What pricing strategies would you recommend, Business Management

Assignment Help:

Question:

Price is the only element of the marketing mix which generates revenue, the other elements being all associated with costs. Hence its determination is crucial for any organization.

The determination of the price of a product does not rest solely on the marketing manager. The views and reactions of several stakeholders must be taken into account. Price determination is therefore not a simple task, owing to the many variables that need to be considered.

(a) Suppose you are the marketing manager of a beverage company, UB Limited. The company is about to launch a new brand of cold drink in the local market. As a marketing manager, discuss the steps you would take in determining the price of the new product and all the factors that you will consider in the formulation of its price.

(b) What pricing strategies would you recommend for the launching of this new cold drink?


Related Discussions:- What pricing strategies would you recommend

Case study of competent motors limited, 1.Whom do you think Rajinder will e...

1.Whom do you think Rajinder will eat with? Why? 2.If you were one of the other foremen, what could you do to make Rajinder''s transition simpler? 3.What would you have done if you

Illustrate the term accounting, Illustrate the term accounting? Accou...

Illustrate the term accounting? Accounting: It is an art of classifying and recording data. Here, the data considers to transactions consisting of monetary or financial v

What is matrix organisation, What is Matrix Organisation? Matri...

What is Matrix Organisation? Matrix Organisation: This organization is used while an organization has to handle several of projects, ranging through small to huge.

Explain the step in developing a global outsourcing strategy, List and expl...

List and explain the seven steps in developing a global outsourcing strategy. Seven steps in developing a global outsourcing strategy - Segment the marketplace, Project change

State steps in the planning process, Question: (a) Managers, engineers ...

Question: (a) Managers, engineers and experts often plan their actions before acting upon any issue. But planning is successful, only if, there are appropriate control proces

What type of material use in promotion of productivity, What type of materi...

What type of material use in promotion of productivity? Material in promotion of productivity: a. It must be change of design of component b. It must be useful in proc

Purchasing and supply management, steps in the process of evaluating the pu...

steps in the process of evaluating the purchasing and supply

What is ramsay pricing, It allocates costs based on the price elasticity of...

It allocates costs based on the price elasticity of demand. Yet higher the elasticity (elastic), the lower the charge of fixed costs when allocated amongst products.

The five steps in evaluation process of the purchasing, Five steps in the p...

Five steps in the process of evaluating the purchasing and supply system

How to handle conflict within organization, Question  1: (a) As a manag...

Question  1: (a) As a manager, describe in detail how you would proceed with the introduction of new technology in your organization. (b) Describe the various strategies tha

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd