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Pricing Strategies for Marketer Scenarios

Mix and match the description of the pricing strategy with the marketer scenario provided. Matching:

1: Jim's Auto Repair has been in business for 35 years. Known for his "no nonsense" approach and honest recommendations, he has developed a loyal following of customers who KNOW that when Jim says "you need a new alternator," the recommendation is solid and the price is reasonable for the attention and service provided

2: Sam does landscaping. He does great work and is well-known within the Town of Elmville for quality landscaping. When he determines his overall costs, he adds 35 percent to those costs to determine what he will charge the customer.

3: William's Hardware Store is THE place to go for expert opinion on anything relative to home repairs, etc. Because no other hardware store is within six miles, they can charge a higher price for their products. When they occassionally have a sale on a product, the price is below that of even the big retailers, e.g., a Wal-Mart.

4: Were Microsoft to announce a new absolutely hack-proof operating system called SECURE, it would charge a premium price, as it has no competition.

5: Sony has just introduced the first wristwatch that is also a cell phone. Sleek and attractive, it also contains a stylus that allows you to send email. To gain market share quickly, Sony decides to price this product to be very attractive to its target market.

Perceived Value Pricing
High-Low Pricing
Markup Pricing
Market Skimming Pricing
Marketing Penetration Pricing

Solution Preview

Mix and match the description of the pricing strategy with the marketer scenario provided. Matching:

1: Jim's Auto Repair has been in business for 35 years. Known for his "no nonsense" approach and honest recommendations, he has developed a loyal following of customers who KNOW that when Jim says "you need a new alternator," the recommendation is solid and the price is reasonable for the attention and service provided
-Perceived value ...

Solution Summary

Response discusses Pricing Strategies for Marketer Scenarios

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