Asked by karan juneja on Sep 24, 2024
Verified
You are the owner of an art supply store,selling both paint and paintbrushes.In order to maximize total sales you should
A) Decrease the price on the paint only
B) Decrease the price on paintbrushes only
C) Decrease the price on both the paint and the paintbrushes
D) Increase the price on both the paint and the paintbrushes
Art Supply
Materials such as paints, brushes, canvases, and other items used for creating artwork.
Paintbrushes
Tools used for applying paint or other substances on surfaces, typically consisting of bristles fastened to a handle.
- Familiarize oneself with the impact that differences in pricing have on consumer demand and sales within the sphere of multiple products.
- Familiarize oneself with the implications of product complements and substitutes on pricing and marketing plans.
Verified Answer
VC
Vanessa c. Narcisoabout 11 hours ago
Final Answer :
C
Explanation :
Decreasing the price on both the paint and the paintbrushes can attract more customers to the store and increase overall sales. This strategy allows customers to feel like they are getting a good deal on both items, which can encourage them to purchase more. Decreasing the price on only one item may not have as significant of an impact on overall sales. Increasing the price on both items may result in a decrease in sales as customers may look for cheaper alternatives elsewhere.
Learning Objectives
- Familiarize oneself with the impact that differences in pricing have on consumer demand and sales within the sphere of multiple products.
- Familiarize oneself with the implications of product complements and substitutes on pricing and marketing plans.