In order to achieve our first marketing objective, we recommend the following activities: Keep producing high quality, positive image products that satisfy customer’s needs. Secondly, the team must maintain direct and indirect sales force of no less than 140 and plan in advance in order to have the budget to do so. We also recommend offering employee fringe benefits to encourage long term positions
Mariotti & Glackin (2013) provide that development of marketing strategy and competitive advantage is from the "Four P's". The "Four P's" include product, price, promotion, and place. This paper further outlines each of the "Four P's". Mariotti& Glackin (2013) recommend continually referring to the mission statement and vision statement while developing the marketing strategy. This reference helps to build the marketing strategy and form the core competency for the business. The first part of the business plan, the mission and vision statements, are stated below:
Price will reflect a reasonable pay for the SLP- this is determined through the market demand and market research
5. What strategic considerations are involved in moving this brand forward? Make recommendations on suggested positioning, and delivering this positioning through the marketing mix.
Companies can choose many ways to set prices, skimming price strategy where a company sets a higher price than normal and a penetrating price where low initial price is set. “Pricing
In order to set right price, company should take into consideration the above mentioned factors as well as characteristic of demands such as elastic or inelastic.
Pricing is a relevant issue in procurement at all levels. Individuals purchasing the commodities of an organization should receive clarity on pricing. There is confusion in this
Which other criteria helps make up the three criteria for a successful brand mantra: inspire, simplify, and
Develop an action plan of strategies and tactics to be implemented. Finalize the marketing plan.
When trying to determine the correct price, a number of factors must be considered: the market and its segments, the size of each segment, the ability to reach each segment, what distribution channels to target, whether to vary price by segment, the usefulness of promotional offerings, and whether the goal is to skim or penetrate each market.
In pricing strategy, Miele sets high price as a symbol of high quality product and differentiation
• Focus on growing core brands across categories, reaching out to new geographies, within and outside India, and improve operational efficiencies by leveraging technology.
The strategy for setting a product’s price often has to be changed when the product is part of a product mix. In this case, the firm looks for a set of prices that maximizes its profits on the total product mix. Pricing is difficult because the various products have related demand and costs and face different degrees of competition.
1) Invest heavily in market research section in order to create market-driven products and services.
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.