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Pricing And Frequent Promotions. A major consideration in business from both the
manufacture’s and customer viewpoints is and has always been the price. ...
... in the retail industry, decisions about merchandising, pricing, and promotions have
been ... This approach places a premium on frequent, informal cooperation ...
... The central distributors expected frequent trade promotions and stocked up on inventory
during the promotional periods to benefit from the favorable pricing. ...
... expects to achieve the following pricing policies. ... are already members of Frequent
Traveller Programs ... rewards among the services Promotions managers supervise ...
... to evaluate, fine-tune, and shift their approaches to price promotions. ... from low
variation such as in every day low pricing, to frequent variations such as ...
Submitted by roya1 on April 20, 2008
Category: Business
Words: 1919 | Pages: 8
Views: 92
Popularity Rank: 93,365
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A major consideration in business from both the manufacture’s and customer viewpoints is and has always been the price.
The issue discussed here is” should the retailer practice “everyday fair pricing” or engage in “frequent price promotions”? Is it better for a brand to raise its regular price and offer price promotions or is the brand better off offering lower regular price with limited price promotions?
In my paper I will support and argue for setting the right price, which in other words make shoppers feel they are getting a fair shake from the businesses they regularly patronize.
Importance of setting the Right Fair Price
Pricing strategies are important criteria which affects the overall success of the company. The price set is simply not a financial issue but a marketing issue that determines how the product is positioned and how the market (customers) perceives the product.
Pricing is a challenge with different implications at any stage of the business cycle, whether you are setting the prices for the first time, raising or lowering existing prices, or determining how to react to an unsteady economic climate. Overprice and you will risk losing your business to your competitors. Under price and you may inadvertently devalue your offerings.
Tom McNeil, President of Executive Career Resource Group, Wellesley, MA describes the implication of price:
1. “Your price is too high, and you knock yourself out of the game.
2. Your price is much less than the client was prepared to pay, and you lose money.
3. Your price is much less than that of your competitors, and you are perceived as offering less value.
4. The client accepts your price but then decides that your services aren't worth it, because you haven't convinced him or her of your value.”
Fair Pricing is to be viewed from two perspectives:
“From a consumer...
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