What Is Dhiraagu Marketing Strategy

Pricing is important when marketing a product. The determining factor for the pricing is the material, time to make, amount spent on marketing and promotion of the product. The goal in providing such a product that is moderately

Pricing is the most important aspect of the marketing mix. Price is the only element of the marketing mix, which produces a turnover for the organization. Pricing plays a crucial role in the product consumption. Pricing products too high or low results in loss of sales for the company. The pricing of each organization based on its corporative objective.

Prices reflect the unique value of the brand to a certain extent. Brand positioning builds the unique brand image in the minds of consumers, so price setting and adjustments must adapt brand positioning, and brand positioning shows the brand’s unique value through price (Kotler, 2013, p. 215). For Qantas, the pricing strategy utilises a cost plus margin method of product pricing, offering lower pricing in accordance to the market demand. The number of travellers requiring Qantas services, prompt the airline to adjust pricing rates accordingly.

This paper is to explain some of the role in the Pricing Strategies and the Marketing Channels

Also recent the announcement of the price increase from the main supplier is discussed and the situation the Marketing Managers are presented with.

Pricing is one of the key functions of the finance as well a marketing department of any company whether it is a manufacturing concern or a service provider. On one hand, the finance department decides the margins and other costs involved in bringing the product or service to a condition for final consumption, the marketing department analysis the market conditions, determines the consumers purchasing power

Very often during the preparing of marketing plan the process of pricing is not on the top. But the price has big influence on marketing decisions and its efficiency. Speedily made decisions about the price without any researches and analysis can lead to the company’s losing revenue.

Price is a very important component of the marketing mix. Hence highly considered in the business planning and the marketing planning because it directly influences the company?s profit/ and loss, and its survival in the market. Adjusting the price of the product has a large impact on the marketing strategy, sales, and demand of the product. In most of the competitive markets, price is determined by the laws of demand and supply. For example, the prices of Dhiraagu products can?t be higher than that of the Ooredoo prices because Maldives telecom market is very volatile and sensitive. Customers may change the service provider very frequently as the country is small and it is very much easier in moving into these companies. So in order to achieve business growth across all segments Dhiraagu have to maintain the quality of goods and services at reasonable prices. Since Dhiraagu is a well-established company, Price component of the marketing mix is been well innovated and is very

dominates the sales market. So, it marks its price in such a way that it is pocket friendly for the consumers. In order to promote sales maximization, it aims to have a strong market position and launches its products in more than 200

The Segment “price” is a part of the marketing mix as well. It focuses on the pricing of the product and

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)

In general terms, marketing is all related to the places of buying and selling of goods and services to satisfy customers’ needs. Nowadays marketing is the most important issues for success of every business marketing is the activity, set of institution, and process for creating, communicating, delivering, and

Price is the value exchanged for products in a marketing transaction. It is a changeable key characteristic of a product and also is a key element in the marketing mix. It directly relates to customers demand and organization revenue.

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).

MARKETING MIX (contd) PRICE: As, Dabur had different sub-categories it came out with variable pricing to reach each and every target segment E.g. : One- litre bottle of Cooler (juice) was priced at Rs.50 Selective Price Reduction to increase Demand Introduction of Smaller packs at Rs.5 Came out with Rs.1 sachet of Vatika Shampoo to increase market share Cutting Price to stand out against competition