of a firm‚ and not arrived at through negotiations between a buyer and a seller. Most retail and industrial prices are administered prices‚ which are then adjusted in response to the competitors ’ prices. Administered pricing is also referred to as rigid pricing.or inflexible pricing refers to the setting up of prices by public or private entity and not by market forces.Price set by the management of a firm‚ and not arrived at through negotiations between a buyer and a seller. Most retail and industrial
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MNC BRAND AND PRODUCT PROFILE Baskin-Robbins is a global chain of ice cream parlours founded by Burt Baskin and Irv Robbins in the year 1953. It is the largest franchise with more than 6000 locations in 35 countries. Its major markets are located in UK with 2800 outlets and in Japan with 800 outlets. Its headquarters is in Massachusetts USA. Baskin-Robbins is the King in ice cream marketing; they created a unique positioning for its brand by introducing interesting new flavors. They allow
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Price Sensitivity Model In the 1970s‚ Dutch economist Peter H. van Westendorp introduced a simple method to assess consumers’ price perception. It is based on the premise that there is a range of prices bounded bya maximum that a consumer is prepared to spend and a minimum below which credibility is indoubt. The Price Sensitivity Meter (sometimes called the Price Sensitivity Measurement) is based on respondents’ answers to four price-related questions. A simple and easily executable
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MKT1003X Marketing | Glitzz: Devising a Pricing Strategy | Marketing Case Report (5) | | 1. What factors affect the pricing decisions for a product such as Glitzz? Analyze these factors and comment on the range of prices that can be set. The right price must generate enough sales dollars to pay for the costs of developing‚ producing‚ distributing and marketing the product as well as earn a profit for the company. There are various factors that affect the pricing decision such as objectives‚ demands
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The Marketing Mix (4p’s) The marketing mix consists of Product‚ Price‚ Place and Promotion strategies that a firm uses to help them reach their objectives. The marketing mix principles are controllable variables which have to be carefully managed and must meet the needs of the defined target group. All elements of the mix are linked and must support each other. PRODUCT STRATEGIES When an organization introduces a product into a market they must ask themselves
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festival fundraiser. People’s perception of the value of an object or service would hamper their willingness to buy the goods and services if they feel that the items are priced erroneously. There are several pricing strategies that can be used: premium pricing‚ promotional pricing‚ psychological pricing and price skimming. All of these
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assigned Jason Jowers the responsibility of developing the pricing strategy for the new ‘Atlantic Bundle’. The bundle incorporates a new Tronn server and the Performance Enhancing Server Accelerator (PESA) software tool which allows the Tronn to perform up to four (4) times faster than its standard speed. The Tronn was specifically developed to meet an emerging U.S. marketplace opportunity and Jason Jowers has two weeks to develop a pricing structure to support an upcoming trade show at the beginning
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PART 1 – SHORT ANSWER 1. Products and services fall into two broad classes based on the types of consumers that use them. They are called consumer products and industrial products. Consumer products are bought by final consumers‚ and are classified according to consumer shopping habits. Industrial products are purchased for further processing or to be used in conducting a business. There are also differences in quantity. Consumer goods are usually much smaller in quantity. The type of materials
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pg.5-6 Branding pg.7 Packaging pg.8-9 Price Importance of Price pg.10 Pricing Methods pg.10-11 Promotion Methods of Promotion pg.12-14 Place Methods of Distribution pg
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1. Introduction and Problem Definition Jason Jowers‚ a newly minted MBA‚ had joined Atlantic Computer just four months ago as the youngest product manager. He would be responsible for developing the pricing strategy for the "Atlantic Bundle" (i.e.‚ the new Tronn server and the PESA software tool)‚ which had been developed specifically to meet an emerging basic server market‚ a new market to the company. But it had to compete with Zink server of Ontario Computer‚ its major rival in this market.
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