16 May HOW ARE COMPETITIVE PRODUCT/COMPANIES PRICED IN RELATION TO YOUR PRODUCT AND COMPANY?
The product is called (Coco Berries(strawberries in a package that has chocolate injected inside the strawberries) : The product is to be sold in California, USA(so look for local competitive companies).
Price:
– Identify the appropriate price strategy or strategies that should be used for the product
– How are competitive product/companies priced in relation to your product and company?
– Are prices for competitive products and your product different depending on where they are purchased(i.e: different stores, online, etc.)
– What pricing methods would you implement with this product? Would you offer price discounts or rebates? If so, how would that affect your bottom-line profitability?
– Describe how your pricing strategy and set price will determine your market segmentation and overall target market.
– Describe how your pricing strategy will affect the brand image of your product. And will your price give your target market “value” for their money?
– The price startegy of transporting, storing, and inventory.
– And any other pertinent information you deem relevant.
– (Use direct quotes, Basic marketing textbook(9th edition), and key(real-life) examples to support your statement)
– Citations
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