29 Jun Analyze the price-setting process and select the areas
Question
Analyze the price-setting process and select the areas of the price-setting process (i.e., define price window, set initial price, and communicate prices to market) that you believe to be the most important. Support your argument with evidence or examples.
Pick a product of your choice and then determine the best way to announce a new price or prices to the marketplace.
Assess the challenges of developing pricing over a product’s life cycle and suggest ways those challenges may be addressed. Provide specific examples to support your response.
Pick a product currently in the mature cycle of the product life cycle and one that with which you are familiar. Outline the product’s pricing strategy used during the first three phases of the product life cycle
Determine which area you believe provides the greatest challenge for organizations implementing new pricing strategies. Support your argument with specific examples.
Analyze the impact decision rights have on successfully implementing a pricing strategy into an organization.
From the e-Activity ( Go to theBusiness Forum Journal to read the article titled “A Tale of Three Villages” by Dr. David Chaudron. Be prepared to discuss. ), evaluate the lesson we learn from the three villages. Assess how this lesson could be helpful in implementing strategic pricing strategies into organizations. Provide specific examples drawing comparisons between “A Tale of Three Villages” and implementing pricing strategies into an organization.
Advise a small professional service company, CPA, attorney, consultancy, etc., who is in a start-up phase on pricing strategies. If there was only one piece of advice you could give, discuss what it would be.
Compare incremental costs and avoidable costs. Incorporate the impact each has on prices in your response. Provide specific examples to support your comparison.
Evaluate the best way for a small business (e.g., a dry cleaner, local café, housekeeping services) to handle a noticeable cost increase from a supplier, such as higher delivery costs due to an increase in fuel.
Determine the industries you believe most frequently use activity-based costing and explain why.
Analyze the “Peak Pricing: An Application of Incremental Costing” from Chapter 9 example and compare this example of peak and off-peak pricing to a local electricity provider and its pricing strategy. In your comparison, argue whether your local company is more or less profitable when implementing the type of pricing strategy it is using.
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