Mktg101 Individual Assignment

Pricing can play an important role in the success or disaster of any product. Too high a price and the product will fail; too low a price and not enough profits will be made to sustain business operations (Hisrich, Peters, & Shepherd, 2014). The key is to make the customer think that they are paying exactly the right price for the product. Anything else though in this regard means the product is not positioned well in the mind of the consumer. First of all, Gril-Kleen will have to decide on what sort of strategy it needs to pursue. This strategy is decided on three factors namely costs, margins and competition.

market, there is price competition. This can lead to price wars and, therefore, lower prices for

Price is the cash expenditure plus taxes that consumers have to pay for a good or service.

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

Pricing is one of the most important elements of the marketing mix for the MARC. It is the only one of the components that generates revenue, while promotion, place, and product generate cost. Producing, designing, distributing, and promoting products come with expenses.

In the article, “ Modern Marvels” by John Loocrapper, it conveys the history of toilets and toilet paper along with how they are made. In the ancient cities of Harappa and Mohenjo-Daro located in present day Pakistan, they had the most advanced plumbing system of the world. It was very important to drain the sewage out of the cities so the smell would not cover a vast part of their area and they did just so. These devices have changed from then but most of the concepts that were created are still in use today. This piece of literature supports the claim how a toilet is made, the history of toilet also known as the evolution, and the background of toilet paper.

Now offering ScrubMommy and Sponge Daddy, with six times the absorbance from its ResoFoam®, Scrub Daddy Lemon Fresh, with a lemony scent, Sour Daddy with its stronger, thicker scouring pads, Eraser Daddy, and the Big Daddy with its large solid shape to provide strength and durability. Even with all this product expansion, there is even more Scrub Daddy can expand too. A great opportunity for Scrub Daddy is to create sponges for the bottom of swiffers. This could even come to a partnership with Swiffer, creating the ideal and effective product sponge for the bottom of the swiffer. Unsaturated Market

The introduction of the Charmin toilet paper in the market was done in the 1920’s where it was known to help people in their experiences in the bathrooms by making it more enjoyable. The toilet paper has penetrated into different markets making it one of the best-selling toilet papers. The company has had to use different strategies to ensure that they remain the number one toilet paper in the different markets that they operate in. Continuous re-engineering of the product is done to ensure that it meets the standards of the market and this has made it more convenient for the customers and the company returns also increase. The recognition of the needs of the market makes the product become every one’s choice and the constant research and development makes the company stay ahead of competition. Charmin toilet paper research and use of different marketing strategies makes the product popular increasing their sales.

Since bathroom areas that we have a tendency to use everyday, their importance is much bigger than we have a tendency to provides it credit for. From bright and cheerful to classy and imposing, trendy bogs have long gone on the far side the limit of house. These trendy details rework uninteresting bogs into fantastic relaxation and refreshing

Since, toilet paper is easy to dispose of, it’s everywhere, it’s one of the biggest marketed items, and a huge money maker, because you can never have too much toilet paper. With a simple flush, toilet paper is gone. The simple design, is so well thought out, that germs don’t spread as much, as if they were in a container, like a tissue box. Where, when you go to grab the next piece you touch the box, and the next piece. You can’t go anywhere in the world without

The price that we pay is the value that we associate to any product, whether it is a good or service. It is the compensation given to a person or authority to purchase an object or service. The greater the value associated to the product, the greater the price.

More broadly, price is the sum of all the values that consumers exchange for benefits of having or using the product or services that are being offered in the market.

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).

Another area that needs consideration is the horrible condition of public toilets. The shortage of public toilets is a big challenge, hence people are compelled to use open spaces to answer the call of nature. The toilets that do exist are in such pathetic condition that one cannot use them.