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A Marketing Plan For A 24 Hour Day Care

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Identify the appropriate place and promotional strategy that should be used in the development of the strategic marketing plan. Develop an initial sales promotion schedule. The service chosen is a 24-hour day care.

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Solution Summary

This solution provides guidelines on creating a promotional strategy and sale promotion schedule for a 24 hour day care.

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Prices are the costs involved in consuming a good, that is, the factors that directly affect decisions by individual people and firms concerning what goods and services to consume. There are many types of pricing strategies that can be used.

As based on MarketingTeacher.com (2006), some of them can be stated as follows: First is 'premium pricing' that uses high price and uniqueness within a product or service. Second is 'penetration pricing' wherein prices are artificially low in order to gain market share. Third is 'economy pricing' wherein the cost of marketing and manufacturing are both kept low. Fourth is 'price skimming' wherein there is high price for a substantial competitive advantage. Fifth is 'optional product pricing' wherein the initial goal is to increase customer through optional extras. Sixth is 'captive product pricing' wherein companies charge premium prices where the consumer is captured (MarketingTeacher.com, 2006).

We will provide services of day care 24/7. This will help our customers to focus more on other work without worrying about their child. Thus the main objective of this service will be to improve the customer delight. The pricing has to be appropriate so that this service really becomes popular and serve the above objectives. Thus we will adapt penetration pricing by providing quality child care at lower prices. This will boost our profitability as the shoppers will shop more and employee productivity will also increase due to attractive prices.

Thus prime concern is to create awareness and make this service popular. Thus we will encourage low price but child care will be of highest quality to improve customers delight . After some time we will make an analysis regarding the reactions of customers regarding the prices implemented by the company.
Promotion strategy

We will continue to lead the industry through innovative offerings to consumers who ...

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