Saintleo MKT301 Module 6 Discussion Latest 2019 January
MKT301 Principles of Marketing
Module 6 Discussion
You want HOW MUCH for
that bag?
Why can Prada sell a
handbag for $2,000 that costs the firm a little more to manufacture than the
$200 bag sold at a department store? At the other end of the pricing spectrum,
why would a consumer goods company provide a coupon that makes their new snack
product all but free? We learned in the Elder Care scenario that there are a
number of pricing strategies firms can use to achieve their marketing
objectives. Do they want to build market share, create a perception of
exclusivity, or simply get you to try those new cookies?
Consider the product
you are using for your marketing plan. How would you price it to achieve your
objectives? Describe the pricing strategy you would use to introduce your
product to the market, and why you selected that strategy over other options.
Be very precise – you must use the correct terminology to receive ANY points.
Your analysis must include:
If your choice a long-term
or short-term strategy?
What advantages or
disadvantages do you foresee?
Suppose that sales are
not meeting your objectives, what change might you make in your pricing?
Be sure to complete
the Elder Care scenario and the exercises before you attempt to post. Posting
is not available until you have completed the scenario. As always, college
level writing is expected and your post should be a minimum of 300 words.
By the way, that $2000
Prada bag may seem like lot of money for a simple handbag, but it is not even
close to top of the pyramid. For that, check out the Tanaka designed bag sold
by Hermes for a staggering $1.9 million. Why not order two?
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