Discussion 19593517

and-oriented, cost-oriented

In Chapter 14, four approaches were presented to establish an approximate price Level.  They include demand-oriented, cost-oriented, profit-oriented, and competition-oriented approaches. 

For this discussion board, you must complete the following steps: 

1. Choose two (2) approaches (e.g. Demand-, and Cost-oriented approaches)

2. Choose one method  for each approach (e.g. I chose odd-even pricing for Demand-oriented approach and  standard markup cost method for Cost-Oriented approach)

3. Use examples to illustrate these two methods that you’ve chosen to do.

 

In my case, for Odd-even pricing, my example is a nice sit-down restaurant that uses even pricing for their menu to show the high-end image of its restaurant, whereas price-oriented stores typically adopt odd-pricing, such as Walmart.  Note all whole number pricing on the menu.  

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