If any of the previous alternatives for entering the market are chosen, one other consideration to take into account is the pricing strategy. If Mercan Systems chooses to enter the market, they can either use a price skimming or a penetration pricing approach. When using price skimming and selling through dealer channels, the basic module would be priced to the dealers at Rs. 5,500 and to consumers at Rs. 5,900. This would give Mercan Systems an estimated Rs. 650 unit contribution. If a direct salesforce is used under the price skimming method, the pric...
... middle of paper ...
...75,000. In addition to this goal, Mercan Systems should also strive to increase their profit margin by 15% by the end of their second year with a consistent growth of 25% every year for the next three years after (see Appendix C for Profit Projection). Mercan Systems should also strive to increase their brand awareness and recognition by 15% during their first year of the joint venture. This can be measured through external research and more specifically, focus groups. These focus groups would consist of random samples from the population. Participants would be asked questions regarding identifiability of Mercan Systems’ products as well as their organization as a whole. Based on the research gathered, they can measure and make sure that at least 15% of the random samples are aware of their company and water purification products after their first year of operations.
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