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Stevens Outdoor Furniture has just introduced a new line of products in the southeastern United States. Owner James Bilby discovered the new line, which includes outdoor furniture and other lawn items, on a recent vacation to California. The market is extremely promising because none of his main competitors stocks this type of furniture. He’s concerned, however, about pricing because shipping costs will drive his prices higher than those charged by stores closer to the manufacturer’s West Coast factory. Initial promotion and advertising costs, as well as warehousing expenses, are also on Bilby’s mind. He’s called a teleconference with his ten store managers to develop a pricing strategy that must take effect immediately.
-Demand-based pricing would never work in this situation.
Kansas-Nebraska Act
Legislation passed in 1854 that created the territories of Kansas and Nebraska, opening new lands for settlement and allowing the settlers to decide whether to allow slavery, leading to a violent period known as "Bleeding Kansas."
Republican Party
One of the two major contemporary political parties in the United States, traditionally advocating for conservatism, free market policies, and limited government intervention.
Slavery Expansion
The 19th-century movement and political conflict in the United States over whether new territories should permit slavery, leading up to the Civil War.
James Buchanan
The 15th President of the United States (1857-1861), whose presidency is often criticized for his inability to prevent the country from descending into the Civil War.
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