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International marketing plan - Essay Example

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Pricing, which is one of the P’s of marketing, will determine the right price that a company will place its products at and ensure that they retain, attract new customers and remain competitive in the market. Determining the cost of the Kauen chewable toothpaste tablets will…
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D. Price Pricing, which is one of the P’s of marketing, will determine the right price that a company will place its products at and ensure that theyretain, attract new customers and remain competitive in the market. Determining the cost of the Kauen chewable toothpaste tablets will be done by considering various factors in the market, namely, cost of goods (shipping or handling expenses), operation costs (overhead, payroll, marketing and office supplies) (Kleindl 24). The main aim of the company other than satisfying customer needs is to make profits and the retail price will be set at a cost that ensures the company makes profits, and the company will use competitive pricing. The cost of competitor toothpaste companies in the country will also be a determining factor as the company must set a price that will ascertain that it stays above of their competitors in terms of customer base. The retail price will factor in the cost of production and distribution and a price that ascertains profitability will be set. A price of $3.8/50mg, which consists of 60 tablets, is recommended for launching the toothpaste, and 1,000,000 units will be produced at a cost of $2.5million. Compared to competitors such as, Archtek’s Toothpaste Tablets, Lush and Chewable Toothpaste Tablets Berry by Childlife, Kauen chewable toothpaste tablets will have a lower price as they all have set an average price of $4.5/50mg.
Only two middlemen will be used, and these are wholesalers and retailers, hence this assures that the price is not set exceptionally high before the product gets to the consumers. Distribution will be through company trucks, which will operate on a daily basis and this expense will be factored in on the cost of the toothpaste in the market. Wholesale price for Kauen chewable toothpaste tablets will be at $3.5/500mg, price to retailer 3.6/50mg, and retail price will be a maximum of $3.8/500mg.
The retail price is set at a cost that retailers are willing to pay as it is far below the prices of competitor chewable toothpaste tablet companies. The price will ensure that the company stays above its competitors as it is aimed at attracting new customers and retaining them. The retail price also considers the low income earners as it is set at an average level, which ensures that consumers are willing to pay for a quality product, which is sold at a low price.
Work Cited
Kleindl Brad Alan. International Marketing, 2006. Belmont, CA : Cengage Learning. Read More
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