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Importance of price in marketing strategy

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Reference no: EM133053360

Importance of Price in Marketing Strategy for Victoria secrets

1. What role does pricing play in the marketing of products of this kind?

2. Factors that Determine/Influence Pricing Strategy.

Are there external constraints on pricing that force all companies to charge similar prices or do they have a good bit of freedom?

3. Common Pricing Strategies in the Industry

Do they price low to increase customer volume?

Do they price high to recover development costs and get more margin?

Does price communicate status or does status not matter for a product of this nature?

Are prices in this product category priced differently for different customer markets?

Is pricing different in overseas markets because of differences in economy?

This section answers the question of how products in this product area are promoted and why.

1. Factors that Determine the Promotion Mix:

How do factors like tangibility, customers' goals for buying the product, and other factors determine the promotion mix?

2. Promotion Mix Elements:

What role do personal selling, trade shows, sales events, new products released every year, etc. play in promotion efforts?

3. International Marketing and Media Availability

Does media availability change the way the product is promoted in other countries?

4. Impact of Online/ social media

How has online and social media changed the way these products are promoted?

Reference no: EM133053360

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