6
.docx
keyboard_arrow_up
School
Embry-Riddle Aeronautical University *
*We aren’t endorsed by this school
Course
311
Subject
Marketing
Date
Jan 9, 2024
Type
docx
Pages
4
Uploaded by ColonelBookSwan33
1
6.3 Marketing Plan: Pricing Strategy
6.3 - Marketing Plan: Pricing Strategy
Analeece Julien
ERAU MKTG 311
Professor Kalicharan
November 21, 2023
2
6.3 Marketing Plan: Pricing Strategy
Napa Jet Charter: Price Strategy Analysis
Napa Jet Charter is a full-service premier aircraft charter company, offering personalized experiences to the top one percent. To best engage with our clients, it’s important to select a pricing strategy that considers our client base, competitors, and changing market demands. Market Analysis:
The industry clientele is high earning entrepreneurs, business owners, to generational wealth families and political figures. Influencing factors in the market include overall economic health, competitor pricing, and exclusivity of the market. Pricing Strategy:
A market-based pricing strategy would be most beneficial for Napa Jet Charter due to its flexibility in the changing market. Market-based pricing “adjusts according to market demand, the type of aircraft, and the operational costs” of running the company (Hebert, 2023). Additionally, this strategy considers competitor pricing and overall perceived value from our clients. Strategy Analysis on Napa Jet Charter:
Targeted Positioning:
Because of its flexibility, a market-based pricing strategy allows us to price
our product to a particular client base. Through analysis of the market and gaining an understanding of customer expectations, Napa Jet Charter can successfully price service based on the level of service we provide compared to competitors. Operational Efficiency
: Ensuring our pricing aligns with the market is crucial to safeguard operating costs. Factors that should be considered within the operations department include crew training costs, fuel costs, insurance costs, federal excise taxes (FET), and other various operating debts.
Your preview ends here
Eager to read complete document? Join bartleby learn and gain access to the full version
- Access to all documents
- Unlimited textbook solutions
- 24/7 expert homework help
Related Questions
How do you create a 5-page informational brochure will include the following, Role of pricing decisions on the overall company and marketing strategies, Value-based pricing (value-in-use and value-in-exchange), Price skimming and penetration, Management of international distribution channels and logistics, Mass customization, Five aspects of communication, Social media mix, Viral marketing as a viable marketing tactic that can deliver a positive return on investment (ROI)?
arrow_forward
As Director of Pricing for a mid-market retailer, Mary is struggling with her retail pricing strategy. Marys’ struggles, however, are familiar themes across retail today, like ‘getting shoppers in her stores and still driving profits’. So what’s Mary to do? More work, late nights? More spreadsheets? More status quo, or is it time to take pricing innovation for a test drive?
For reference: https://youtu.be/HGhWnIb1nOY
arrow_forward
(a) What is segmented pricing?
(b) Briefly describe the different types of segmented pricing.
arrow_forward
3.Based on the way SBC's brand manager describes its overall pricing strategy across various types of bikes with varying attributes for different types of riders and varying degrees to which those attributes are incorporated, SBC employs Multiple Choice
A) product line pricing.
B)competitor-based pricing.
C) odd/even pricing.
D) penetration pricing. high/low pricing.
arrow_forward
Analyze the 3 pictures relate it to pricing
arrow_forward
HAPEE TOOTHPASTE - LAMOIYAN CORPORATION
Marketing Strategies
Pricing Strategies
1. Product-mix Pricing Strategy
A. Rationale/ Analysis
B. Pricing Strategy objectives
C. Process (Step-by-step)
D. Expected outcome
arrow_forward
The questions to follow are based on the Converse, Chuck Taylor, All Star Sneakers introduced see attached image
Q1 - Which one of the following pricing objectives would be considered most appropriate for the Converse All Star sneaker? Justify your answer.• Profit orientated goals• Sales orientated goals.• Increasing market shareQ.2 - If Converse introduced a new SMART WATCH for Men and Women, should they launch the product using Market Skimming or Marketing Penetration? Explain your choice.
arrow_forward
Name and describe the two types of value-based pricing methods. (AACSB: Written and Oral Communication)
arrow_forward
Does Trader Joe’s employ good-value pricing or value- added pricing? Explain.
arrow_forward
Using the image above explain which pricing strategy the image represents.
•Discuss how price affects the value of the organization's products or services
•Explain the primary factors to consider in pricing
• Compare common pricing strategies
• Explain price elasticity and how it can be used to set price
• Explain the use of competitive bidding for B2B pricing
arrow_forward
How do you create a 5-page informational brochure for a company like Walmart and will include the following, Role of pricing decisions on the overall company and marketing strategies, Value-based pricing (value-in-use and value-in-exchange), Price skimming and penetration, Management of international distribution channels and logistics, Mass customization, Five aspects of communication, Social media mix, Viral marketing as a viable marketing tactic that can deliver a positive return on investment (ROI)?
arrow_forward
Please help me answer these. Thank you in advance for your help!
Note: This is multiple choice, and the options are on the right side of the picture.
arrow_forward
Descriptive Profile of the Pricing Policies & Practices of Selected Industry:1. New Products Pricing Policy2. Product Mix Strategies3. Price Adjustment Strategies4. Price Changes5. Legal and or Ethical Issues on Pricing Policies & Practices
arrow_forward
• Identify THREE key Pricing strategies and discuss the importance of understanding customer value perceptions, company costs, and competitor strategies when setting prices. What did you learn about. the factors affecting pricing and products, services, and brands. What did you learn about how companies adjust and change their prices to consider different types of customers and situations, these can just be bullet points or a short narrative. • Pick ONE of these key concepts and summarizes the significance of these in a 1 or 2 paragraph explanation of the strategy. (Including examples if appropriate)
arrow_forward
Assume Netflix applies different pricing for corporate buyers than for individuals, even if the content of the package is the same.
