Price discrimination

Tannner & Raymond (2010) make reference to a style of marketing known as the ‘four P’ principle, these being ‘product, price, place and promotion’. Indeed, Tanner and Raymond (2010) state that, “introduced in the early 1950s, the four Ps were called the marketing mix, meaning that a marketing plan is a mix of these four components” (p.5) but they also contrast this against a newer and more encompassing style of marketing referenced as the ‘value approach’, whereby value is created, exchanged,…

Marketing Realities “The science and art of exploring, creating, and delivering value to satisfy the needs of a target market at a profit” (Philip, 2017). Marketing identifies unfulfilled needs and desires. It defines measures and quantifies the size of the identified market and the profit potential. “It pinpoints which segments the company is capable of serving best and it designs and promotes the appropriate products and services” (Philip, 2017). Nowadays, major, and some of the time…

Wine pricing strategy Businesses use various strategies in calculating the price of a product or services. These various methods of establishing the price of a commodity are referred to as pricing strategies. A commodity or service’s price can be set with an objective of maximizing profit related with each unit or the price of the commodity can be sold at market price (Smith, 2012). A business can lower or even increase the price of a commodity; this is done in relation to customers’ behavior…

In order to cope with the pressure of wide range of products with high quality in the market, the concept of "leagility" that combines lean and agile strategies was introduced for the companies (Lemieux et al., 2015). The common goal of the lean and agile supply chain strategies is to meet the customers’ demands at the lowest cost possible (Qi et al., 2007). Although the prerequisite for agility is to be lean, the desire to use low cost and high flexibility simultaneously might result in a…

The Little Dreamer is one great mattress. It comes with an affordable price tag but it provides all the necessary safety features your baby needs to sleep comfortable. If you are looking for an economic product which is currently advertised as the safest of its market range, this is the item to purchase. It not only provides a safe sleeping environment but it is also comfortable because of the foam which fills its interior. It can be used either on the infant side or on the toddler side. It also…

hand some firms may deliberately raise the prices to convey that their product is of high esteem value. In both cases, the pricing strategy has to match the total marketing strategy, that is, for pricing the product higher, the product quality should also be good. The firm may also give a more attractive packaging, re-launch the product or add more features to justify the price rise. • Product Differentiation Product characteristics also determine the price of the product. Marketers provide…

Porter’s five forces model helps to determine an industy’s attractiveness; I will use the model below to indicate how this affects the Virgin Active South Africa Group. Rivalry among competitors: The competitive rivalry in this industry is low. There are few smaller competitors and although Virgin Active fees are market standard, there are no major players that can influence membership fee cuts. Planet Fitness (Who are considered their main rival in South Africa) have a very similar pricing…

elsewhere to benefit more B & G Shoprite. A Close Shave has been priced at double the price of the existing shaving foams in the market resulting to only 30% target sales. With the use of market segmentation, B & G Shoprite will be able to develop the effect price of the product in line with the targeted market segments. Each market segments has its own perception to the price, hence it's essential to differentiate price strategies for each targeted…

The Hammer and Hanging Man patterns look similar. They both have small bodies, long lower shadows and very short upper shadows. The difference is that they have different effects based on previous prices. The Hammer is a bullish reversal pattern. It appears after a decrease in prices and may indicate a trend reversal. For instance, after a rapid decline, they indicate a bullish revival. The Hanging Man is a bearish reversal pattern. It can indicate a resistance level. It gives a sign to…

have. In a clearance sale, the selling price of the product takes with the fading of the fashion or the season, and allows the seller to official excess goods into the market. In the study, we undertook the study of Attitude towards Clearance Sales of Liked and Disliked Brands. The study yielded five factors of the attitude towards clearance sales of liked and disliked brands. These factors were Excitement, Brand Preference, Brand Opinion, Leadership, Price-Image Sensitivity and Peer Influence.…