ADM 2320 Lecture Notes - Lecture 17: Price Skimming, Hot Chocolate, Premium Pricing

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Manufacturers, wholesalers, & retailers can have different objectives on pricing strategies. Manufactures must protect against grey market transactions: grey market: ppl are not authorized dealer (been sanctioned & approved by the actual company) If you are an authorized dealer, you have to sign an agreement. Issue = (cid:396)isk of (cid:271)u(cid:455)e(cid:396) is the(cid:396)e a(cid:396)e (cid:374)o (cid:449)a(cid:396)(cid:396)a(cid:374)ties (cid:271)/(cid:272) (cid:455)ou did(cid:374)"t (cid:271)u(cid:455) it f(cid:396)o(cid:373) a(cid:374) autho(cid:396)ized deale(cid:396) Answer: purchase of grey market textbooks hurt publishers & authors; these books do not help recover costs of all ancillary packages that are provided to instructors. Answers: internet shopping has provided people w/ more info. so they have become more sensitive to prices, alternative product options & retailers. Consumers can quickly find & compare prices online & take part in online auctions. Economic factors firms & consumers should constantly monitor economic environment b/c economic conditions have a direct impact on pricing. Increasing status consciousness buying high brand name goods. Precise shoppers ex. buying dishwasher soap.

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