Marketing Mini Assigment

Marketing Mini Assigment - 1 Why is it important to study...

Info icon This preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
1. Why is it important to study price unfairness? (2-3 sentences) -Price unfairness is important because if the consumer perceives that prices are unfair, it will negatively affect the profitability of the company. Consumers need to feel that the product is a good value; otherwise they will eventually move their business to another firm. 2. List three general situations in which consumers tend to perceive a price as unfair. Give a specific example about each situation (1 paragraph). -In contextual price unfairness, consumers feel that they’re ripped off in scenarios where they’re charged higher prices because of the scenario. An example of this is going to a baseball game where food is extremely expensive. Consumers also feel price unfairness when purchasing necessity products like groceries, which they are forced to buy to survive. Finally, consumers can find situations where prices are unfair when they do not completely understand the serviced and can’t determine the input costs of the service provided. An example of this could be an addition on a house where the consumer does not know
Image of page 1
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern