Author Question: Ritz-Carlton is known for its customer service-so much so that it allows employees to spend 2,000 to ... (Read 73 times)

OSWALD · **on:** Jun 29, 2018

Ritz-Carlton is known for its customer service-so much so that it allows employees to spend 2,000 to meet customer needs per incident. Customer service at the Ritz-Carlton is an example of a(n) _________________.
A) core product
B) symbolic feature
C) experiential feature
D) personalized product
E) supplemental feature

Question 2

Under what conditions would a marketer most likely use a price leader strategy?

kishoreddi · **Reply #1 on:** Jun 29, 2018

Answer to Question 1

E

Answer to Question 2

Sometimes a firm prices a few products below the usual markup, near cost, or below cost, which results in what are known as price leaders. This type of pricing is used most often in supermarkets and restaurants to attract customers by offering them especially low prices on a few items, with the expectation that they will purchase other items as well. Management expects that sales of regularly-priced products will more than offset the reduced revenues from the price leaders.