Compare your brands price range with two competing brands

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Reference no: EM133768780

Question: In this module, you examined pricing strategy, a part of your brand's marketing mix. Brands use pricing levels to communicate product value with customers, and in this way, pricing strategy becomes an essential part of the marketing mix.
In this assignment, you will examine your brand's prices and evaluate the pricing levels in comparison to the competition. You will do so by selecting a key product category, and analyzing how the price range in this category compares with two direct competitors. For example, if your brand is Chanel, you can compare the price range of Chanel handbags with Louis Vuitton and Gucci.

Create a visual presentation, using a visual presentation software, including the following information:

price range: Select a major product category for your brand (most popular products from the brand, such as denim, sneakers, leggings, jackets, and so on). What is the lowest price in the product category? What is the highest price in the product category? Include images of the cheapest and most expensive products.

competitor pricing: Select two direct competitors for your brand. Remember that competitors should have a similar pricing level and cater to the same customer segment. Find the lowest and highest prices that your competitor offers in the same product category. Add product images.

price comparison: Compare your brand's price range with two competing brands. Does your brand offer lower, higher, or similar prices? How would the brand's pricing be perceived to their target customers? Explain why.

pricing strategy: Which pricing strategy does your selected brand use, in your opinion? Remember to use terminology from the module, and add relevant imagery to demonstrate your opinion.
9.2 What Does the Price Tell You About a Brand?
Remember a time when you were introduced to a new brand you didn't know about. How did the prices of their products or services affect your perception about the product and service, as well as the brand? Share your experience with specific examples.

Reference no: EM133768780

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