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Question 111 - CBDA discussion

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A fashion retailer is developing a new line of luxury handbags and would like to evaluate their target market and pricing. After an extensive evaluation based on product features, their target market, and pricing of competitor products, the analytics team has come up with a pricing proposal. On presenting the results, the management team is of the opinion that additional analysis was required before making a decision. What type of additional analysis will help the management team make a decision on pricing?

A.
How diverse are the competitors- product portfolios?
Answers
A.
How diverse are the competitors- product portfolios?
B.
How can we broaden the target market?
Answers
B.
How can we broaden the target market?
C.
How can costs be reduced to improve the profit margin?
Answers
C.
How can costs be reduced to improve the profit margin?
D.
What is the breakeven point before profits are generated?
Answers
D.
What is the breakeven point before profits are generated?
Suggested answer: D

Explanation:

Explanation: According to the Introduction to Business Data Analytics: A Practitioner View, the breakeven point is the point at which the total revenue equals the total cost of a product or service. The breakeven point indicates the minimum sales volume or price required to cover the fixed and variable costs and to start making a profit. The breakeven point can help the management team make a decision on pricing by showing them how sensitive the profitability is to the price changes and how much margin of safety they have. The breakeven point can also help the management team evaluate the feasibility and risk of the pricing proposal and compare it with alternative scenarios.

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asked 18/09/2024
Linda Müller
38 questions
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