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Value Pricing in Food Industry - Research Paper Example

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The objective of the following paper is to outline the process of forming pricing policies based on consumer's demand in food the industry. The writer analyzes various factors, such as government export and import regulations, supply and manufacturing costs, etc…
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Value Pricing in Food Industry
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Download file to see previous pages The economic environment has a tremendous impact, as the most crucial factor in determining a market’s potential, is undoubtedly income. The world economy has undergone a significant change in the recent past. The competitive front has taken a new shape, with companies facing global competition in the place of local competition. The major factors, which influence the economic environment, are the GDP and GNP, the disposable income, inflation rate, the cost of energy and its availability, infrastructure capabilities, etc.
Generally, there are three categories of economies operating in the world; capitalist, socialist and mixed economies (Williams, 2006). This categorization if influenced by the resource allocation in the system. The resource allocation is done in three ways – market allocation, in which the customer is given maximum preference and the goods and services are produced according to the choice of the customers. In command allocation method, the government plays a prominent role in deciding what and how much is to be produced while in the mixed economy, resources are allocated on the basis of a combination of both market allocation and command allocation methods. World markets can also be divided according to the GNP per capita by segmenting them into high-income countries, upper-middle income countries, lower-middle income countries, and low-income countries.
Inflation is one more factor that has been responsible for the increase of global food prices. When aggregate demand is higher than the aggregate supply the price level increases generally. Demand-pull factors create inflation. The major factors under this category are an increase in money supply, the government budget deficit, an increase in export earnings etc.
Cost-push factors would also have been responsible for inflation. When the cost of production factors increases, the producers or manufacturers that supply the food reduce the supply.  ...Download file to see next pagesRead More
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