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Explain the External factors of pricing decisions
1) Demand: the market demand for a product or service obviously has big impact on pricing. Since demand is affected by factors like number and size of competitor by factor like number and size of competitors the prospective buyers their capacity and willingness to pay their preference etc. are taken into account while fixing the price.
2) Competition: competitive conditions effect the pricing decisions. Competition is a crucial factor in price determination. A firm can fix the price equal to or lower than of the competitors provided the quality of product in no case be lower than that of the competitors.
3) Buyers: the various consumers and business that buy a company's product or service may have an influence in the pricing decision. Their nature and behaviour for the purchase of a particular product brand or service etc. affect pricing when their number is large.
4) Government: price discretion is also affected by the price-control by the government through enactment of legislation when it is thought proper to arrest the inflationary trend in price of certain products. The price cannot be fixed higher as government keeps a close watch on pricing in the private sector.
Going rate or follow the crowd pricing:- In this method the firm price its products at the similar level as that of the competition. This method supposes that there will be no
Describe the impact of different types of standards on motivations, and specifically, the likely effect on motivation of adopting the labor standard recommended for Geeta & Company
What the traffic can bear pricing Pricing based on what the traffic can bear is not a sophisticated method. It is used by retail traders as well as by some manufacturing firms.
7 feed from control to planning It is realized these days more than even before that management control is primarily a human activity which should focus on how to help individu
I have 20pages preparing a system flowchart assignment
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Explain product cost Product costs are those costs which are associated with and directly identifiable with the product. In other words, which are assigned to the product are p
Transfer pricing sometimes entails using different transfer pricing systems: one for tax purposes, and one for internal decision making, even though maintaining two systems can be
What is cvp?
#queThe following information pertains to Fairways Driving Range, Inc.: The company is considering operating a new driving range facility in Sanford, FL. In order to do so, they
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