Research 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 Walmart

Research 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 Walmart

Principles Of Marketing

17th Edition

ISBN:9780134492513

Author:Kotler, Philip, Armstrong, Gary (gary M.)

Publisher:Kotler, Philip, Armstrong, Gary (gary M.)

Chapter1: Marketing: Creating Customer Value And Engagement

Section: Chapter Questions

Problem 1.1DQ

See similar textbooks

Similar questions

1. What is the role of cost in pricing? 2. Pricing strategies work best when they take into consideration the four major pillars of pricing: 2.1 customers 2.2 current positioning 2.3 competitors 2.4 costs Explain each pillar. 3. Of the so many pricing strategies explain at least four pricing strategies that should be used in pricing either product or service 4. What are the steps in developing effective marketing communication? Explain each clearly. 5. How are you going to set the price in each phase of the product life cycle? Explain each clearly.
The three factors that affect pricing decisions for marketers are: Value-Based Pricing, Cost-Based Pricing, and Competition-Based Pricing. Explain them.
What economic factors should a marketing plan consider to optimize pricing strategies for a new product launch?
What pricing advantages or disadvantages do companies face in selling their products through online auctions? How do online auctions affect the pricing strategies of other companies? Why?
Explain how the firm (Education/Community College) can increase its profits by using price discrimination. What segments of the market could be charged higher / lower prices, and why? What might be your guess for the range of these prices?
The Services industry is one of the most affected by the COVID-19 outbreak, and to be able to hype up the industry, think of new or innovative ways on how to help boost it. With given travel agency in Philippines called: Creative Travel Agency Discuss the proposed pricing strategies of your chosen company and compare them with their direct and indirect competitors. Choose 1 direct and 1 indirect competitor. Do not forget to cite your references/websites.
You're in charge of pricing Phonic's product for its launch early next year. Review the SWOT analysis you previously prepared as well as Phonic's competitive environment, targeting strategy, and product positioning. Now continue working on your marketing plan by responding to the following questions. * What should Phonic's primary pricing objective be? Explain your reasoning. * Are smart phone customers likely to be price sensitive? What are the implications for your pricing decisions? * What price adaptations (such as discounts, allowances, and promotional pricing) should Phonic include in its marketing plan?
Select a basis for pricing your product (cost, demand, and/or competition). How will you know when it is time to revise your pricing strategy?
Go 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?
in terms of marketing how would you identify and discuss the important internal and external factors affecting a business’s pricing decision. Use examples to illustrate your answer
Explain how has Radant Beauty used the elements of its marketing mix to meet the needs and wants of its target market (Generation Me). Your answer must clearly indicate the specific activities that Radiant Beauty undertook under the headings of:- PRICE (The answer should go beyond merely regurgitating the actual price quoted in the case and clearly explain the pricing strategy that the company utilized_. CONSUMER BENEFITS Notes: Bother answers must be relevant to the case and must be based on sound marketing principles and the insights you gleaned from analyzing the case.