MARKETING CONFERENCE
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The AI Brainstorming Conference topic for this week is pricing strategy: a component of the marketing mix. Consider the Mission, Objectives, Target Market, Competition, Core Strategy, and Communications & Promotions when making a decision on how pricing will be determined.
1.Provide a quick overview of the product or service (the same content you used in the U3 IP).
2.Discuss what pricing objectives you would consider for your product/service.
3.Identify the pricing objective and strategy you will ultimately choose and explain why.
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Solution Summary
The expert examines marketing conferences for Al Brainstorming Conference topics.
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Abstract
The pricing strategy for Tree Ties takes into account, the various aspects of marketing the product, to different market segments. For each segment, the value of the product may be defined differently. While the product is offered at one base price, a more durable product may require a slight upward adjustment. Not all segments or consumers are as price-sensitive as others. The product is offered in a package deal, for those who are less price sensitive, or who view the package of products as more meaningful. Pricing takes into account the level of direct and indirect competition. There is plenty of indirect competition, at many different price levels, from the very cheap to very expensive. There are no direct competitors, so current pricing reflects the value the product provides to consumers, while taking into account the fixed and variable costs of production.
Introduction
Tree Ties is a yard decoration that is affixed on trees. The product is offered in many
different colors and color patterns. Tree Ties is a means for homeowners and gardening
enthusiasts to express themselves or to simply show their appreciation for trees. The product
is constructed of various materials, including polyester blend and nylon. It is able to
withstand weather and remain intact. Products will be promoted through a variety of
channels, including retail establishments, like garden centers, home improvement centers and
retail stores. Tree Ties will also be sold directly, through the organization's online store. The
products will compete with lawn decorations ...
Education
- MEd, Jones International University
- BSc, DeVry University
- MPH, Walden University
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