Marketing Pl Product And Service Offerings

The company gain additional promotion from the designer and artist engagement with the product that will strengthen its customer relationship and also indirectly creating a community for the brand. Price Strategies • Cost Based Pricing The price of the bags are based on cost of goods sold and marketing conditions on setting the price. This cost strategy will be used for the sport 's series bag of M-Series. On the current market, selected brands offer shoe compartments and this products are priced higher than regular bags. So, the company will price the bag with its cost of goods sold and marketing factors such as the price of the competitors and the product value of the bag. • Psychological Pricing Since the company 's target market is students with low savings level. Student lifstyle bags will be priced at Php 999 instead of Php 1,000, to create "less" in consumer 's mind. Students perceived prices exceeding the amount of Php 1,000 as expensive. So, the company will position the item price in such a way that it will not be too expensive for its primary market but still profitable for the company. • Bundle Pricing Related products like wallets or pouch and bags will be combined and sold at a bundle price. Pouches and wallets will be sold at "3 for 250" to reduced the item price and create a discount and encourage more quantity to be sold. Place