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Rebates also allow companies to "price protect" certain product lines by being selective in which models or brands to be discounted. This allows retailers and manufacturers to move some product at lower cost while maintaining prices of successful models. A straight price reduction on some models would have a domino effect on all products in a line.
Pricing strategies and tactics vary from company to company, and also differ across countries, cultures, industries and over time, with the maturing of industries and markets and changes in wider economic conditions. [2] Pricing strategies determine the price companies set for their products. The price can be set to maximize profitability for ...
In February 2011, Acme United acquired Pac-Kit Safety Equipment Company, a manufacturer of first aid kits for the industrial, safety, transportation and marine markets. The company purchased the accounts receivable, inventory, equipment, brands, historical records, and photographs for $3.4 million. Pac-Kit's revenues in 2010 were approximately ...
The manufacturer thus becomes a de facto insurer against its defective products, with premiums built into the product's price. [67] Strict liability also seeks to diminish the impact of information asymmetry between manufacturers and consumers. Manufacturers have better knowledge of their own products' dangers than do consumers.
Tires are an example the products subject to extended producer responsibility in many industrialized countries. Extended producer responsibility (EPR) is a strategy to add all of the estimated environmental costs associated with a product throughout the product life cycle to the market price of that product, contemporarily mainly applied in the field of waste management. [1]
Resale price maintenance (RPM) or, occasionally, retail price maintenance is the practice whereby a manufacturer and its distributors agree that the distributors will sell the manufacturer's product at certain prices (resale price maintenance), at or above a price floor (minimum resale price maintenance) or at or below a price ceiling (maximum resale price maintenance).
Current good manufacturing practices (cGMP) are those conforming to the guidelines recommended by relevant agencies.Those agencies control the authorization and licensing of the manufacture and sale of food and beverages, [1] cosmetics, [2] pharmaceutical products, [3] dietary supplements, [4] and medical devices. [5]
The consumer thus buys the product at the cheapest price at which any manufacturer can produce any quantity. Price discrimination is a sign that the market is imperfect, the seller has some monopoly power, and that prices and seller profits are higher than they would be in a perfectly competitive market.