product pricing approaches and strategic profitability analysis, accounting homework help

Question description

2a) In an open market, companies must price their products based on the prices the market will bear. If a company overprices their merchandise, it is likely that no one will buy it. One market-based approach to pricing is the Target Pricing method discussed on pages 523-525 of your textbook.Please respond to all of the following prompts:For this discussion, you will be acting as a manager for a major manufacturing corporation. Please select one of the companies listed below for your scenario:Proctor & GambleGeneral MillsNikeGeneral MotorsAssume that the company you have selected is bringing a new product to market. You have been tasked with the responsibility of target pricing and target costing this new product. In your main response posting, you must do the following:State the company you have chosen and explain the “pretend” new product.Walk through the five-step process shown on pages 523-525. Explain how you’re going to address each step of the target pricing and target costing method based on the scenario you have chosen.Book web address      https://everest.vitalsource.com/#/user/signinPassword  Capital L        Lianov18

product pricing approaches and strategic profitability analysis, accounting homework help

Question description

2a) In an open market, companies must price their products based on the prices the market will bear. If a company overprices their merchandise, it is likely that no one will buy it. One market-based approach to pricing is the Target Pricing method discussed on pages 523-525 of your textbook.Please respond to all of the following prompts:For this discussion, you will be acting as a manager for a major manufacturing corporation. Please select one of the companies listed below for your scenario:Proctor & GambleGeneral MillsNikeGeneral MotorsAssume that the company you have selected is bringing a new product to market. You have been tasked with the responsibility of target pricing and target costing this new product. In your main response posting, you must do the following:State the company you have chosen and explain the “pretend” new product.Walk through the five-step process shown on pages 523-525. Explain how you’re going to address each step of the target pricing and target costing method based on the scenario you have chosen.Book web address      https://everest.vitalsource.com/#/user/signinPassword  Capital L        Lianov18

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