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Pricing Essay Topics & Paper Examples

E & A Stationery Shop

1. – Executive Summary 2. – Strategy, Aims & Objectives Objectives have to be created according to the SMART acronym. Specific: The business has the objective to increase its sales by November since that is when the Term 1 starts for universities. Measurable: From the start of the business (July) increase the sales by three times till November Achievable: The objective of the business (to increase sales till November) is achievable, since it is the time period when the Term 1 starts for both universities, and it would be essential for them to buy stationery. Realistic: The resources the company owns would allow the company to actually reach their objective of increasing it’s sales. Time-specific: As said before, the business…

Marketing Mixmarketing Mix

1. Marketing Research : A new product strategy will ultimately need to be tested through focus groups, phone surveys and beta tests. Focus groups are sessions where company managers observe consumers through a one-way mirror. A moderator or interviewer will ask the consumers questions related to the company’s product concept, including their likes, dislikes and suggestions for the product. This information is usually evaluated later to help tweak the product concept. After focus groups, companies use phone surveys to obtain a more reliable sample about the market’s reaction to the product. 2. Product Positioning: Product positioning is a “best practice” strategy used for both new and existing products. Small companies typically use a grid when developing a product positioning matrix….

Pharmasim Case Summary

Executive Summary As the brand manager for Allround cold medicine, there were many decisions regarding product formulation, strategy, line extensions and product launches over the company’s last 10 periods. The brand was focused on remaining a profitable, mature product family within the cold medicine category, but also maintaining a premium brand image. ALAN’S INITIAL STRATEGY. Please add, it should only be around 1 paragraph. After a period of declining sales for Allround, we increased the advertising budget to be consistent with our competitor’s budget. We decided to be very consistent with our strategy over the ten periods; however, in hindsight we should have implemented a more dynamic strategy that factored in the changing preferences of our target segments, cannibalization from…

Salvation Army

1. Background and mission of The Salvation Army: The Singapore’s Salvation Army, a Christian non-profit organization, was established during 1935. It was first founded by William Booth; a London minister in 1865 and later spread itself around the world. Salvation Army main motive is to help the mankind without racism. Its mission is “to preach the gospel of Jesus Christ and to meet human needs in His name without discrimination” with a slogan of “Heart to god, hand to men”. Red Shield Industries Family Thrift Store: They launched the Red shield Industries (RSI) Family Thrift Store, a social enterprise in 1996, reaching out to many different people in the society that are struggling to make ends meet. RSI helps to…

Deciding on the Marketing Program

International companies or marketers may choose between two alternative approaches in developing its marketing strategies or marketing mix. These two approaches are: a. Global Marketing Strategy – defines a standard marketing mix and implements it with minimal modifications in all of its domestic and foreign markets. This standard approach saves money because it allows large-scale production runs and reinforces the brand’s image. It can foster collaborative innovation. Through global marketing strategy, Global firms can effectively market some goods and services to segments in many nations that share cultures and languages. This approach works best for products with strong, universal appeal such as McDonalds and for luxury products that target upscale consumers everywhere. b. Multidomestic Marketing Strategy- assumes the differences between…

IIFT Part Time MBA

1. Before introducing its inkjet printers, did HP have to estimate the demand curve for them? Why or why not? Yes, because by estimating demand HP would have an insight whether their upcoming products were consumable in the market or not. It will also give highlight the shortcomings of existing products in the entire printer family. The presence of competition will be a very important factor for the launch of their inkjet printers as they would have a competitive edge in the market. 2. When studying Epson before going after the Japanese-dominated dot matrix market, did HP try to determine which factors would have an important influence on the demand curve for its product? If so, what factors seemed to…

The Relationship Between Exchange Rates

The relationship between exchange rates, interest rates • In this lecture we will learn how exchange rates accommodate equilibrium in financial markets. For this purpose we examine the relationship between interest rates and exchange rates. Interest rates are the return to holding interest-bearing financial assets. In the previous lecture we have pointed out that as being a financial asset exchange rates tend to adjust more quickly to new information that goods prices. Like exchange rates, interest rates are also the prices of financial assets and hence adjust quickly to new information. • The profit-seeking arbitrage activity will bring about an interest parity relationship between interest rates of two countries and exchange rate between these countries. • A U.S. investor deciding…

