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Part: Is the Right Price a Fair Price?
Prices are often set to satisfy demand or to reflect the premium that consumers are willing to pay for a product or service. Some critics shudder, however, at the thought of $2 bottles of water, $150 running shoes, and $500 concert tickets.
Take a position: Prices should reflect the value that consumers are willing to pay versus prices should primarily just reflect the cost involved in making a product or service.
Choose the target market for your product, and describe your target market in detail. Create a new product that would appeal to your market.
Suppose that a firm attempts to achieve various types of pricing objectives for a certain brand in the target market. Given the profit equation as shown below, answer the following questions.Profit = Total Revenue - Total Cost
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When marketers discuss market segmentation the conversation soon turns to include the concept of target marketing. What is the meaning and purpose of "target marketing"? How and why is target marketing used? Present some examples of target marketing ..
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Using the Waters Bottling Company, continue to build the Marketing Plan Sections for the product you have selected/ invented/ created. Price Determination & Pricing Strategies
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