Prices, Output and Strategy:
- Pick a good or service you are familiar with. Speculate how the price for that good or service may have been set and how well this price maximizes profit for the company and determine what shifts the company should make in its pricing strategy. Provide support for your recommendations.
- Discuss how the company you selected should increase its competitive stance in the marketplace and how management would implement the recommendations. Provide specific examples to support your response.
Here is an example - I hope this helps!
The product selected for this assignment is BMW cars. The company takes into account several factors before pricing its automobiles in different markets across the world. First of all, BMW prices its vehicles by taking into account its premium positioning in the marketplace. The perceived value of the BMW brand is for its luxury and performance related factors, allowing the company to charge a premium for its brand. The company also takes into account pricing strategies of close competitors such as Audi and Mercedes before fixing the price of its various models in different markets. The economic conditions are also ...
Pricing strategies, competitive strategies for BMW cars discussed in this solution.