Godrej Chotukool

In Ice-Fili’s case, they used multiple suppliers for the same raw materials and had a steady stream of offers from new suppliers. Equipment manufacturers had more bargaining power; however, as more domestic producers begin manufacturing that equipment, their bargaining power erodes. Bargaining Power of Buyers is moderate. Their buyers are resellers as well as consumers. Switching costs for buyers are low, resellers don’t have any particular brand loyalty, and consumers can purchase the same style of ice cream (such as Lakomka) from multiple different companies. That being said, a sizeable portion of the market prefers domestically produced ice cream that does not contain preservatives. Another portion of the market is willing to pay much more than the average price of ice cream for what they view as a premium product and experience. Threat of New Entrants is also moderate to low. While there are new companies joining the market, fixed costs are high, including the need to import equipment for production. Many of the companies that have entered the market are companies who already had cold storage facilities that were underutilized. As this excess capacity phases out, the number of new

When marketing any kind of product, the producer should take in to consideration the elements that will impact their business. If they can come up with solutions to these problems then they products are more than likely to succeed.

Pricing Objectives involve specifying the role of price in an organization’s marketing and strategic plans. These

I will then make sure I create value for each customer segment and create a pricing structure that will align price with the value delivered. On the other hand, most of the customers usually perceive that the higher the price charged, the higher the value is attached to the goods they purchase or services offered. This also becomes a cutting edge in determining the pricing strategy to use as I anticipate my clients to perceive what I offer them to be of a high value.

Price is defined as “The value that will purchase a finite quality, weight or other measure of a good or service” (Business Dictonary). When growing up your parents always said, this is too much money so you wouldn’t be able to get that candy bar or video game because the price of the product was too high. Whether this be because of high price the person that made this product had to out some research into the idea of how much they should sell this product for, how much profitability am I making at the end of the day after all deductions are taken out. The price is what set’s your product apart but a high price mean’s that you need to market the product very well to get people to buy it and build a quality product to get raving reviews. At Starbuck’s they always advertise giving you incentives and low prices. Summer time they do Ice Blended hour, which from 3 pm to 5 pm they offer their ice blended

The third Consumer offering is Specialty offerings. These products and their brands vary greatly in look, quality, functionality and image. These products are more exclusive, promises a certain lifestyle to the consumer, and are slower moving as compared with Convenience and Shopping offerings and therefore would enjoy a higher profit margin.

3) Individuals are willing to pay more for an exclusive product in order to impress others. The person that is impressed would find value in that item.

areas were canned tomato products, frozen orange juice, cake mixes, and yogurt. Barkley was known to have strengths in operations (product preparation), distribution (obtaining distribution and managing the shelves), and advertising. Their brands typically held a solid second-place position in the supermarket. There was no effort at umbrella brand identification, so each product area was carried by its own brand. Joyce Stevenson had previously been in strategic planning, and reviewed the type of information and analysis that would be required to support a strategic decision like this one. She wrote down the following four sets of questions to guide the thinking of the research group: 1. Market analysis ■ What are the size, current growth rate, and projected growth rate of the industry and its relevant subsets (such as ethnic dinners) for the next five and ten years? ■ What are the important industry trends? ■ What are the emerging production technologies? ■ What are the distribution trends? ■ What are current and future success factors (a competitive skill or asset needed to compete successfully)? 2. Environmental analysis ■ What demographic, cultural, economic, or governmental trends or events could create strategic threats or opportunities? ■ What major environmental scenarios (plausible stories about the future) can be conceived? 3. Customer analysis ■ What are the major segments? ■ What are their motivations and unmet

Refrigerators are manufactured in two basic designs which are referred to as Direct Cool (DC) and Frost Free (FF) refrigerator.

* Motivating the retail that the price will be increased and there would be a good margin on the product.

In order to make a profit, a business should ensure that its products are priced above their

Quite often, consumers purchase goods and services based on their perceived need. Upon making the decision that a need is present and a solution is available consumers are more equipped to react to that need. Although previously perceived that consumers will normally accept prices as presented by suppliers that remains to not be the case. Consumers assess and process prices based on past purchases and other psychological process they went through previously such as persuasive marketing strategies, accessibility of the goods or services and possibly information gathered from prior purchasers of a product. There are countless options that are available to consumers. Consumers are then faced with the choice of choosing the product that best fulfills their need at that given point. Consumers who are knowledgeable regarding prices will be aware of the approximated price for products (Zhao, Zhao & Deng, 2015).

Keeping these realities in mind, it is very much obvious that for this market, we choose and follow a value based pricing and do not keep the price of the product too high. It is advisable rather to follow an average pricing and let the consumers build some enthusiasm around the product.

Price interacts with all other elements of the marketing mix to determine the effectiveness of each and of the whole. The objectives that guide pricing strategy should be a subset of the objectives that guide overall marketing strategy. Thus, it is probably wrong to view price as an independent element of marketing strategy or to assert that price, by itself, is a central element in the marketing mix.” (Webster, 1979)

Price, which is one of the most important elements of the marketing mix, can be difficult to get right. Pricing too high, or low, can negatively impact on customer satisfaction and revenue. Adopting a pricing strategy is necessary to achieve desired sales objectives (Chan & Wong 2005).