Market Pricing

557 Words2 Pages
bulb-icon

Recommended: Market price control

Executive Summary Price is said to be the biggest factor in the marketing mix. If the price is not right, then the product will not sell. Consumers feel that they have to get something back, such as an intrinsic value from the products. Pricing is affixed with many different variables such as the flexibility of price, geographic term, discounts and price levels over the product cycle. A marketing manager must also consider what type of pricing objective to use. For this paper, I have made myself the new marketing manager of Foster Farms Poultry Products. Body The objective that I feel is best for this company is profit-orientated. This is because I believe we have established our name in the community and the state. People recognize us as the leader in poultry production. Since the company has remained profitable since the beginning, we strongly believe that all we should focus on now is maintaining the return on our investment. We shall also adhere to the flexible price policy. I say this because the more a store buys, the more they save. If a store buys large quantities, then discounts can be given and this will also increase sales in the store because the stores can charge a bit less for the product. It’s up to the store on how much to markup the poultry. They can charge a dollar a pound or fifty cents per pound. You will also notice that many stores offer the chicken at lower prices when its expiration date is near. This is due to the nature of the product being peri...

Show More
Related

  • Literary Criticism In 'Grendel' By John Gardner

    1611 Words  | 4 Pages

    Throughout John Gardner’s Grendel, the audience bears witness to a creature who has been ostracized by the world around him. Throughout his journey, the stories protagonist tries to live out his own life the way he wants to, despite being labeled as evil by those around him. Due to this constant criticism by his peers, he develops an inferiority complex that he desperately tries to make up for as the story progresses. Throughout his development, Grendel very rapidly moves past his existentialist beginning, through a brief phase of forced skepticism, and into a severely nihilistic point of view.

    Read More

  • Situational Analysis - Chick-fil-a

    1670 Words  | 4 Pages

    The fast food restaurant industry, which includes quick-service and fast-casual restaurants, is highly segmented with the top 50 companies accounting for only 25% of the industry’s sales. The $120 billion industry includes over 200,000 restaurants with 50% of those specializing in hamburger entrees. (hoovers.com 2008) The major competitors in the industry include McDonald’s, Burger King, Taco Bell, Subway, and KFC – Chick-fil-A’s major competitor in chicken sales. Chick-fil-A’s unique position in the market, specializing in chicken-based entrées, has lead to a competitive advantage which the company has been able to capitalize on. Recently, many competitors have added chicken entrees in order to compete in the market segment. Through marketing strategies and company initiatives, Chick-fil-A has tried to stay distant from competitors, offering a fresh alternative to the ordinary fast food restaurant.

    Read More

  • Analysis Of A Couple Of Squares

    864 Words  | 2 Pages

    A couple of Squares has a limited capacity for which to produce their products and smaller companies tend to have larger fixed costs than bigger companies. Therefore, A Couple of Squares must maximize profits in order to ensure that they will stay in business. A profit-oriented pricing objective is also useful because of A Couple of Squares’ increased sales goals. A Couple of Squares increased their sales goals due to recent financial troubles. Maximizing profits is the easiest way to meet these sales goals due to the fact that A Couple of Squares has limited production capacity. The last key consideration favors a profit-oriented pricing objective because A Couple of Squares offers a specialty product. A specialty product often has limited competition, therefore can be priced on customer value. Pricing at customer value will maximize profits as well as customer satisfaction. A Couple of Squares’ lack of production capacity, increased sales goals, and specialty product favor a profit-oriented pricing

    Read More

  • How Did The Americans Want To Build The Panama Canal

    263 Words  | 1 Pages

    The Americans had to overcome a lot during the making of the Panama Canal and even before it was built it had problems. Theodore Roosevelt wanted the land for the Panama but Columbia didn’t want America to take that land. Even though they offered money they still didn’t want to sell it. So now that they couldn’t buy it from them America was going to have to fight for it. Columbia during the time had a rebellion stirring in their midst. The rebels wanted to break off from Columbia and become a new state called Panama. America saw their chance to build the canal.

    Read More

  • Dynamic Pricing Case Study

    704 Words  | 2 Pages

    The focal article I chose is Dynamic Pricing: The Future of Ticket Pricing in Sports by Patrick Rishe published on January 6th, 2012 through Forbes. Pricing is an important component of the marketing mix because it is the element where managers have expectations of customers paying their money to the organization (Kopalle, 2009). Compared with other elements of the marketing mix, pricing has the advantage because there is a high level of flexibility. The flexibility is because prices change continually (Smith, 2008). The opportunity of quick price changes also has disadvantages. For much of the 20th century, the vast majority of sport managers employed one of two pricing strategies: the one-size-fits-all approach, where every ticket price

    Read More

  • Research Paper On Pediatric Dentistry Kahala

    307 Words  | 1 Pages

    Dental Procedures Explained: Dr. Hirai and his staff are very familiar with anxious children. This is why they do their best to break down the pediatric dental procedures that they will perform in a positive and pleasant manner during your

    Read More

  • Analysis Of Summer Breeze Lemonade

    723 Words  | 2 Pages

    These factors include marketing objectives, government regulations, customer perceptions and market demand. Business owners must understand these different techniques to determine the best value for their products. There are nine most recurrent methods that are used today such as Cost Based Pricing, Value Based Pricing, Optimal Pricing, Penetration Pricing, Loss-leading Pricing, Participative Pricing, Auction Pricing, Free and Premium Pricing and Price Adjustment Tactics. Customers must be thought about considerably in deciding the best pricing method. If the product is easily made, the business would not be able to charge at a high rate. If the business owner is disposed to pay the set price, it should not be a problem for the customer to pay that price. A drink from a lemonade stand should be inexpensive to magnetize cash paying customers. Resulting in obtaining a steady and incrementing demand for the item. Value Based Pricing is the best method for this product because it is built from a consumer’s cognizance of the cost to acquire a specific product or

    Read More

  • The American Dream in Arthur Miller's Death of a Salesman

    456 Words  | 1 Pages

    Willy's goal throughout life was to climb out of his social class. As a salesman, Willy was a failure and he tried desperately to make his sons never end up like him. As a result, he loses his mind and his grasp on reality. Throughout the story, Willy often has flashbacks of the conversations that he and his brother Ben once had and the author intertwines them in past and present very nicely.

