Examples Of Pricing Strategy

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PRICING STRATEGY In order to make sure the business operates smoothly as what have been planned, marketing strategy is really matter as it will affect the way we run the entire business. Most of successful businesses have a clear tactics that make the business remain ahead in the market place. Effective pricing strategies keep the company to generate the turnover of operating the business. Pricing strategy is one of the important elements that will determine the loss or profit sales of the business. As for DinoSalad, we have focus on three main strategies of pricing which are penetration pricing, psychological pricing and product line pricing in order to generate as high a margin as possible for our salad-based menu. We have come up with…show more content…
For example, we will set the price RM 12.99 instead of RM 13.00 for one bowl of salad. The idea is that we want to approach the customers and convince them to try our salad-based menu as they assume that the pricing for the salad are actually cheap. The reason why the method really works is because customers will still say that the price for one bowl of salad is below RM 13.00 even though it is one ringgit away. Pricing is important for the company to position their product in the market segment and so, the company needs to consider how their price will affect and be affected by the marketing strategy. This is because the price will have the key impact on the product development depend on the company whether they want to maximize their profit or loss. We only focus on the three methods because it help our company to set the pricing range in a proper manner especially for us who are starting a small business first…show more content…
As for DinoSalad, we have come up with the idea to create unique promotional strategies that are different from other competitors so that we can attract more customers to try our healthy salad-based menu. The company will set up a unique brand image for the salad franchise and promote its popular products in order to increase its reputation in Malaysia. We have decided to promote our business as well as our salad product through advertisement, sales promotion and charity because we believe that the strategies we chose is effective as it will let the market know that the company is prepared to serve high quality of food for the society and it will indirectly ensure the success of the

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