Catering and Marketing

To perform successfully, a catering service must be market-oriented and should apply the marketing concept, which is derived from the assumption that a product should be capable of meeting the needs of consumers, foremost, through its quality. To fully meet the needs and wants of costumers on the one hand, and to accomplish its business goals on the other hand, a catering business needs to combine the elements of the marketing mix in order to be as successful as possible in selling its product on the market. Guest satisfaction must be ensured. I. INTRODUCTION “Marketing is not only much broader than selling; it is not a specialized activity at all. It encompasses the entire business. It is the whole business…

Critical Analysis on Philippine Practices on Trade

I. DEFINITION OF TERMS * Trade Discount – Deduction in price given by the wholesaler/manufacturer to the retailer at the list price or catalogue price. It is also called functional discounts, are payments to distribution channel members for performing some function. It is offered by a seller to a buyer for purposes of trade or reselling, rather than to an end user. ( Wikipedia ) * Cash Discounts – Reduction in price given by the creditor to the debitor is known as cash discount. This discount is intended to speed payment and thereby provide liquidity to the firm. (Wikipedia ) * Pay roll – is the sum of all financial records of salaries for an employee, wages, bonuses and deductions….

Cumberland Metals Case Study

SITUATION ANALYSIS Cumberland Metals Industries developed a new type of cushion pad for pile drivers made of curled metal. The 11.5 inch “Cumber-Coil” was tested by two different companies on two different projects and was found to far exceed the performance of the existing market-dominant product, the asbestos pad. The Cumber-Coil weighed half what the asbestos pad did and boasted a 33% faster driving time, 60% reduction in heat generated, and 400% less time wasted changing pads. The company that performed the first test was ecstatic with the results and has been pressuring CMI to sell them more Cumber-Coils. Since this is a brand new product unlike anything else available on the market, CMI must quickly settle on an amount…

Dove – Objectives of Marketing Plan & Pricing Strategy

“Setting objectives for a marketing plan is not simple and straightforward matter. It is an iterative process whereby objectives are set, strategies and action plans are developed, and then it is decided whether the planned objectives are impossible, achievable or easy. Marketing objectives should be difficult, but they must be achievable. The aim is to set objectives that a challenge, but can be achieved with effort. They must be motivating rather than discouraging.” (Westwood, 2002). To be useful, the stated objectives should meet several criteria which are known as SMART objectives. [Specific, Measurable, Achievable, Realistic, Timed] According to Marketingteacher.com (2012), the purposes of SMART objectives include: To enable a company to control its marketing plan. =To help to motivate individuals…

Apple International Marketing

1. If you would be working for Apple (Ipad or Iphone) what strategies would you pursue in order avoid situation like what is happening today to Nokia Apple Inc. has already had a spectacular break-through in the technological race when it firstly released Iphone in 2007. Since when, there was a revolution in the technology field especially, in the Personal Computer (PC) industry involves: smartphone and tablet computer. If I worked for Apple Inc., in order to retain as well as to enhance the position of Apple in Today’s market, I would apply, deploy and develop the Relationship marketing with “Differentiation” strategies based on 4P includes: Product-Price-Promotion-Place. Product Firstly, people have to admit the truth that the present success of…

Customer Satisfaction, Loyalty, and Empowerment

1. Should a company be happy or concerned if most customers are satisfied? Satisfaction of the consumer is one of the main goals for a company to achieve. Customer satisfaction is defined as the feeling that results when an offering meets a consumer’s expectations. Companies around the world are doing many surveys, in order to measure the satisfaction of their consumers because the importance of consumer satisfaction is one of the main factors for a company. According to the question, should a company be happy or concerned if most consumers are satisfied, the answer is concerned. The reason of this answer is that if all consumers would be satisfied then it is okay, but in this case not all consumers…

The Left Digit Effect in Pricing Strategy

Have you ever come across price tags that have 9 endings? Have you ever bought those merchandise with 9 endings thinking that was the best deal and ended up with an enormous bill? Do you notice that the 9 endings are usually printed in a much smaller size than the digits on the left? This is a result of a psychological concept called “The Left Digit Effect” in which people tend to pay more attention to the left-most digits than the ones on the right. The idea has been widely used for decades for its great impact on consumers’ shopping behavior. Nine endings can easily be seen everywhere: stationeries of $1. 99, $4. 99 in bookstores, cars of $2,999, $5,999…

Curled Metal – Case Study.

