Marketing Packaging Assignment For this assignment I chose to do the packaging of the box my cellphone came in‚ when I purchased it at a large electronic retailer around 8 months ago. I remember when I was buying the phone the sleek design of the packaging definitely helped me make my decision on buying it or going with one of its rivals. Although I had already done some research and determined this is the product I wanted‚ I could have easily changed my mind if the package the device came in was
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Background Packaging is a very important marketing strategy to glamorize your product in order to attract the consumer’s attention. Sometimes packaging is so important that it cost more than the product itself in order to lure the consumers to buy it. Most consumers judge a product by its packaging before buying. So it is logical to say attractive packaging is crucial in order to get the first time buyers to buy your products. There are many elements involved in the success of a product and packaging is
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oligopolistic market structure which has a direct effect on pricing strategy. In this type of market environment‚ organizations increase profits by producing where MC=MR or marginal cost is equal to marginal revenue. McDonald’s and their competitive organizations set the prices for their industry. “Because of their “fewness‚” oligopolies have considerable control over their prices‚ but each must consider the possible reaction of rivals to its own pricing‚ output‚ and advertising decisions” (Brue et al‚ 2009)
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Negative Effects of Packaging By Naomi Bolton‚ eHow Contributor Plastic packaging receives wide use‚ but there are negative environmental effects tied to the product. To obtain consumer products in our modern society‚ we have become more dependent on packaging. Despite packaging’s benefits‚ many negative implications exist. As global population escalates‚ the demand for packaging increases and the need to deal effectively with the growing plastic waste is ever present. This is highlighted by
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marketing psychologist‚ began to take into account the psychology of packaging design. Cheskin study how consumers’ emotional response to the package by doing experiments. In his experiments‚ he placed the same two products in two different packages. A circular packaging and other packaging triangular. Participants in the experiment were asked to choose which products are most favored and why. They were not questioned at all about the packaging. Also not required to say anything about the container. The result
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PRICING METHODOLOGY Pricing methods adopted by an organization determines the values attached to its products. Pricing determinant can be Internal or External. An Internal pricing determinant is one that is controlled by the marketer while the external is not controllable by the marketer. We shall be considering the following types of pricing models: PRICE DISCRIMINATION: Price discrimination is the practice of setting a different price for the same product in different segments to the market.
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1. Pricing decisions Factors to consider when setting prices All profit organizations and many non profit organizations must set prices on their products or services. Simply defined‚ price is the amount of money charged for a product or service. More broadly‚ price is the sum of the values consumers exchange for the benefits of having or using the product or service. A company ’s pricing decisions are affected both by internal company factors and by external environmental factors. These factors
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Pricing is one of the most important elements of the marketing mix as it is the only mix‚ which generates a turnover for the organization; the remaining 3p’s are the variable cost for the organization. It costs to produce and design a product; it costs to distribute a product and costs to promote it. Price must support these elements of the mix. Pricing is difficult and must reflect supply and demand relationship (Constantinides‚ 2006). Pricing a product too high or too low could mean a loss of sales
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International Pricing-15 What is a Price? * Revenue received by a business in exchange for benefits provided * Customers give-up in exchange for the benefits they receive * Costs include: money‚ time effort‚ opportunities General Factors in Price Determination * True markets (customers have options) price determined by a combo of cust/co. issues including: * Pricing obj. of business‚ business constraints‚ gen pricing strategies‚ customer influences‚ competitive forces
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DAMARK PACKAGING INC: WRAPPING UP MEXICO Instructions: Prepare answers to the following questions. The case midterm will be two of these questions plus one on the case not listed below. QUESTIONS: 1. Size up Damark’s operations in Canada‚ the United States and Mexico. Assess the strengths and sustainability of its activities in each market. Canada Highest Margin Largest Potential Market for our machines Best A/R management Best Inventory Management THESE ALL ALIGN WITH OUR SUCCESS FACTORS MANAGEMENT
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