Overview
Review this week's video: The Marketing Mix and Pricing StrategiesLinks to an external site.
Using a product that you regularly purchase as the example (any good or service that is different from your Course Project and the examples used for your Weeks 1 or 3 Video Analyses), write a one-page summary that answers the following four questions:
What is the company's pricing strategy for the product you chose (market skimming, market penetration, or price adaptation)? Do you think this is the most viable pricing strategy for the product?
Does the pricing strategy reflect the value? If so, explain the value that you perceive, and if not, explain why you think the pricing does not reflect the value.
Which potential buyers are likely to be motivated by or dissuaded by the product’s pricing and why? Do you think another pricing strategy would capture more market share? Why or why not?
How much control do you think the company has over pricing while remaining competitive, and what would your recommendation be for either maintaining the same pricing strategy or adapting to another pricing strategy?