MAR 3803 Florida State College Psychological Pricing Questions I am required to answer questions 7& 8 as they are related to marketing . Don’t forget to us

MAR 3803 Florida State College Psychological Pricing Questions I am required to answer questions 7& 8 as they are related to marketing . Don’t forget to use scholarly references and feel free to contact me 8:56 1
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< Questions for Module... B Competitive effect objective Market share objective Customer satisfaction objective 3. Using the following information, estimate Rogue Outdoor's annual and monthly demand for adult hiking shoes: Number of 18-65 year old adults in market: 53,600 Total percentage of adults who buy hiking shoes each year 10% Rogue Outdoor share of total hiker market = 25% Known number of avid hikers who buy 2 new pair per year: 600 Rogue Outdoor share of avid hikers = 40% Known number of occasional hikers who buy 1 new pair per year: 2,650 Rogue Outdoor share of occasional hikers = 30% . . 4. Calculate Rogue Outdoor's break-even point in units and dollars for selling hiking shoes if: Average per unit variable cost (Wholesale price Rogue pays for hiking shoes): $50 . Total fixed costs assigned to hiking shoes: $36,000 Average per unit revenue (price) of hiking shoes: $100 5. Calculate the maximum wholesale price that the Rogue Outdoor can afford in order to earn a 30% profit margin on the sale of its hiking shoes if: $100 MSRP Using the variable and fixed costs in the previous problem (Note: the simple formula in the textbook fails to take into account the fixed costs per unit) 6. Explain: Cost-plus pricing Target costing Yield management 7. Explain these psychological aspects of pricing: Odd-even pricing Internal reference price Price lining Prestige pricing 8. What is dynamic pricing? Why does the Internet encourage the use of dynamic pricing? 9. Compare and contrast prices calculated from the selling price as opposed to a price calculated from the cost to the retailer (See pp. 344-45 of your textbook). 10. Determine the unit cost and then the markup price for hiking shoes using the following information: a. Variable cost per unit: $50 b. Fixed costs: $36,000 c. Expected unit sales: 1,800,000 units d. Markup (profit margin) 30% 11. Calculate the variable costs of hand-made rocking chairs using the following information: a. Fixed costs: $300,000 b. Expected unit sales: 600 rocking chairs c. Retail price (including markup): $750 d. Markup (profit margin) 20% := Dashboard Calendar To Do Notifications Inbox Purchase answer to see full attachment

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