What type of pricing strategy does the different options offered to individuals and businesses represent?
a. Predatory pricing.
b. First degree price discrimination.
c. Second-degree price discrimination.
d. Third degree price discrimination.
e. Market segmentation.
arrow_forward
Describe the cost-plus pricing method and discuss why marketers use it even if it is not the best method for setting prices. (AACSB: Written and Oral Communication)
arrow_forward
5-
Airlines are known to jack up fares when peak travel season approaches, and they typically run their fare sales around slow seasons. This is an example of a ________ pricing strategy
Group of answer choices
everyday low pricing (EDLP)
uniform
premium
high/low
6-
Which of the following is NOT a goal of informative advertising?
Group of answer choices
inform customers about upcoming sales
increase awareness
explain how the product works
build company image
7-
A pricing strategy is
Group of answer choices
using one-time seasonal discounts to reduce inventory.
a short-term approach to setting prices
a long-term approach to setting prices in a companywide integrated effort
using slotting allowances to gain access to distribution channels
8-
I mentioned that the main tasks of advertising are to inform, remind, and persuade. At which stage of the product life cycle should the advertising focus on informing?
Group of answer choices
decline
maturity…
arrow_forward
Please help me answer this. The link of the video is here: https://youtu.be/qutavZTkFeY
Thank you so much in advance for your help!
arrow_forward
what pricing approach is it when an athletic commission prices different hockey tickets depending upon stadium seat location (closer or further from the ice, behind the goalkeeper, etc.)
1. Bundling
2.Peak Load Pricing
3.Indirect Segmentation Price Discrimination
4.Direct Segmentation Price Discrimination
5.Complete Price Discrimination
arrow_forward
Chapter 11 – Pricing StrategyDiscuss why it is important to consider pricing from a strategic rather than a tactical perspective.Chapter 13 – Sales, Digital, and Direct Marketing StrategiesDiscuss whether the internet may replace conventional catalogs and direct mail methods of promotion.
arrow_forward
Describe bundle pricing, and give three examples usingdifferent industries.
arrow_forward
SEE MORE QUESTIONS
Recommended textbooks for you
Marketing
Marketing
ISBN:9780357033791
Author:Pride, William M
Publisher:South Western Educational Publishing
Related Questions
- How do you create a 5-page informational brochure will include the following, Role of pricing decisions on the overall company and marketing strategies, Value-based pricing (value-in-use and value-in-exchange), Price skimming and penetration, Management of international distribution channels and logistics, Mass customization, Five aspects of communication, Social media mix, Viral marketing as a viable marketing tactic that can deliver a positive return on investment (ROI)?arrow_forwardAs Director of Pricing for a mid-market retailer, Mary is struggling with her retail pricing strategy. Marys’ struggles, however, are familiar themes across retail today, like ‘getting shoppers in her stores and still driving profits’. So what’s Mary to do? More work, late nights? More spreadsheets? More status quo, or is it time to take pricing innovation for a test drive? For reference: https://youtu.be/HGhWnIb1nOYarrow_forward(a) What is segmented pricing? (b) Briefly describe the different types of segmented pricing.arrow_forward
- 3.Based on the way SBC's brand manager describes its overall pricing strategy across various types of bikes with varying attributes for different types of riders and varying degrees to which those attributes are incorporated, SBC employs Multiple Choice A) product line pricing. B)competitor-based pricing. C) odd/even pricing. D) penetration pricing. high/low pricing.arrow_forwardAnalyze the 3 pictures relate it to pricingarrow_forwardHAPEE TOOTHPASTE - LAMOIYAN CORPORATION Marketing Strategies Pricing Strategies 1. Product-mix Pricing Strategy A. Rationale/ Analysis B. Pricing Strategy objectives C. Process (Step-by-step) D. Expected outcomearrow_forward
- The questions to follow are based on the Converse, Chuck Taylor, All Star Sneakers introduced see attached image Q1 - Which one of the following pricing objectives would be considered most appropriate for the Converse All Star sneaker? Justify your answer.• Profit orientated goals• Sales orientated goals.• Increasing market shareQ.2 - If Converse introduced a new SMART WATCH for Men and Women, should they launch the product using Market Skimming or Marketing Penetration? Explain your choice.arrow_forwardName and describe the two types of value-based pricing methods. (AACSB: Written and Oral Communication)arrow_forwardDoes Trader Joe’s employ good-value pricing or value- added pricing? Explain.arrow_forward
- Using the image above explain which pricing strategy the image represents. •Discuss how price affects the value of the organization's products or services •Explain the primary factors to consider in pricing • Compare common pricing strategies • Explain price elasticity and how it can be used to set price • Explain the use of competitive bidding for B2B pricingarrow_forwardHow do you create a 5-page informational brochure for a company like Walmart and will include the following, Role of pricing decisions on the overall company and marketing strategies, Value-based pricing (value-in-use and value-in-exchange), Price skimming and penetration, Management of international distribution channels and logistics, Mass customization, Five aspects of communication, Social media mix, Viral marketing as a viable marketing tactic that can deliver a positive return on investment (ROI)?arrow_forwardPlease help me answer these. Thank you in advance for your help! Note: This is multiple choice, and the options are on the right side of the picture.arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios