MARKETING
7th Edition
ISBN: 9781260087710
Author: Grewal
Publisher: RENT MCG
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Chapter 15, Problem 7MA
Summary Introduction
To discuss: Two business-to-business pricing tactics used by Person X as a product manager of Company N.
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Imagine you are the product manager for Neutrogena’s sun protection product line and your team developed a new type of sunscreen. Which two B2B pricing tactics would you use to promote it? Why?
Choose a consumer product with which you are familiar. For that product, discuss its pricing strategy. What other strategies could work for that product? Did the company use cost-plus, full-cost, or incremental cost in its strategy?
1. Please read the chapter-opening case “The Price of Free College” on page 381 and answer the following questions: What kind of marketing changes if any, are likely to change expensive cost to attend 4-year college degree programs? Any target marketing that you would suggest? What do think about the UC Regents or Cal-State Universities tuition pricing system? Do you have better pricing strategy you can recommend?
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- Does "value" mean the same thing as "low price"? How do these concepts differ? Pick two competing brands from a familiar product category (watches, perfume, consume electronics, restaurants) - one low priced and the other high priced. Which, if either, offers the greatest value? Why might the strategy for setting a product's price need to be changed when a product is part of a product mix? What are the five product mix pricing strategies? Provide an example of each. (4 points) Alicia is a self-employed hair stylist who owns her own salon. She has asked you to consult with her on how to generate more revenue. Using the price adjustment strategies discussed in the chapter, advise Alicia on her options to increase sales. Please be detailed in your response with why you are choosing each.arrow_forwardWhich pricing strategy (or maybe a combination of strategies) is best for your product/service? Why? How did you come to this conclusion? What price will you offer your product(s) or service for exactly? Will you use any promotional strategies?arrow_forwardGo online to a shopping site you use regularly and note theprices for different types of products. Does this firm usepsychological pricing? Product line pricing? Note any pricingstrategies you can identify. Do any of these strategies makeyou prefer the site over a competitor’s site?arrow_forward
- Why might penetration pricing potentially negatively impact brandimage and product positioning in the long run? Given this risk, whywould a marketing manager use penetration pricing?arrow_forwardWhy might penetration pricing potentially negatively impact brand image and product positioning in the long run? Given this risk, why would a marketing manager use penetration pricing? Identify a brand that you believe is engaged in penetration pricing.arrow_forwardResearch your company and determine their pricing on all of their products/services? Are they competitive in their pricing? Are they higher or lower than the competition? What type of pricing strategies do they use (refer to your text)? What do you feel about their pricing decisions? The company I chose is Walmartarrow_forward
- What is psychological pricing, and how is it used by sellers? Give an example.arrow_forwardwhat is IKEA pricing decisions?arrow_forwardWhich pricing objectives will you use for your product? Consider the product life cycle, competition, and product positioning for your target market during your discussion. PlayStationarrow_forward
- Consumer perceptions of prices are also affected by alternative pricing strategies. Marriott Hotels, for example, has different brands for differing price points. Building upon the Marriott example, please SCAN the environment to find examples of a company whose pricing strategy is closely tied to its branding strategies.arrow_forwardhow does consumer pricing differ from business pricing? I'm having trouble with this conceptarrow_forward1. Given that there is a serious disadvantage to cost-based pricing, how would your account for its widespread use in retailing and other businesses? 2. What is parity pricing? How does it differ from other forms of competition-based pricing? 3. Describe some ways that a seller using competition-based pricing could deal with the presence in the marketplace of a variety of prices for an item.arrow_forward
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