A Determining the final price QUESTION Shelly is undergoing the six step

# A determining the final price question shelly is

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A: Determining the final price
QUESTION:Shelly is undergoing the six-step process for establishing prices for a newly launched product. She has just finished assessing the target market's evaluationof possible prices. What is Shelly's next step?A: Evaluation of competitors pricingQUESTION:What happens if revenue and cost remain constant?A: Prices could be set for maximum profitsQUESTION:Chantel, a resident of Denver, Colorado, decided to open up her own fine jewelry store. To do so, she used her life savings and a loan from the bank. Chantel wasable to open up a store with sufficient inventory. She markets the jewelry as the "finest jewelry in the West." The most popular item Chantel sells is a rose gold bracelet that sells for \$550. During one month, Chantel's fixed costs are \$6,000. Her variable costs average about \$400.Refer to Scenario 12.1. How many rose gold bracelets would Chantel have to sell to break even?A: 40QUESTION: Chantel, a resident of Denver, Colorado, decided to open up her own fine jewelry store. To do so, she used her life savings and a loan from the bank. Chantel was able to open up a store with sufficient inventory. She markets the jewelry as the "finest jewelry in the West." The most popular item Chantel sells is a rose gold bracelet that sells for \$550. During one month, Chantel's fixed costs are \$6,000. Her variable costs average about \$400.Refer to Scenario 12.1. Chantel decided to raise the price of her rose gold bracelets even higher to \$750. To her surprise, though, demand went down. Based on this information, the rose gold bracelets are most likely a Prestige productQUESTION:A few months before, a major B2B supplier raised prices of its products 10 percent to cover changes in market conditions. He was surprised to find how the orders from his normal customers plummeted. His normal order was \$1,100. After the price increase, the average order dropped by 25 percent. He became concerned that customers might look elsewhere. For this reason, he decided to start offering discounts. When one of his loyal customers, David, purchases \$950 worth of product for his firm, the supplier gives David the terms "4/20 net 30." He wants to maintain his relationship with David and would ideally like to receive payment in less than a month.Refer to Scenario 12.5. Consider how the average order amount changed when prices were raised \$75. The elasticity of demand is ___________. With this in mind, the product can best be described as ___________.A: 2.5: elasticQUESTION:Mike is pricing a new couch. This couch is higher-quality and expected tolast longer than your traditional couch. Mike prices the couch high because he knows that consumers anticipate paying more for longer-lasting products. What stage of the pricing process is Mike currently at?A:assessing the target market's evaluation of priceQUESTION:When Chantal raised the price of her rose gold bracelets by \$75 to cover unexpected expenses, she was surprised to see that demand appeared to increase. Shewas making more sales at a higher price. This means the rose gold bracelets are
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