    Read More

  • Nature Vs Nurture

    522 Words  | 2 Pages

    When we born, we all are like a blank slate (Uzgalis). Then, why are we the way we are? How the slate is filling? This answer will lead us to consider the decades of debate, nature vs nurture. In this age-old debate, scholars are trying to figure out whether it is nature or nurture influences and affects individual's development. Nature is heredity or genes that we get from our parents and nurture is our environment. We can't ignore, we share the DNA from our parents, but it is the environment that is filling the slate and shaping us. Again, environment is brighter in describing the shaping of a person because a person is a reflection of the environment of which they were brought up in. Here, environment refers to the experience, information, and knowledge that we acquire from our family, peers, school, neighborhood, and of course, from the media throughout our lifespan. So, I think, nurture has more influence on who we are and will be because our personality, behavior, values, and ideals are not born, but made by the environment around us.

    Read More

  • Strategies to Make a Fast Food Restaurant Profitable

    1112 Words  | 3 Pages

    A fast food restaurant will have to have a good pricing strategy in order to ensure that competition does not push the firm out of business. This will ensure the restaurant remains competitive. For effective management of cash inflows, the management will require to create an environment whereby each item has been priced conspicuously and reflecting the cost of bringing the same to the table as well as the profit margins targeted by the restaurant (Mark 1998).

    Read More

  • Shakespeare's View On Love

    1955 Words  | 4 Pages

    Because of this confusing love triangle, some of the characters seem to view love as a curse. They also claim to suffer painfully from being in love or from the “pangs” of unrequited love. In Act 1 scene 5, Olivia describes love as a “plague” from which she suffers terribly. In Act 1 scene 1, Orsino depicts love dolefully as an “appetite” that he wants to satisfy and cannot. Another example of the characters not “liking” love is in Act 2 scene 2 when Viola says “My state is desperate for my master’s love.” This quote relates to the violence in Act 5 scene 1 when Orsino threatens to kill Cesario because he thin...

    Read More

  • Supply And Demand

    1824 Words  | 4 Pages

    The market price of a good is determined by both the supply and demand for it. In the world today supply and demand is perhaps one of the most fundamental principles that exists for economics and the backbone of a market economy. Supply is represented by how much the market can offer. The quantity supplied refers to the amount of a certain good that producers are willing to supply for a certain demand price. What determines this interconnection is how much of a good or service is supplied to the market or otherwise known as the supply relationship or supply schedule which is graphically represented by the supply curve. In demand the schedule is depicted graphically as the demand curve which represents the amount of goods that buyers are willing and able to purchase at various prices, assuming all other non-price factors remain the same. The demand curve is almost always represented as downwards-sloping, meaning that as price decreases, consumers will buy more of the good. Just as the supply curves reflect marginal cost curves, demand curves can be described as marginal utility curves. The main determinants of individual demand are the price of the good, level of income, personal tastes, the population, government policies, the price of substitute goods, and the price of complementary goods.

    Read More

  • Case Study Of The BCG Matrix

    1003 Words  | 3 Pages

    Once the product is accepted the organisation would experience a high growth rate. For example, PAX Yogurt Company which originates on Mount St. Benedict, is a local company which developed seven different flavours of yogurt into the market, they are: almond, guava, passion fruit, pineapple, soursop, strawberry, natural (plain) and vanilla. The primary objective was to meet the customers’ needs with a good quality product at an affordable price in order to return high sales and profitability for the company. It is imperative at this stage, that particular attention should be placed on creating strategies for pricing, place or distribution and promotion so as to establish a market presence and create a suitable demand for the product. Pricing strategies include price skimming and price penetration. It is advisable at this stage to employ the price skimming strategy for example, pricing the product at the highest point possible. Prices can then be lowered when demand starts to

    Read More

  • Disguises and Mistaken Identity in Twelfth Night

    1368 Words  | 3 Pages

    Throughout Twelfth Night, disguise and mistaken identity works as a catalyst for confusion and disorder which consistently contributes towards the dramatic comic genre of the play. Many characters in Twelfth Night assume disguises, beginning with Viola, who disguises herself as a man in order to serve Orsino, the Duke. By dressing his protagonist in male garments, Shakespeare creates ongoing sexual confusion with characters, which include Olivia, Viola and Orsino, who create a ‘love triangle’ between them. Implicitly, there is homoerotic subtext here: Olivia is in love with a woman, despite believing her to be a man, and Orsino often comments on Cesario’s beauty, which implies that he is attracted to Viola even before her male disguise is removed. However, even subsequent to the revealing of Viola’s true identity, Orsino’s declares his love to Viola implying that he enjoys lengthening the pretence of Vio...

    Read More

  • Mr Price Strategy

    1108 Words  | 3 Pages

    As stated in the 2016 Annual Integrated Report Mr Price Group must focus more on their 5 pillars of strategy which are; growth, building loved brands, operations, people and sustainability.

    Read More

More about Market Pricing

Open Document