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Pricing Strategy For Live Face Product by Blue Team Focus - Assignment Example

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This paper "Pricing Strategy For Live Face Product By Blue Team Focus" focuses on the fact that pricing for any product is a key element of the marketing mix because of various reasons such as declining product differentiation, price wars between firms, the existence of advanced markets…
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Pricing Strategy For Live Face Product by Blue Team Focus
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The pricing policy is informed by factors such as the corporate objective, market demand, government policies, costs, micro and industry barriers and reactions from competitors (Saxena, 2009). 
There are a number of pricing strategies used by firms around the world some which could be suitable options for Blue Team Focus Company. To start with, the differential pricing strategy is where a firm charges different prices on its product in different market segments mainly because of different social-economic statuses of the target markets. This strategy could be an option for the Live Face product.

Blue Team can also adopt the geographical pricing strategy which seeks to maximize on the economies of scale by charging lower prices on the product in some areas compared to those charged by competitors (Saxena, 2009). The company could also explore the penetration strategy where it introduces the product with a lower price and increases it gradually based on the demand of the product and market response. Read More
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