Explain the factors involved in setting international pricing
What will be an ideal response?
In some cases, a company can set a uniform worldwide price. However, most companies adjust their prices to reflect local market conditions and cost considerations. A firm must consider economic conditions, competitive situations, laws and regulations, and development of the wholesale and retail system. Consumer perceptions and preferences also may vary from country to country, calling for different prices. The company may have different marketing objectives in various world markets. Costs play an important role in setting international prices. Management must prepare for price escalation that may result from the differences in selling strategies or market conditions. The additional costs of operations, product modifications, shipping and insurance, import tariffs and taxes, exchange-rate fluctuations, and physical distribution must all be factored into the "price."
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At the end of its first month of operations, JMP Consulting reported net income of $25,900. They also had account balances of: Cash, $18,600; Office Supplies, $2150; and Accounts Receivable, $10,300. Stockholders' total investments for this first month was $5150. There were no dividends in the first month.Calculate the amount of total stockholders' equity reported on the balance sheet at month-end.
A. $20,750 B. $31,050 C. $5150 D. $7300 E. $25,900
One approach for responding when the other side is being difficult is to disarm them, and this disarmament strategy includes which of the following?
A. active listening B. asking open-ended, problem-solving questions C. creating breathing room D. reframing the other party's tactics
One of the accountant's most important roles is to serve as an independent evaluator of the financial statements issued by management to investors and creditors
a. True b. False Indicate whether the statement is true or false
Break-even analysis is useful because it allows managers to
A. determine the relationship between price and quantity demanded. B. estimate the quantity they will need to sell at a given price to break even. C. analyze the different elements contributing to their variable costs. D. reposition products based on their break-even positioning revenue. E. quantify the relationship between price elasticity and product elasticity.