Please help me to answer the following questions:
* Why would Whirlpool allow its dealers to set the retail price for its appliances?
* What factors would dealers utilize to set the retail price for appliances?
* Why might Whirlpool implement competitive pricing over penetration pricing or price skimming?
* Discuss how competition has affected pricing in the appliance market.
* How has this competition benefited consumers?
Whirlpool allows its' dealers to set the retail price for its' appliances so that the dealers have more control and are able to sell more. Whirlpool assumes that the dealers are more in touch with their local marketplace and better able to determine the best pricing strategy based on the competition, product availability, and economic conditions.
Whirlpool would more likely implement competitive pricing over ...
This solution discusses why Whirlpool allows its dealers to set the retail price for its' appliances; what factors would dealers utilize to set retail prices; why Whirlpool might choose to implement competitive pricing over penetration pricing or price skimming; how the competition affects pricing in the appliance market, and how this competition benefits consumers. It includes examples.