StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...

The Marketing Mix: Price - Essay Example

Comments (0) Cite this document
Summary
Running Head: PRICING DECISION Pricing Decision Customer Inserts His/her Name University Name The concept of marketing mix is the foundation of the marketing concepts of all the organizations. The basic business functions revolve around the strategies and objectives formulated by the businesses…
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER93% of users find it useful
The Marketing Mix: Price
Read Text Preview

Extract of sample "The Marketing Mix: Price"

Download file to see previous pages Thus, it is very important for any business to carefully price its products in order to generate revenues. This paper shall discuss the pricing strategies of the two products and the differences between both the strategies. These two products include freshen food and the media distributor. Pricing Decision There are various types of prices that can be set for a product. They include the types such cost plus pricing, value based pricing, positioning pricing, psychological pricing, etc. Different prices are set to indicate the worth of different products and to distinguish them from one another. The sensible pricing by the seller helps him make profits and compete successfully with the other rivals existing in the industry. Fresh Food The fresh food refers to the sort of food which is freshly picked form the farms everyday and is provided to the customers in the grocery markets or other shops. The examples of fresh foods would include the items such as vegetables, fruit, and other food which is eaten everyday in lunches and meal. This category of eatables is easily perishable and has to be consumed fresh everyday. The sellers adopt a special type of pricing known as dynamic pricing to adjust the worth and value of freshen food. Due to the impact of the quality and time on the value of the fresh food provided to customers, such products are priced on the basis which is also referred to as the special type of price discrimination (Christ, 2011). This is due to the fact that the producers of these items offer varying rates of the same product to different customers depending upon the time of the day, or the period. Such pricing is essential as the sellers might have to bargain with the customers, or increase and decrease the prices willingly depending on the situation. Thus, no single price can be fixed or intervened form the government or any individual in this context. Sometimes, the sellers of such items also apply the concept of area-based pricing on their product. In this situation, the prices may vary from one place to another or form one region to another region. Thus, the pricing for fresh foods can vary from seller to seller as well. This strategy boosts the revenues of the seller along with taking into account the quality of the product being offered to the consumers and the circumstances as well. Media Distributor The media distribution is an entirely different sort of product where a very complex marketing strategy is involved along with a huge market filled with the competitors giving a tough competition to the opponents. Companies like Netflix and World Call are also the vital part of such market. These leading companies adopt a very well though-out and sophisticated marketing strategy to sell their products exclusively (Tanner & Raymond, 2010). These companies normally start with the penetration pricing or the ones that already ruling the market for the same product. Then, they might move to the value added pricing strategy just like all other media companies. Some companies like Netflix might fix their prices on monthly basis for all their customers depending upon the different packages that they avail. While, other companies might charge the prices based on hourly system and also move to the price for each additional value that they give to their customers (Freeman, 2008). The products mentioned above differ in nature and thus would ...Download file to see next pages Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“The Marketing Mix: Price Essay Example | Topics and Well Written Essays - 750 words”, n.d.)
Retrieved from https://studentshare.org/environmental-studies/1421936-the-marketing-mix-price
(The Marketing Mix: Price Essay Example | Topics and Well Written Essays - 750 Words)
https://studentshare.org/environmental-studies/1421936-the-marketing-mix-price.
“The Marketing Mix: Price Essay Example | Topics and Well Written Essays - 750 Words”, n.d. https://studentshare.org/environmental-studies/1421936-the-marketing-mix-price.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF The Marketing Mix: Price

Marketing Communictions Strategies of the Col Drinks in the UK

Unfortunаtely for smаll soft drink compаnies such аs the Double- Colа Co., the prize of less thаn one percent mаrket shаre is won only by fighting а dаily bаttle for survivаl, especiаlly аgаinst industry giаnts Cocа- Colа аnd Pepsi- Colа.

The following investigаtion is а cаse study of the successes аnd fаilures of one smаll compаny in the soft drink wаrs. It is а testаment to the meаning of brаnds аnd the lengths thаt loyаl consumers go to keep Double- Colа аs their fаvorite beverаge. Аnd it is аn evаluаtion of how аdequаtely the current regulаtory environment serves the needs of these consumers аs well аs Double-Colаs owners аnd bottlers. It аddresses criticisms thаt the regulаtory environment permits аn uneven plаying...
19 Pages (4750 words) Case Study

Integrated Marketing Communications Programme for Crunchy Crunch Company

The Crunchy Crunch Company (CCC) has been in the business of making crisps and other snacks for many years. They want to build on their reputation for traditional health-conscious consumers. Therefore, they have made the brave decision to move away from the traditional products it has in its portfolio and are about to launch a range of healthy snacks. The brand name for this range is "Fit" to reflect the healthy nature of the products and the people consuming them. So far, four varieties will be available: Fit Fruit (Fruit and corn-based snack) Fit Quiche, Fit Frosty (a savory ice cream) and Fit Crackle (a crisp like product).

