status-quo pricing

Examples of status-quo pricing in the following topics:

• Status Quo

  • A status quo pricing objective is one that maintains current price levels or meets the price levels of the competition.
  • A status quo pricing objective is one that maintains current price levels or meets the price levels of the competition.
  • While status quo pricing ensures competition, it's still ultimately a better strategy than engaging in a price war.
  • An often-cited example of status quo pricing is the soft drink industry.
  • Describe the idea of status quo pricing and the ideal conditions for one

• Status-Quo Pricing of Existing Products

  • Status quo pricing is the practice of maintaining current price levels that other firms are charging.
  • Price-Quality Effect: Buyers are less sensitive to price the more higher prices signal higher quality.
  • Status-quo pricing, also known as competition pricing, involves maintaining existing prices (status quo) or basing prices on the prices of competitor firms .
  • Status-quo pricing, also known as competition pricing, involves maintaining existing prices or basing prices on what other firms are charging.
  • Compare Nagle and Holden's nine laws of price sensitivity with status-quo pricing

• Competition-Based Pricing

  • Competitive-based pricing occurs when a company sets a price for its good based on what competitors are selling a similar product for.
  • Competitive-based pricing, or market-oriented pricing, involves setting a price based upon analysis and research compiled from the target market .
  • For instance, if the competitors are pricing their products at a lower price, then it's up to them to either price their goods at a higher or lower price, all depending on what the company wants to achieve.
  • One advantage of competitive-based pricing is that it avoids price competition that can damage the company.
  • Status-quo pricing, also known as competition pricing, involves maintaining existing prices or basing prices on what other firms are charging.

• The Prisoner's Dilemma and Oligopoly

  • However, the collective outcome would be improved if firms cooperated, and were thus able to maintain low production, high prices, and monopoly profits.
  • Considering the similarity of their products in the soft drink industry (i.e. varying types of soda), any price deviation on part of one competitor is seen as an act of non-conformity or betrayal of an established status quo.
  • If Coca-Cola reduces their prices, Pepsi may follow to ensure they do not lose market share.
  • Which is to say that, due to the initial price reduction by Coca-Cola (betrayal of status quo), both companies likely see reduced profit margins.
  • On the other hand, Pepsi could uphold the price point despite Coca-Cola's deviation, sacrificing market share to Coca-Cola but maintaining the established price point.

• Defining Inflation

  • When the general price level rises, each unit of currency buys fewer goods and services.
  • When looking at individual goods, price changes may result from changes in consumer preferences, changes in the price of inputs, changes in the price of substitute or complement goods, or many other factors.
  • Specifically, the money supply has a direct, proportional relationship with the price level, so if, for example, the currency in circulation increased, there would be a proportional increase in the price of goods.
  • Initially we might feel twice as rich as we were before, but prices would quickly rise to catch up to the new status quo.
  • Thus, increasing the supply of money increases the price levels.

• Understanding the Academic Context of Your Topic

  • "Status quo" refers to the existing and accepted body of academic research and discourse on a given topic.
  • Academic papers rely on the status quo to inform and support the writer's argument.
  • Identifying the status quo in the introduction serves several purposes.
  • Examining the status quo is a good way of figuring out where to situate your specific insight on a topic.
  • Explain the importance of including a discussion of the status quo in a paper

• Destabilizing the Status Quo

  • Knowing the status quo will be very helpful when you are trying to explain your argument.
  • There are several common strategies for destabilizing the status quo.
  • When choosing how you want to destabilize the status quo, remember to be specific.
  • You will need to use the status quo to generate consequences for readers, and the way to do so is to convince them that there is a problem in the status quo.
  • Describe the value of destabilization in relation to writing about the status quo

• Religion and Social Control

  • Marx viewed religion as a tool of social control used by the bourgeoisie to keep the proletariat content with an unequal status quo.
  • From a Marxist perspective, these expectations become part of religion's ability to control society and maintain the status quo.
  • According to Marx, in a capitalist society, religion plays a critical role in maintaining an unequal status quo, in which certain groups of people have radically more resources and power than other groups of people.
  • He believed that it was a tool of social control used to maintain an unequal status quo, and that it should be abolished.

• Diversity Bias

  • Examples include the false-consensus bias, status quo bias, in-group favoritism, and stereotyping.
  • A cognitive bias in which the current baseline (or status quo) is taken as a reference point, and any change from that baseline is perceived as a loss.
  • Status quo bias should be distinguished from a rational preference for the status quo, as when the current state of affairs is objectively superior to the available alternatives, or when imperfect information is a significant problem.
  • A large body of evidence, however, shows that an irrational preference for the status quo—a status quo bias—frequently has a negative affect on decision-making.

• Transactional Versus Transformational Leaders

  • Transactional leaders are concerned about the status quo, while transformational leaders are more change-oriented.
  • They are concerned about the status quo and day-to-day progress toward goals.
  • Especially effective under strict time and resource constraints and in highly-specified projects, this approach adheres to the status quo and employs a form of management that pays close attention to how employees perform their tasks.