer returns to the store confound the data. C. Store purchases can be made with cash or third-party credit cards. D. Since customers are more likely to buy gifts for others in stores than online, it defeats the purpose of understanding the end-user. E. Store customers are not interested in sharing personal information.
Which of the following takes place when choosing among alternatives that are not clear cut, but that are ethical and valid?
A) Ethical lapse B) Stealth marketing C) Transparency D) Distortion E) Ethical dilemma
Which of the following best describes ethics?
A. An academic discipline that originated in the early 1900s B. A descriptive approach such as psychology and sociology C. A descriptive approach that provides an account of how and why people do act the way they do D. The study of how human beings should properly live their lives
President Franklin D. Roosevelt initiated the creation of many new agencies as part of
his _____ efforts to revive the economy and to correct other social problems the nation was experiencing. Fill in the blanks with correct word