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The Marketing Mix: Pricing

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Write an answer of no more than four pages in which you complete the following assignment:

Using the teaching materials and any additional research explain what you think would be the most appropriate pricing method and why for TWO branded products selected from the following list. In doing so compare and contrast the two pricing methods explaining why you think they would be similar or different.:

MEDIA DISTRIBUTOR, (e.g. Netflix)
CANNED VEGETABLES
ASPIRIN

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Solution Summary

The expert examines pricing in marketing mix.

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There are many types of pricing available for entrepreneurs when submitting new products to the market. These pricing auctions will help penetrate the market and also target the appropriate market for the product. Among the pricing methods are the cost plus pricing, targeted return pricing, value based pricing, and psychological pricing.

For maximum penetration into the market, value based pricing is usually the best option. Pricing the product based on its value can create customers from people of all levels of the market. Penetration pricing is usually a lower cost pricing example. This gets the product into people's hands to try to use it and in most cases learn to like it. It also makes a competitive with other products already on the market including substitution for the product the company is offering. Value pricing can also include offering coupons to lower the price even further.

Cost is pricing at low production cost plus the profit margin the company would like to see the product earn. For example, one would like to consider ...

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