Answer the questions and complete here- free text or upload file is fine!
Carmex Video Case
- Which of the four approaches to setting a price does Carmex use for its products? Should one approach be used exclusively?
- Why do many Carmex product prices end in 9? What type of pricing is this called? What should happen to demand when this approach is used?
- Should cost be a factor in Carmex’s prices? What do you think is a reasonable markup for Carmex and for its retailers?
- Conduct an online search of lip balm products and compare the price of a Carmex product with three similar products from competitors. How do you think the competitors are setting their prices?