Test of a new pricing strategy for orange juice concentrate

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A. Design a test of a new pricing strategy for orange juice concentrate. The brand is an established brand, and we are only interested in testing the effect of a 5 percent price increase and a 5 percent price decrease. All other elements of the marketing mix will remain the same.

B. A national value-priced hotel chain needs to understand the business impact of including a free buffet style breakfast to guests. Design and justify a test organize each scenario using the following headings:

1. Objective of Test-Market:

2. Variables: Identify the main IV(s) and DV(s)

3. Control Variables: Identify these and explain why you need to control for them.

4. Test procedure details and justification: (briefly describe the plans to carry out the test. What will consumers do? What will the company do? How many test markets? How long should it last for? What are the associated costs? What information do you need to obtain to help answer the question of interest?) Be sure to justify your decisions.

Reference no: EM132468344

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