Executive Summary Situation analysis: CMI is looking to diversify its portfolio. It wants to introduce a new high performing cushion pad into the pile-driving market. CMI will initially target small engineering/construction and independent pile-driving contractors. CMI will have the first-to-market advantage, as there are currently no direct competitors for metal pads. In terms of channels, CMI would distribute its pads through manufacturing representative. Main problem: CMI’s primary issue is figuring how price of their new product. Alternative solutions: We studied four different alternatives: cost +, EVC, price differentiation and contingency pricing. Chosen solution: Following a comparison between all alternatives we concluded that EVC was the best pricing method. This method takes into account the real value to the customer according…

Marketing Galaxy

The company that I have chosen for the basis for my report is Mars Incorporated. They have been placed the 5th largest privately held company in the United States and had a $30 billion annual sales in 2010. The majority of people think of chocolate when they hear of Mars; however their confectionary products are not the only thing they focus on. They cater for six business segments:- • Petcare • Wrigley • Food • Drink • Symbioscience • Chocolate They are a privately owned company with more than 65,000 Associates who are committed to delivering the best quality in the segments above. Out of the six segments I will be focusing on one ‘Chocolate’. Mars have 4 billion dollar…

Case Analysis Report on: Compagnie du Froid

This case study describes an ice cream manufacturer, Compagnie du Froid S.A., founded by Jacques Truman’s father in 1985. It is a major competitor in the industry during summer and has presence in France, Italy and Spain. Compagnie du Froid practices decentralization in its organization, where each region is managed by a competent manager empowered to make business decisions in the best interest of the company. Traditionally, the business performance of each regional manager is measured against a set profit plan, with Jacques rewarding his managers a fixed payout of 2% of corporate profits as a bonus. However, the organization is facing many business firsts, which when analysed, raises questions as to whether the fixed 2% payout truly rewards the…

Minor Assignment Marketing Mix

Introduction This report has been compiled in order to describe the four most common elements of the marketing mix which are described by Elliot, Rundle-Thiele and Waller (2010 p.18-21) in the following few sentences. * Product – “A good, service or idea offered to the market for exchange.” (p.18) * Price – “The amount of money a business demands in exchange for its offerings.” (p.20) * Promotion – “The marketing activities that make potential customers, partners and society aware of and attracted to the business’s offerings.” (p.20) * Place (Distribution) – “The means of making the offering available to the customer at the right time and place” (p.21) In conjunction with these descriptions, all four marketing mix elements will be…

Gillette Case Study

It has been empirically proven that having too many options makes decision-making harder. In fact, some studies show that having to make too many decisions can leave people tired, mentally drained and more dissatisfied with their purchases. If you look at the major development milestones of Gillette, they occurred in 1903 // 1971 (68 years later) // 1990 (19 years later) // 1995 (5 years later) // 1998 (3 years later) // 2002 (4 years later) // 2004 (2 years later) // 2006 (2 years later with 2 key development milestones). 1) The major development milestones are occurring closer and closer together, requiring consumers to learn and adapt to product enhancements more rapidly 2) While at the same time, the…

Gourmet Foods

Introduction: Gourmet bakers and sweets is the top food retail chain of Lahore. Lahore is the second largest city of Pakistan fabled for its customer aliment and amorousness for eating. Gourmet is the number one brand in the market of bakers and sweets due to its quality and valuable services. Before 1984, Mr. Nawaz Chattha was the employee of the Shezan bakers at the post of manager. While he was doing his job, he decided to start his own business separately because he was proficient dealer, a technical supporter and maintained check and balance in every branch. Mr. Nawaz Chattha started his business from one out let in Muslim Town with bakers in 1987. After seeing the profitable result he…

Julias Food Booth

Introduction Julia is planning to lease a food booth outside the Tech Stadium at Home Football games to finance her last year education with all the games go sold out. The rent for the booth per game is $ 1000. Julia will sell slices of Cheese Pizza, Hot Dogs and Barbecue Sandwiches which are acclaimed to be the most popular so these are the three products she has chosen to sell at the home games football stadium. The rent for oven is $ 600 for six home games, which makes it $ 100 per game. To keep things simple, Julia decided to hire an outside pizza delivery company, it seems to be cost effective and for other items she plans…

Marketing Mix

Introduction Companies today try their best to continue to keep up with the changes of services, products and technology. Companies rely on their abilities in marketing to keep consumers interested in their products and services. The success of a company may rely on the company’s marketing performance. Marketing planning starts by thinking of the targeted audience needs, strategies, and the development of the products and or service needed. Developing a marketing strategy will consist of the marketing mix. The marketing mix is “the strategic plan that defines the company’s overall mission and objectives”. (Armstrong & Kotler, 2011) Sprint will be used as an example as to how they implement the marketing mix to their company. Sprint’s overall mission and objective…

