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Learning Goal: I’m working on a economics practice test / quiz and need support to help me learn.Seven years ago, you started a cross-town delivery service. You have two types of delivery services. You have a small parcel service for anything that is flat and measures less than 11×17. You have a package service using a 100 lb. capacity bike trailer for anything weighting up to 10 lbs. Initially, you charged the same price for each service, but since the beginning of the Covid- 19 pandemic you have seen an increased in the demand for your package service. The demand for the package services seems to be more inelastic than the demand for parcels. You are now wondering if you should charge different prices for the parcel and package service, or should you segment the market and charge two different prices?
The Parcels Market
Should the delivery service charge one price or will segmentation increase profits? Support your conclusion using the profits calculated in Questions 1,2,and 3. Determine the maximum profit for the combined market, i.e. 1 price for both services, and show the maximum profit if the market is
You operate a Caribbean destination resort. You currently offer plans for a cruise departing from the resort and plans for a casino stay. It is expected that in 2021 there will be some return to more normal travel. You will re-launch your advertising for 2021 announcing that customers will be able to do both tours for one price. Your marginal cost per customer across both tours isFrom experience you know that some traveler will never bundle. For example, you know that about 21% of your customers decline cruises because of sea sickness. At least 12% decline the casino trip saying they don’t believe in gambling. As a rough estimate you initially expect that approximately 33% of your customers will never bundle. Will mixed bundling increase profits? You must show that calculations that support your conclusion.
Complete the tables below and determine the best price strategy: price the services differently in each segment; or continue the one price policy? Combined Parcels & Packages Price Parcels and Packages TR MR TC MC MR-MC Profit 100 50 1600 90 120 2300 80 190 3000 70 260 3700 60 330 4400 50 400 5100 40 470 5800 30 540 6500 20 610 7200 10 680 7900 Price Parcels TR MR TC MC MR-MC Profit 100 0 1150 90 50 1650 80 100 2150 70 150 2650 60 200 3150 50 250 3650 40 300 4150 30 350 4650 20 400 5150 10 450 5650 3 ) The Packages Market Price Packages TR MR TC MC MR-MC Profit 100 50 450 90 70 650 80 90 850 70 110 1050 60 130 1250 50 150 1450 40 170 1650 30 190 1850 20 210 2050 10 230 2250 What is the best pricing strategy? Demonstrate the difference in the profit from each strategy. segmented into sub-markets for parcels and packages, charging 2 different prices. $4800. a)Here are the customer preferences. Determine how much your net profit will increase with a single bundle price compared to the maximum net profit you would make with a high price strategy. Destination Resort Packages Cruise Casino Customer 1 $7,000 $3,000 Customer 2 $2,000 $6,000
Requirements: Fully
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