12 May DO YOU THINK IT IS/WAS A GOOD STRATEGY FOR THEM, AND WHY?
For each question 200 words.
Discusion one
think of product launches from the last several years, and identify an example of a product that you think had a clear-cut pricing strategy. Do you think it is/was a good strategy for them, and why?
Note: The best way to go about this is to choose a favorite brand/product and try and recall their prices over the years. You can then try and identify the pricing tactics used.
E.g. the Amazon Kindle was priced very high (almost $400) when it was introduced in 2007 (price skimming). They also used odd-even pricing ($399 instead of $400). As the number of competitors increased, and with negative publicity about their manufacturing costs, they reduced prices to enter the mass market (penetration strategy). Now they have several variants at different price points (price lining), hence when they introduce a new version, they have to think about profits for the entire product line, not just for each product (product line pricing).
Discussion two
You may have seen examples of pricing that seem to be designed to confuse consumers, and other pricing tactics that just seem unfair (for both consumers and smaller competitors). Discuss at least one real-life example (from your perspective) of this kind of tactic (use appropriate marketing terms/concepts as discussed in the book).
For this paragraph reply in your opinion at least in 125 to 150 words.
Hi Class,
This week I decided to talk about Gas stations and how sometimes their price broad uses certain marketing scams to confuse customers. Have you ever noticed that if you ever see two gas stations diagonal from each other they are at constant price battles? They either suffer from loss-leader pricing by taking off a couple of cents to bring more people in. Or they will use very small fonts right under the price so you don’t really see it making you think it’s the price per gallon ( which I like to considered price deception if you ask me). Although in reality, they use the bundle pricing technique where in order for you to get the price you see you have to buy a car wash too. I myself fall for these techniques all the time especially when I don’t pay close attention. I would like to say i am a price sensitive consumer especially while in college because I don’t really have the chance to work as much as I like. So therefore, when I realized that I have fallen for these tactics after learning about all them really makes me feel like a sucker. Has anyone else fell for any of these “gas station traps” before?
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