The target market of Firefly has always been travellers both for business and also leisure. Travellers for both business and also leisure are potential customers of Firefly as it is a low cost airline providing great services. 2.0 Marketing Mix Strategies Marketing mix is a mixture of numerous ideas followed by a marketing representative in promoting a particular product or brand. The elements of marketing mix are often called the four P’s of marketing which are product‚ price‚ place and promotion
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Chapter 11 Pricing Strategies Questions for Discussion 1. Which of the different product mix pricing strategies discussed in the text applies best to Payless’s new strategy? : The strategy for setting a product’s price changes when the product is the part of a product mix. Firms are look for a prices that maximizes the profits on the total product mix. There are five product mix pricing strategies for the firms. Product line pricing‚ optional-product pricing‚ captive-product pricing‚ by-product
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Indomie Pricing Strategy One of the four major elements of the marketing mix is price. Pricing is an important strategic issue because it is related to product positioning. Furthermore‚ pricing affects other marketing mix elements such as product features‚ channel decisions and promotion. In this case‚ Indomie is brand of noodle which was produced by PT Indofood Sukses Makmur‚ Tbk. As a leader of brand noodle‚ Indomie has pricing strategies‚ it product-line pricing. They set different price in
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COMPARING THE PRICING STRATEGIES OF VARIOUS STORES Firstly‚ Wendy’s uses many different types of pricing methods to attract customers to buy their food items. One of the strategies they use is price discrimination (same product sold in different markets at different prices) by offering discounts to seniors for 10% and children with a hamburger Kid’s Meal for only $2.69. Wendy’s also uses promotional pricing (charging a low price to entice customers and to build brand awareness) by presenting discounts
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Case No.07 – Nokia’s pricing strategy Nokia is one brand name that inspires all those who are into the mobile culture. Of the entire brand that touches our lives‚ Nokia stand s out significantly. It has taken mobility a step forward by creating products with continuous innovations in this industry has made it imperative that every player keeps pace with changes. Nokia has been one step ahead in anticipating future market moves and strategizing accordingly. Interestingly the company prices its
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DHL Case 1. Using the EVC framework (i.e.‚ differentiation value)‚ what opportunities exist for price customization at DHL? (In other words‚ where is there value that is not priced out?). Based on the differentiation value‚ the following price customization opportunities exist for DHL. - DHL can charge a premium for its extensive network span and coverage in remote areas that they serve‚ which are not serviced by their competitors‚ like Africa. - Differentiation premium could be charged on
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How Pricing strategies Affected the sales of MODE Accessories backpack Price makes up the one quarter of the controllable marketing mix factors and could be blamed for most company’s success or failure. This report will cover the affect pricing had on the sales of MODE Accessories backpack over a 6-term timeline‚ specifically focusing on the pricing strategy in the growth stage of the product‚ a rise in the market price due to a change in design and how a decision to change the target market
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be taken into consideration prior to a business determining a price for its products and services. Pricing is a key determinant in the decision making process customers use to purchase a product or service. It is important to establish how much the target market will pay for the product or service. The fastest and most effective way for a company to realize its maximum profit is to get its pricing rights. The right price can boost profit faster than increasing volume will the wrong price can shrink
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7: Pricing Contents A. Understanding Pricing 4 1. Internal and External Considerations Affecting Price Decisions 5 1.1. Internal factors 5 1.2. External Factors 9 2. Setting The Price 10 B. Introduction to Apple 13 1. Product 14 2. Promotion 15 3. Place 16 4. Price 17 C. IPHONE 19 1. Introduction to iPhone 19 1.1 Main Features 19 1.2 Market share 20 2. Pricing Strategy of Apple’s IPhone 21 2.1 High Reference Pricing 21 2.2 Penetration pricing 22
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information industry. Moreover‚ the iPhone user base consists mainly of young early adopters: about 75% of whom are previous Apple customers. Now‚ the challenge for Apple is to get their product beyond the youthful technophiles and into the hands of mainstream users in order to maintain sustained growth. While the early adopters are a great group for launching a product‚ without mainstream use‚ the early success would not be lasting. This is why Apple has decided to use different pricing strategies such
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