Purchase Solution

Marketing Managers & Price Strategy

Not what you're looking for?

Ask Custom Question

Identify the strategy decisions a marketing manager must make in the Price area. Illustrate your answer for a local retailer.

Purchase this Solution
Solution Summary

This solution identifies the strategy decisions a marketing manager must make in the price area and includes examples and a link.

Solution Preview

A marketing manager must decide how to price his product based upon the target clientele and type of product it is, and product positioning in the market place. Part of the decision making process in determining this is the price of goods, competitive pricing, supply and demand. It is crucial to decide the margin goal for the time as well. It would be ludicrous to price an item below cost, and blast the market with ads only to lose money and be unable to stay in business. He must decide if he wants to have an everyday low price, ...

Solution provided by:
Sally Baldwin, Ed.D
Education
  • BA, University of Southern California
  • MSS, United States Sports Academy
  • Ed.D, Boise State University
Recent Feedback
  • "Thk u"
  • "Thank you!:)"
  • "Thank you!:)"
  • "Thank you!:)"
  • "Thank you!:)"
Purchase this Solution
Free BrainMass Quizzes
Team Development Strategies

This quiz will assess your knowledge of team-building processes, learning styles, and leadership methods. Team development is essential to creating and maintaining high performing teams.

Social Media: Pinterest

This quiz introduces basic concepts of Pinterest social media

Basic Social Media Concepts

The quiz will test your knowledge on basic social media concepts.

Marketing Research and Forecasting

The following quiz will assess your ability to identify steps in the marketing research process. Understanding this information will provide fundamental knowledge related to marketing research.

Organizational Behavior (OB)

The organizational behavior (OB) quiz will help you better understand organizational behavior through the lens of managers including workforce diversity.

View More Free Quizzes
Related BrainMass Solutions

  • Marketing managers

    Marketing managers should understand the relationship between the product lifecycle and the marketing strategy and should incorporate it into the marketing plan.

  • Strategic Marketing - Amazon

    The senior managers are concerned with the process of price setting and closely review marketing metrics related to price setting. Step 8 There are several issues relating with integration or diffusion in organizational design of marketing.

  • Global Positioning Strategies

    How does positioning help in deciding on a marketing strategy? What are the differences between using "attribute or benefit" and "quality and price" as positioning strategy? 1. Positioning helps in deciding on a marketing strategy in several ways.

  • Break-Even Analysis & Planning

    A number of managers are in favor of this strategy, as they believe it is important to reduce costs. The second strategy is to increase spending on advertising and promotions and set a selling price of $200.

  • Pringly Division

    A number of managers are in favour of this strategy, as they believe it is important to reduce costs. The second strategy is to increase spending on advertising and promotions and set a selling price of $200.

  • Impact of Internet on Marketing Research

    If we have the wrong target audience, then the marketing strategy will not work since you are selling the product to people who have no interest in it - price: Marketers need to understand how to price the product.

  • move towards online stores

    Further, the pricing strategy for each local market has to differ on account of competition prevailing in those markets.

  • Mission Vision and Objectives for Glo-Bus Team

    , stock price appreciation, and credit rating.

  • Element for product launch plan

    The marketing strategy then should focus on advertising through those channels that reinforce its benefits of price and size.

  • Marketing and Pricing Strategies

    Marketing mix is the combination of marketing tools that marketing managers orchestrate to satisfy consumers and the company objectives. Underpinning Marketing Mix is a number of marketing terms which are: 1. Product, 2. Price, 3.

View More Related Solutions