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There are four general pricing approaches:
1) mark-up pricing - is to have a fixed mark-up on the cost of the product to set the price, ex: retail stores
2) value-based pricing (demand-based pricing) is setting price based on buyers' perceptions of value independent of cost, ex: Louis Vuitton and Rolex (nobody ever questioned how much it costs to make a rolex cost, price is not in relation to cost. people base it on how many people have it, brand name)
3) value pricing: is offering the right combination of quality and good service at a fair price, ex: value meal menu
4) comepetition-based pricing: is to set price following that of the industry leader ex: breakfast cereal (ex: kellogs)
What else can I help you with?
Why are firms in an oligopoly less independent in setting prices than firms in monopolistic competition?
Firms in an oligopoly are less independent in setting prices because they are interdependent; the actions of one firm directly influence the others due to a small number of dominant players in the market. This leads firms to consider potential reactions from competitors when setting prices, often resulting in price stability or collusion. In contrast, firms in monopolistic competition operate in a larger market with many competitors, allowing them more freedom to set prices based on their unique product differentiation without as much concern for direct competitive responses.
What factors are responsible for setting prices in a free market system?
"Supply is relative to demand" explains the factors responsible for setting prices in a free market system.
The cartel that is concerned with the setting of policies and prices for the sale of oil is?
OPEC
How are the prices determined on eBay?
Prices are set by the seller and then are open to auction, with users setting bids for how much they are willing to spend.
What is a general continuous increase in prices?
I have no clue!
What are some general pricing approaches?
General pricing approaches include cost-plus pricing, where a fixed percentage is added to the cost of production; value-based pricing, which sets prices based on perceived value to the customer; competition-based pricing, which aligns prices with those of competitors; and dynamic pricing, where prices fluctuate based on demand and market conditions. Each approach has its advantages and is chosen based on market strategy, target audience, and overall business goals.
What factors are responisble for setting prices in a free-market eystem?
Supply relative to demand is primarily responsible for setting prices in a free market system.
What factors are responsible for setting prices in a free market system?
"Supply is relative to demand" explains the factors responsible for setting prices in a free market system.
What explains the factor responsible for setting prices in a free market system?
"Supply is relative to demand" explains the factors responsible for setting prices in a free market system.
The general willingness of consumers to purchase a product at various prices is .?
Demand is the general willingness of consumers to purchase a product at various prices.
The cartel that is concerned with the setting of policies and prices for the sale of oil is?
OPEC
How are the prices determined on eBay?
Prices are set by the seller and then are open to auction, with users setting bids for how much they are willing to spend.
How are prices determined on eBay?
Prices are set by the seller and then are open to auction, with users setting bids for how much they are willing to spend.
What is a general continuous increase in prices?
I have no clue!
Were can i find general prices for painting my house.?
You can find general prices for painting on the following site: http://www.generalpaint.com/home. They can guide you through the process.
Do flight prices typically decrease at the last minute?
Flight prices do not typically decrease at the last minute. In fact, they often increase as the departure date approaches. It is generally recommended to book flights in advance to secure the best prices.
Do flight prices typically drop last minute?
Flight prices do not typically drop last minute. In fact, they often increase as the departure date approaches. It is generally recommended to book flights in advance to secure the best prices.
