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Value is a combination of price and __________.a. qualityb. functionalityc. elasticityd. aestheticse. consistencyis unique to price in the marketing mixSam Walton used what type of pricing strategy?
Daniel always has to purchase popcorn whenever he goes to the movies. Popcorn is marked up 1,275 percent. However, Daniel is willing to pay this price. For Daniel theis impacting his view of price.If a retailer purchases a can of soup for 60 cents and sells it for 99 cents, what is the markup as the percentage of cost? The percentage of selling price?Scenario 20.3Anthony works at a firm that wants to develop a new pricing strategy for one of its products. The company has decided that its main objective for this product is to increase the product’s sales in relation to industry sales. Anthony has obtained a list of prices that tell him how much similar products are being sold for. Anthony is particularly interested in the industry’s top competitor because it has so much market share. After determining the price of its major competitor, Anthony decided to undercut their price by several dollars. He believes putting a sign in their stores that features his company’s discounted price next to the price of their major competitor for the same product will show consumers that Anthony’s company offers them a much better deal. However, he knows that he has to be careful not to misrepresent the competitor’s price in the process.Refer to Scenario 20.3. Anthony's firm has adopted a ______________ pricing objective.