ipl-logo

Mkt101 International Marketing

697 Words3 Pages

MKT101
Olmsted
Essay Portion- Exam #1
Fall 2017
Hamza Mustafa

Does providing a good value always require that marketers sell products and services at rock-bottom prices? Why or why not? Please give specific examples to document your response.
Ans Providing a good value to customer not always require to sell products at rock bottom prices because every company has it’s own reputation And have their own customers. People love different things about the brand they use and there are different brands according to the quality level of products. People who normally buy expensive things tend to buy them even if they are on the retail price or on sale price. It does require some time when a company is new and want to gain a customer. For example the brand “ North face ” is an expensive brand. People love the quality and buy it usually on retail price and that’s why they don’t usually have sale and they even do not need to gain customers whereas on “ Aeropostale “ whenever i go i saw a huge sign says 40 % or 50 % off to gain customers attention.
There are 4 macro strategies that focus on developing sustainable competitive advantages. Identify and briefly describe each one. …show more content…

In Customer Excellence we have to build and maintain customer loyalty and providing excellent customer service. To the customers and satisfy them. In Operational Excellence we have to achieved it through efficient operations, supply chain management, good relationships with suppliers, and great human resource management. In Product Excellence it can be achieved by proper branding for the product,positioning and creates high perceived value. In Locational Excellence we should have good physical location for the business, and there should be internet

Show More
Related

  • Chuck E. Cheese's Pricing Theory

    498 Words  | 2 Pages

    In the podcast “Chuck E. Cheese’s: Where a Kid Can Learn Price Theory”, Stephen J. Dubner discusses the current violent outbreaks, along with some possible theories. One of his listeners, Nathan Corroy, a financial adviser in Milwaukee, Wisconsin, mentions that a contributing factor may be the pricing strategy. Right now, all the arcade games at Chuck E. Cheese’s cost one token to play, even though some games last longer than others. Thus, Dubner asks an important question “How does the price of a good or a service effect consumer behavior?” (Dubner).

    Read More

  • Trader Joe's Case

    1669 Words  | 7 Pages

    According to Barney (1991), a firm can be said to possess competitive advantage when it achieves superior performance over its competitors by implementing a value-creating strategy that is not simultaneously being implemented by a competitor. TJ is Barney differentiates simple competitive advantage from sustainable competitive advantage, which is more durable because existing or future competitors cannot duplicate the benefits of the company’s strategy. Recommendations and

    Read More

  • Swot Analysis Of Maple Leaf Foods

    859 Words  | 4 Pages

    The utility of this philosophy is clear only demand exceeds offer. Its greatest draw back is that it 's not forever necessary that the client on every occasion purchases the cheap and simply on the market product or services. 2. Product

    Read More

  • Premier Inn Swot Analysis

    1718 Words  | 7 Pages

    The temporary character of competitiveness, which can be lowered anytime. 4. The massive spending on technological advances. 5. The brand image misconception in which low prices are usually associated with low quality product.

    Read More

  • Marketing Strategy: Trader Joe's Business Strategy

    1120 Words  | 5 Pages

    For the business-level, Trader Joe’s adopted a differentiation focus strategy. According to our textbook with this strategy, Trader Joe’s seeks to differentiate in its target market. They rely on providing better service than broad-based competitors. Specifically, they focus on the special needs of the buyer in other segments (Dess, Page 159). Joe’s differentiates its self from other grocers by providing a unique shopping experience fortified with their private label goods and great service from their crew members.

    Read More

  • Swot Analysis Of Apple Marketing Strategy

    3863 Words  | 16 Pages

    1.0. INTRODUCTION Every organization strives to benefit from creating value for its customers, in the most effective way, for the purpose of attaining competitive advantage in the business environment in which they operate. Philip Kotler(2015) defines marketing as “the science and art of exploring, creating, and delivering value to satisfy the needs of a target market at a profit”. According to Hollensen (2003), a strategy is a fundamental pattern of present and planned objectives…”

    Read More

  • Situational Analysis: Product Life Cycle Of Microsoft Office

    811 Words  | 4 Pages

    • Price may need to be adjusted downwards to hold off competitors and maintain market share. : The major pricing decision is whether to set a price above, below or about even with the competitors’ price. This influences Microsoft office to list their product in premium priced list, however, all the other products, which have alternatives in the market, are priced competitively. • Promotion continues to suggest the product is tried and true: Microsoft has a certain amount of promotion, which is mainly used for its premium products which have a large share of the market. Or the promotions are used for products which are in high competition segments like phones with collaboration in other companies.

