Identification of pricing strategies
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Using samples of consumer products such as soda, mobile phones, and designer clothing, identify what pricing strategy is being employed for each product and critique the effectiveness of the pricing strategy in promoting the product.
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This solution discusses identification of pricing strategies.
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Hi,
Let's look at a no-name soda. This is a soda that is unbranded, unlike coke, Pepsi, mountain dew... The pricing strategy would be: Economy pricing. This is a no frills low price. The cost of marketing and manufacture are kept at a minimum, the company does not have to spend millions of dollars on advertising costs. If you look at coke, they spend 2 billion dollars a year in advertising (http://www.fool.com/investing/value/2006/06/12/coke-is-an-idiot.aspx). This needs to ...
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