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Importance of pricing in marketing strategy
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Importance of pricing in marketing strategy
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In this essay I would like to explore the various ways consumers both private and business view the market for printers and associated goods, be it price, performance, practicality or athletics. Then I would like to look at how retailers and producers conforming their products and marketing techniques in order to operate effectively in a saturated market.
First we need to look at what it is that consumers are looking for in a printer in order to assess how we can market these products and the functionality that they require. The cheapest and most basic printers are of the ink jet variety, using black ink only these start from around twenty to thirty pounds.
The next price bracket thirty to fifty pounds will see you get a colour printer with much better black and white resolution, with the capacity to print average looking pictures, sometimes a basic image scanner, but with better efficiency and reliability. We can talk about why companies are able to mass produce these cheap printers further along but for now we can continue along in my market research.
The next bracket of fifty to one hundred pounds is where most consumers will find themselves in the market looking to purchase at, these usually consist of all in ones and where we see wireless printing starting to appear. These ink jet printers usually have far more features than their lesser counterparts, now we also start to see monotone and basic three colour laser printers appear, which can produce higher quality text quickly in larger quantities and using far less ink than jet printers, furthermore in this price range you are likely to find printers with the ability to auto-duplex which is to say that these printers have the ability to print double sided on sheets of paper wi...
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...rom http://www.makerbot.com/blog/2013/06/08/100000th-thing-on-thingiverse/
Hewlett-Packard Development Company, L.P. (2010). Are remanufactured/refilled toner cartridges a better value? Retrieved 25/01/2014, from http://h20423.www2.hp.com/program/toner/sg/en/toner_cartridge_refill.asp
Epson America, Inc. (2014). Expression & Artisan Printers. Retrieved 26/01/2014, from http://www.epson.com/cgi-bin/Store/jsp/printers/Expression-home-photo-printers/index.do?BV_UseBVCookie=yes
Sugget, P. (2014). Loss Leader – Definition Of The Term “Loss Leader”. Retrieved 25/01/2014, from http://advertising.about.com/od/advertisingglossary/g/Loss-Leader-Definition-Of-The-Term-Loss-Leader.htm
Copyform Business Systems. (26th January). Copyform Home Page. Retrieved 26th January 2014, from http://www.copyform.co.uk/index.php - See more at: http://reffor.us/index.php#sthash.NUDG108J.dpuf
Their committing strategy to provide excellence in customer service and deliver quality products has brought them leading market share in the industry. Konica is providing them with quality products at competitive prices enable them competition within the market along big names like Xerox, Sharp and Canon. Customers base their purchase primarily on service and dealer reputation and Daytun's commitment to these factors has helped them grow in the market. The industry is maturing and future growth opportunity within London is under question. Competitors are aiming to increase market share through aggressive pricing, which can, consequently affect Daytun's sales (See Exhibit 2).
· The sizes , number of pages , area of print and cost of different
The organization accepts that customers who truly think about quality are eager to pay that bit more to acquire it and see 'the additional items' as worth the extra cost. Today the organization works in an extent of European nations and in additi...
Johannes Gutenberg who was a German goldsmith, developed the printing press “in Mainz, Germany between 1446 and 1450” (Ditttmar, 1133). The printing press was made to print books, newspapers, and flyers. The machine was made from wood and was based off screw presses, that worked with inked movable type heads that allowed the paper to be quickly and efficiently pressed with letters. The type head was made by pouring a
Suttle, R. (2013). Definition of Pricing Strategy. Retrieved November 16, 2013, from Houston Chronicle: http://smallbusiness.chron.com/definition-pricing-strategy-4686.html
While there are different ways of optimising your pricing strategy, this guide will explore one of your options: value-based pricing. We’ll explain what value-based pricing means and the benefits, as well as downsides to using this strategy. We’ll then provide you a simple four-step guide to determining value-based prices.
Price: Price must be consistent across the marketing mix and meet all requirements for your business. You need to price your product range at the correct level for the customers to be able to buy your products, and for them to gain value from your products. This could mean pricing high or low — this very much depends upon your customer
Our design and features are environmentally friendly products, energy-saving, resources-saving construction, high precision technology, printing email, documents, photos wirelessly by using smart phone to link it together with R&W Printer. Now, consumers can experience the power of printing mobility today! Consumers can enjoy the ease of printing their documents anytime, anywhere. This makes R&W Printer outstanding and prominent compared to various companies with their latest products. R&W Printer did numerous research and surveys to actually get the correct buyer for our products.
Imagine printing what ever it is you need from your own office or home. In addition to that, you will have full control customizing the product and the printer will have no difficulties achieving your designs. All you have to buy is the ink and the material additives and the printer will do the rest.
Cooper, Dr. Anthony. "What Is Advertising?" What Is Advertising? University of North Carolina at Pembroke, 2013. Web. 15 Jan. 2014.
Dell, Tyson, Samsung, and watermelon farms purchase boxes to ship their products to stores and occasionally directly to consumers. Grocery stores and fast food restaurants purchase paper sacks to hold the customer’s goods. McDonalds and Starbucks acquire the coffee cups directly from the manufacturer. Cutsize paper is purchased and distributers, like Wal-Mart, Staples, and Office Max, break the pallets and sale individual reams and cartons to consumers. The vast majority of the buyers of paper are major customers, and they often prefer generic products; therefore purchasers have tremendous bargaining power. Manufacturers attempted to raise prices in the mid 2000’s, but they met with strong opposition and the efforts failed (“Paper business in mature”’, 2013). Even when manufacturers shifted modes and found methods to produce paper more cheaply by increasing productivity as much as 30%; buyers demanded, and received lower prices from the
The nature of the business of retailing puts retailers at a assumed risk of incurring costs because products are bought with the assumption that consumers will purchase. Additionally there are external factors that may also pose risks such as natural disasters, theft, spoilage and fire. In other circumstances retailers also extends financial credit to customers in the form of credit sales which facilitates the smooth transition from retailers to the marketplace. Retailers are in constant contact with customers which gives them the opportunity to research and study buyer’s behaviour. This involves collecting information about changes in customer preferences, perception and shifts in the demand curve. Through advertising within their stores retailers are able to exhibit and introduce existing and new products to the marketplace. Ultimately retailers are in the business of selling products to customers to achieve their goals of generating
Consumers may purchase such technology for varying different prices, which greatly depend on the application in which the unit is to be used as well as the many different types of functions that are available to the market. For instance one may purchase a marine gps unit for their boat that has a mapping capability along with sonar (depth/fish finder), the cost of such a unit can vary greatly by manufacturer as well as region and whether or not it is a color unit or a monochrome unit, color being the more expensive. Other factors that play into cost of units are their application alone; aviation ...