Describe the value -in-use pricing approach with an example
What will be an ideal response?
In industrial markets, a variation of the demand-based pricing approach is called value-in-use pricing, where the
price represents the value the product is worth in its likely usage scenario. Here, higher-priced products can still be
a good value if they result in a lower total cost of operations for the organization. For example, synthetic engine
oils, such as those from Mobil 1, can justify higher prices than conventional petroleum-based oils because they can
reduce the frequency of engine oil changes, resulting in lower total overall costs.
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Patents are exclusive rights to produce and sell goods with one or more unique features
a. True b. False Indicate whether the statement is true or false
According to the international product life cycle
A. exporting begins in the second stage. B. exporting replaces direct investment in the second stage. C. innovation occurs in the U.S. and then goes to other nations. D. foreign-produced products compete in export markets in the third stage. E. foreign producers eliminate U.S. producers through continued product innovation.
Generally, government inspectors do nothave the right to enter business premises without a warrant
Indicate whether the statement is true or false
A scheduling process used to determine the approximate completion time for each job, the capacity required in each time period by beginning with the current date for those jobs that have known processing requirements, and loading the jobs forward in time is called ______.
a. current-date scheduling b. forward scheduling c. due-dates scheduling d. backward scheduling