    Read More

  • Pricing Strategy And The Pricing Strategy: Dyson

    1009 Words  | 5 Pages

    4.4 Pricing Strategy For a number of reasons, price is one of the most important aspects of an effective marketing strategy (Gerstein & Friedman, 2015). First, price is the only marketing variable that generates revenue. Second, buyers see price as an attribute of value (Tanner & Raymond, n.d.). Consequently, an organization must carefully assess its internal and external environment to choose the most effective pricing objective, which—in turn—will drive a product’s initial pricing strategy.

    Read More

  • Case Study Of Apple Inc.'s Diversification Strategy

    1442 Words  | 6 Pages

    Normally, consumers have unique needs that are not similar all the times. Therefore, the company must develop products that can address the unique concerns of the consumers. Evidently, Apple Inc. has been successful in the creating variety of products. However, pricing of the Apple Inc. products tend to limit the ability of buyers to purchase the products. While the company might justify the price of the products, setting the prices too high limits the ability of the willing buyer to purchase the

    Read More

  • Value Proposition Of Fitbit

    1808 Words  | 8 Pages

    This is the comparison of the benefits offered by a company's product to its customers relative to the price it asks customers to pay. To do this, companies can influence the value proposition in one of two ways mainly. This can be done through long term brand building. They can also offer a relatively low cost to enhance value. Ultimately, the key is that customers perceive that the product's merits exceedingly justify its price.

    Read More

  • H & M International Expansion Strategy

    1025 Words  | 5 Pages

    Hennes and Mauritz (H&M) is Sweden based global company in the clothing industry. H&M has over 2600 stores in 43 different countries. H&M is known for their stylish or quality merchandise and its affordable prices. H&M has the aim and goal to provide quality fashion at the best and affordable prices. H&M also has the goal to provide good knowledge and product with good quality of well design, fashion, and textile (Matos, 2012).

    Read More

  • Business Law Essay

    393 Words  | 2 Pages

    Companies are allowed to set their prices as they see fit; however, there are some laws that are set by the government that have to be followed because it is the law. Some of these laws are: price fixing, imposing minimum prices, and selling goods below cost. Price fixing when competing business get together and have an agreement to fix their prices or the charge a certain fee. Antilaws require each company to establish prices on it’s on without having an agreed price with its competitors. These companies can base their price off of supply and demand but not off of a mutual agreement.

    Read More

  • Marketing: Marketing Mix In The Ice Cream Industry

    1497 Words  | 6 Pages

    6.1.2 Price Price is the value or amount that customer pays to buy a product. For instance, for our Star Lab ice cream shop, we need to consider the cost of production of our ice cream, price of our main competitor and our potential customers demographics in order to succeed this competitive market. (C. Breidert, 2007, p.9) 6.1.2.1 Pricing Strategy Pricing strategy that can be used by our company such as penetration pricing, cost-plus pricing, value based pricing and more. But we think that market penetration pricing is the best pricing strategy to be used by our business.

    Read More

  • Four Building Blocks Of Competitive Advantage

    1014 Words  | 5 Pages

    Superior quality and innovation are important to achieving superior customer responsiveness. The ability to satisfy the needs of your customers will allow for your company to stay ahead of your rivals. Customers will be more likely to choose a company if they feel like their voice or opinion is being heard. Another part of this building block is the customer response time. Customers want their products quickly, so ability to deliver the product or service at a quicker rate is important.

    Read More

  • Kfc Pricing Strategy

    748 Words  | 3 Pages

    According to Wisnudewobroto (2011), KFC placed their products for high price but not overly high. However, to compete with other competitors, KFC trickle down their price for only the selected items during mealtime to focus on both middle and lower class people to penetrate both sides of the market. If the product price are too low, it might lead to customer perception that the food have a poor quality, while charging for the product too high price might cause customer to switch their preferences to other competitors. KFC also will take into consideration on the probable reaction from other competitors in the pricing

    Read More

More about Mkt101 International Marketing

Open Document