02 May QuestionMarketing mixPricing of technologically Enhanced Discharge System:
Question
Marketing mix
Pricing of technologically Enhanced Discharge System:
For the purpose of gaining the trust of the targeted customer of the product, I will make use of price leading strategy in marketing the product. The system however complex will have a price much lower than the existing systems, although sometimes I will adopt the Barometric model in price leading. Under this, I will automatically lead the marketing having identified the requirements of the market ahead of my competitors. This will definitely force the product competitors to lower their price to the level where my product will be ranging. However, my product having added features over that of competitors, the product will be actually will always be having a competitive advantage in the market (Armstrong et al. 2015).
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