MGT 103 Bates Final | Questions and Correct Solutions Latest Update

MGT 103 Bates Final | Questions and Correct Solutions Latest Update __% of ticket sales are now Online - Answer - 50 Price - Answer - the money or other considerations (think: bartering) exchanged for the ownership or use of a product or service Barter - Answer - exchanging products and services for other products and services Calculating the Final Price (Formula) - Answer - List Price - (Incentives + allowances) + Extra Fees College Student ex. Tution - scholarships + books/housing Value (Formula) - Answer - Percieved Benefits / Price Value Pricing (strategy) - Answer - Lowering price while keeping benefits the same or Increasing benefits while keeping price the same Price to Value Relationship - Answer - When we pay a higher price, we tend to perceive a higher quality doesn't mean that people will always be willing to pay a higher price though. ex) pizza sales example Profit (Formula) - Answer - Total Revenue - Total Cost broken down further: