Marketing

Please answer the following questions using real world companies and examples. Please add links and as references.

Question 1

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Prices are often set to satisfy demand or to reflect the premium that consumers are willing to pay for a product or service.

Do you believe prices should reflect the value consumers are willing to pay? Alternatively, do you believe prices should reflect only the cost of making a product or delivering a service?Please use a real world example to support your position.

Question 2

Does It Matter Where You Sell?

Read the following articles:

Link: https://knowledge.wharton.upenn.edu/article/can-macys-save/
PDF: Can Macy’s Save Itself? – Knowledge@Wharton.pdf

 

Link: https://knowledge.wharton.upenn.edu/article/e-commerce-consumers-can-retailers-meet-rising-expectations/

PDF: E-commerce and Consumers: Can Retailers Meet Rising Demands? – Knowledge@Wharton.pdf

Some marketers feel that the image of the particular channel in which they sell their products does not matter—all that matters is that the right customers shop there and the product is displayed in the right way. Others maintain that channel images—such as a retail store—can be critical and must be consistent with the image of the product. Please explain why channel images must be consistent with the brand image. In your discussion, use BOTH the text and both of the articles to support your position. Additionally, in light of the global pandemic, do you believe Macy’s will be able to save itself? Support your view with the text, articles, and outside sources.

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