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- What are the prices you found for each item at each store (bot)? Use a chart similar to the one below to show this information. Comparison Pricing
The table below shows price variations in three different electronic commodities including laptops, digital cameras and data cables .In this table, similar electronic products are sold at different prices in three different retail stores representing a good picture for price comparison. Comparison Pricing.
|Store A||Store B||Store C|
- Identify and explain a minimum of two factors that you believe account for the price variations? – Comparison Pricing Pay to Unlock the Answer!
Shopping at several different locations is also time consuming and besides, location as demonstrated above is not the only factor determining price variations among different commodities in the a particular retail market. Comparison Pricing. For example, it would be uneconomic for a consumer to travel from the State of Arizona to Mississippi survey the price of laptops in the latter state. This is because it will automatically cost more to travel to Mississippi than it would cost if the consumer chooses to forego the laptop price differences between the two states (IMF, 2004). Comparison Pricing.
Dent, J.(2011). Distribution channels: Understanding and Managing Channels to
Market.London: Kogan Page Publishers. Comparison Pricing.
Docters, G.R. (2004).Winning the profit game: smarter pricing, smarter
branding.London: McGraw-Hill Professional. Comparison Pricing.
Hirshleifer, J. et al. (2005). Price theory and Applications: Decisions, markets, and information. Cambridge: Cambridge University Press.
International Monetary Fund. (2004).Consumer Price Index Manual: Theory and
Practice (EPub).New York: IMF. Comparison Pricing.