Responsible for setting new price for this product

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Reference no: EM131822281

Assume you are the product manager for Coca-Cola Classic; the close competitor (Pepsi) has just dropped their price 20% on their competing product offering (Pepsi). You are now responsible for setting a new price for this product and writing a new formal price plan. Following the six-step Setting the Price model:

1. Selecting the Pricing Objective

2. Determing Demand

3. Estimating Costs

4. Analysing Competitors costs, prices, and offers

5. Selecting a pricing Method

6. Selecting the Final Price

Write a formal price plan using clear, insightful critical thinking.

Reference no: EM131822281

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