1. All the 4 approaches are used by Carmex Demand oriented approach: Price as pe

Question

1. All the 4 approaches are used by Carmex
Demand oriented approach: Price as per consumer preference
Profit oriented: Pricing of high end products to gain profits
Cost oriented: Production cost is considered
Competition oriented: The prices are kept considering the competition

Several approaches should be considered since these approaches overlap.

2. This is odd even pricing approach. By ending the product price with 9 , they make the customer subconsciously view the prices as low. It is manipulating the perceived value as viewed by the customer. Thus increasing the product demand.

3.It is very essential for an organisation to consider the production and all related costs in their prices. To make profits, it is critical that all operational costs are covered. The objective is to be profitable. Hence, the markups are justified.

4. The high adoption rate and feedback of consumers is the advantage of chossing this simplisitc mode. Huge volumes of measurable data would be provided easily.

Explanation / Answer

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