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Marketing Mix: Pricing

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Please explain the most appropriate pricing method (and why its appropriate) for the following products:

Netflix
Jolly Green Giant canned vegetables

Compare and contrast the two pricing methods and explain why they are similar or different.

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Solution Summary

The most appropriate pricing method using marketing mix is explained.

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An appropriate pricing strategy for Netflix is value based pricing. Value based pricing is a strategy that focuses on the perceived value of a product or service by consumers. The value that a company offers compared to alternative will be consider when consumers make purchasing decisions. Netflix competes with Blockbuster, Family video stores, and Redbox. The organization competes with the Blockbuster brand, by offering similar online movie and show rentals, but with lower cost membership. Those with a Blockbuster membership must also pay for the in-store portion of the membership. Therefore, Netflix offers a no-frills service that allows members to select a level of membership and access movies online and/or receive ...

Solution provided by:
Beatrice Martino, MEd
Education
  • MEd, Jones International University
  • BSc, DeVry University
  • MPH, Walden University
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