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Essay / Research Paper Abstract
This 9 page paper looks at different issues that need to be considered when looking at marketing. The paper outlines pricing strategy, buyer behaviour, branding, segmentation of the markets and product positioning. The bibliography cites 10 sources.
Page Count:
9 pages (~225 words per page)
File: TS14_TEmaris2.rtf
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Unformatted sample text from the term paper:
the profit to the company. However this is not true, it is were companies such as Rolls Royce and Porsche would be bankrupt and Heinz would be one of the
wealthiest companies going. Pricing is a part of the marketing mix, but can also be used strategically. This is not merely a matter setting a price that is competitive, that
under cuts or that indicates a premium product, pricing is also a strategy with the need for specific goals to be realised. In
mature industries there will already be existing price structure in place, but for new products there will be the element of flexibility (Grant, 1998). The position of a product will
also dictate the price band in which it should place itself, with budget brands at the bottom end and premium brands at the top. The key in pricing is to
give the customer the perception of value of the goods for the price they are paying. This is also a potential source of competitive advantage for a company if the
are able to add on additional differentiated features and charge a higher price as a result increasing profit (Kotler, 1999). There are
different pricing strategies. Looking at a restaurant chain such as Brewers Fair, this is a long established restaurant, the pricing strategy as a whole may be seen as value driven
and one that seeks to use promotional pricing to attract new customers and also retain customers. If there are promotional prices that are low the perception of value may be
given to the customers and although these may be loss leaders, meaning that they do not create any profit, they are likely to stimulate other purchases on which this loss
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