1.) Discuss what pricing objectives to consider for anti-aging products.
2). Identify the pricing objective and strategy that I can ultimately choose and explain why.
In the marketing of a product, it is important to ensure that the price allocated to the product will stimulate sales and enable the company to gain profits. The allocation of the appropriate price to the product is called pricing. The price of the product is the amount of money, goods, or services should be rated in order for the customer to obtain it. Pricing is an important strategy since it helps in the great positioning of the product in the market. The pricing strategy of a product affects other marketing elements such as product feature, channel decisions and the promotion of the products (Pricing Methods, 2010).
The product, place, price and promotion of the beauty product must be taken in great care to ensure that product beats the other beauty products in the market and satisfies the customers in the market. To attain the objective of the Organization, the company must have their pricing strategies to be in the right balance with what they want to achieve. The market share and profitability of the product will be determined by the pricing element of the product (Cosmetics Manufacturing, 2011).
Discussion of the pricing objectives to consider for ant-aging products
In the pricing of this anti-aging product, the objective should be considered on the basis that setting a price that is too high will lead to the decline of the sales of the product and the setting of low price will reduce the profits of the company. The pricing objectives to be considered will be; the getting of maximum profits ...
This posting looks at pricing objectives and strategies and more so in regards to anti-aging products.