“According to the American Marketing Association, marketing research is the systematic g...
8 Pages (2000 words) Case Study

The Marketing Communications Strategy & Mix: Sports Company

Despite the challenges that Adidas met in the 90s from fierce competitor Nike, the company hit the rebound by the end of that decade and has reclaimed its position as one of the leading sports companies nationwide. Considering that the company almost went bankrupt at its lowest point, it managed to rise and compete once again in the market.
With Adidas’ position in the sports apparel industry, this research aims to find out and evaluate the various marketing communications strategies that Adidas has implemented over the years. Further, this research aims to be able to identify which strategy is proven to be most effective, and which did not bring the desired results.

Football is undoubtedly the most popular s...
9 Pages (2250 words) Case Study

The Popularity of Mobile Phone Marketing

The marketers of today should have a hawks eye on any new marketing trends and issues so that they can be adopted and addressed respectively and so that they benefit the marketing activities of the product to the maximum possible.
The current issues in marketing are those which have not been that prevalent/popular or even existent a year ago, and this is where the need for a spotlight on them arises. Marketers in the making need to have a close look at these current issues so that they can incorporate them into their marketing practices when they step into practical life. Not just those in the making, but it is essential for currently established marketers to be flexible for these current issues so as to provide the best mark...
10 Pages (2500 words) Term Paper

Marketing Research Plan: Old Navy

Gap’s credit ratings thereby limiting access to the capital market, international trade matters which may be disruptive of the supply chain, changes to its IT systems disruptive of operations, changes in the IT services agreement with IBM that can disrupt operations and produce adverse effects on financial results, international expansion through franchising and other arrangements may impair the value of its brands if unsuccessful, products are subject to risks associated with overseas outsourcing and manufacturing, and failure of vendors to adhere to Gap’s code of vendor conduct could harm the business. From available data in the 2007 Annual Report, both the Gap and Old Navy brands have exhibited declining net sales....
11 Pages (2750 words) Business Plan

Postmodern Marketing

The notion has been lingering around for almost a century. Hence, nowadays, it is ordinary for businesses, and public sector organizations, to take advantage of customer feedback as one of the contributions to their marketing techniques and public guiding principles. There is an insignificant sign of their being any decline in the need for market research. The concern is not about whether or not market research is valuable, but a concern of the process research proof should be interpreted (ibid).
Market researchers are at the present-day expected to better understand the entire customer experience. As firms persevere to establish an inclusive image of a customer’s interactions with the organization, hence also are resea...
13 Pages (3250 words) Assignment

Marketing Strategies of Apple i-Phone

‘Apple Inc’ is an American multinational corporation designing and manufacturing consumer electronics including computers, notebooks mobile phones, and software products. The company’s best-known hardware products include the iPhone, iPod and very recently launched 3G Apple iPhone.

iPhone became one of the most discussed new technology products, surpassing the wider coverage of other very well-known mobile phones that have been playing the best roles in the market. When Apple CEO Steve Jobs stood on the stage at the Macworld Expo in San Francisco and announced “We’re going to make some history together; Today Apple is going to reinvent the phone” (Jobs 2007), it could really influence...
8 Pages (2000 words) Case Study

Marketing Planning of MD Inc UK

To cash in on the brand image achieved through the success of the ‘Bliss’ range of a hair care products, by positioning the new product range as affordable while being gentle and versatile and target the already favorable market segment of the ‘Bliss’ range.
MD inc. has already been in the beauty and personal care sector and has a successful product range named ‘Bliss’ under its kitty. The new market that is the Electrical hair care appliances market is potentially a high growth area. Though the current growth rate is slow, the future trends indicate that with appropriate marketing strategy and positioning, the market and the companies in this sector can grow at a higher rate.
Demograp...
6 Pages (1500 words) Case Study

Current Trends in the Marketing Communications Environment

Traditional marketing communication functions such as advertising and public relations have also extended over the internet, as companies utilize the web to reach target audiences. One example of this is Toyotas marketing campaign of its Scion brand in 2006 in Whyville.net, a website is set up to for kids age 8-15 in order to encourage greater interaction and induce brand loyalty (Cousineau & Scurry 2006). According to Cousineau & Scurry, with websites such as these where consumers can try the brands, in the kid's case—test driving the Scion—consumers interests are aroused which make them seek out [a] brand and interact with it on an ongoing basis rather than actively avoid it (2006, 37).

An e-mail h...
13 Pages (3250 words) Assignment

Info-Point: Marketing of New Touch Screen Information Technology

The development of the new Info-Point technology, a stand-alone information module designed to offer the public information on tourism, local shopping, weather, and transportation, has created the opportunity to successfully market these information technologies to different UK cities. The entire marketing concept is to establish self-service information centers that offer a wide variety of regional information, utilizing an easy-to-use touch screen methodology to cater to a broad mass market of consumers. 

Touch screen interface systems are becoming more and more common in the UK and abroad. During a pilot experiment using touch screen information technology, the automotive manufacturer Lexus piloted an informatio...
10 Pages (2500 words) Report
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Essay on topic The Marketing Mix: Price for FREE!

Contact Us