Urgent Essay Help-Explain why the price of a good or service must be high enough to cover per unit costs, at least in the long term, but cannot exceed its value as perceived by the customer.
- Explain why the price of a good or service must be high enough to cover per unit costs, at least in the long term, but cannot exceed its value as perceived by the customer.
- A key concept in setting a price is the notion of perceived value. An essential purpose of the price set by a marketing manager should be to enable the firm to capture a fair share of the value of the product as perceived by the intended customer. Do you agree or disagree with these statements? Explain your position.
- Choose an airline and decide if they have strong or weak perceived value. Defend your answer.
- While speed to market is important in today’s fast-paced business climate, bringing the right products to market and keeping them current are far more important than seeking first-mover advantage for a product that customers don’t want. Explain how an airline marketing manager is challenged to keep their product(s) current.
- By definition, a product is anything that satisfies a want or need through use, consumption, or acquisition. Using the airline industry as your frame of reference, define the product that is being offered to consumers.