Bait Delivery Service Pricing Strategy
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I would like to have a 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.
Can you discuss what pricing objectives you would consider for the bait delivery service?
Also, can you Identify the pricing objective and strategy you will ultimately choose and explain why?
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Solution Summary
The solution suggests a pricing strategy when making a decision on how pricing will be determined.
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Our company will attempt to maintain a pricing strategy that brings in approximately 16% over costs. Since we are the only company currently providing this service, we understand that the competition will grow as our service becomes known and others wish to enter the market. Our competitors at this point are all on land, which is the purpose of providing delivery.
Pricing strategies must consider several factors. We want to maximize ...
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