New Product Paper

Set a price for a new to the world consumer (this means a product that is not on the market) product. Identify a new product you think could be successful on the market and set an introductory price for it. Use the following questions to structure your written analysis. a. What is the product name? Describe the product. The name of my product will be H2O run vehicle. The product is a vehicle, car or truck that uses water and electric to run it and do not use any fossil fuel. The car would not “technically” be running on the water but the HHO gas which is what the H2O would be change to for this to work. This vehicle…

Ikea Tows Analysis

The problem which we have discovered is that IKEA should focus on promoting their green products because it is a growing trend all over the world and we assume that it will keep growing for many years to come. This problem will be solved by using Ansoff’s intensification strategy. Therefore we have chosen to focus on the marketing mix in order to describe the product in better terms. It will also show how we can attract the consumers in a better and more improved way. Furthermore, it will show how IKEA could differentiate from other competitive brands on the market. Product IKEA’s products are all tangible goods. IKEA offers a wide variety of household products and furniture. IKEA has lately…

Pricing and Costing Methods

Organizations today more than ever before must ensure that they reduce costs as well, as the time used to avail products and services to the market. Since planning as well as the estimation of costs are critical to businesses it is important that organizations chose the best pricing and costing techniques. (Seonen, 2006). The implication here is that the fundamental goal of any business concern is to minimize its costs of operation while maximizing its returns to the shareholders. In order to achieve this, there is need to put in place the best pricing policies as well as the most appropriate costing techniques. This paper will attempt to examine the various costing as well as pricing methods that are available…

Pricing Strategies

When designing a marketing plan each and every component is of prime importance. The marketing plan basically consists of four components or as we call them, the four P’s. The product, price, packaging and the place all combined together can make the product successful. They are all interdependent. The Segway is a new invention in the market and is the first of its kind product. Products of this sort are priced high because it is not long before competitors enter the market and take away the profit share for the firm. Pricing is important because it helps position the product in the minds of the consumers; it forms an image which helps attract the target market. If the product is…

Pricing Strategies

Competition based pricing Setting the price based upon prices of the similar competitor products. Competitive pricing is based on three types of competitive products: * Products having lasting distinctiveness from competitor’s product. Here we can assume * The product has low price elasticity. * The product has low cross elasticity. * The demand for the product will rise. * Products have perishable distinctiveness from competitor’s product, assuming the product features are medium distinctiveness. * Products have little distinctiveness from competitor’s products. Assuming that: * The product has high price elasticity of demand. * The product has some cross elasticity of demand. * No expectation that the demand of the product will rise. Cost plus pricing Cost plus pricing is the…

Develop a Coherent Marketing Mix for a New Product or Service

In this assignment, I am going to describe and explain how Apple uses the marketing mix for one of its latest product, a mini IPad. Marketing mix Marketing mix is commonly known as the 4Ps: product, price, place and promotion. These are controllable element and it importantly use when determined and adjusted until the right combination that serve the needs of the product’s consumers. Description of the product The product I have been chosen is one of the latest product of Apple which have been released during November 2012, the mini IPad. This new IPad is available in two models, one with Wi-Fi and another is Wi-Fi + cellular. The IPad mini has two colours which is black and white…

Marketing Mix

ABSTRACT You will read why you should purchase the product Xtra laundry detergent over Gain laundry detergent. By learning about the 4P’s in the marketing. I chose to do my marketing report on Xtra laundry detergent. It is interesting to me because maybe people don’t really pay attention to how much money they spend on laundry detergent. Today I will explain to you in my own words the four characteristics of each element of the marketing mix price, product, place and promotion. First is my product is called Xtra laundry detergent. I use all the time it cleans our clothes very well it gets out stains. I know this because my twins played baseball in their pants would always get…

Commercialization of Beauty

To help with any queries you may have about the examination, I have written some guidelines below. You will have had experience preparing exam questions in your review sessions. The following document provides some further hints and tips, with some sample questions at the end. I have also attached a document with questions from January and Resit last year, with an outline of what the answer should contain. What do I have to do? In the examination, you will be asked to select three questions to answer from a choice of six. Very broadly, these areas might be taken from the nine major sections listed in the course outline as below. 3) Marketing to Consumers & Consumer Behaviour * Why…