“Pricing Policies and Buyers” Please respond to the following:
You are a salesperson at a local building supply store. For the past five years, you have dealt with a contractor who constantly asks for discounts on all of his purchases. You have consistently given him discounts in part because this contractor is one of your stores biggest accounts year after year. You are informed that you can no longer provide these “special” discounts to this customer. Create a plan to keep this customer’s business.
- Choose one of the buyer types (value driven, price driven, brand driven, and convenience driven) and one of the reasons to create pricing policies (price objections, price increases, economic downturn, and promotional pricing) described in Chapter 5. Predict how the buyer type you chose would react if the reason for creating the pricing policy suddenly changed. Support your prediction with information from the textbook.
“Assessing Pricing Policies” Please respond to the following:
Assess at least two challenges of developing pricing policies and make at least two recommendations for improving the challenges identified. Provide specific examples to support your response.
- Assess the policies for promotional pricing and select an industry where this practice is commonplace. Hypothesize how this industry deemed the advantages of promotional pricing outweighed the disadvantages.
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