Innovative Service Pricing Explore one highly successful business model based on innovation service pricing and/or revenue management strategies, and choose another, one, business model that failed because of major pricing or revenue management strategy issues. What lessons can you learn from your analysis of these successful and unsuccessful pricing and revenue management strategies? Also, the report should shed light on the negative/positive impact of the covid-19 pandemic on the two models reported. Your report must develop a list of recommendations and advice for the chosen models to boost its service marketing activities in the market and enhance its competitiveness.
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- How can an in-depth analysis of the competitive landscape help inform the pricing strategy of a streaming company partnering with Roku to offer a 4k streaming stick to new subscribers? Discuss the importance of understanding competitors' pricing strategies, bundled offerings, and perceived value in the market. When developing a pricing strategy for the partnership between a streaming company and Roku, what factors should be considered to determine the perceived value of the 4k streaming stick? How can the assessment of features, capabilities, and benefits of the device compared to alternative options help determine its pricing positioning? Analyzing the target market is crucial for establishing an effective pricing strategy. How can demographic, psychographic, and geographic factors influence the pricing decisions of the streaming company and Roku when offering the 4k streaming stick? Discuss the importance of understanding consumer behavior, willingness to pay, and price sensitivity…A study indicated that the optimal price for a consumer product is $32.45. Most products in the market sell for $29.99. What price would you suggest to retailers for selling the product and why? A haute cuisine restaurant is opening down the street, and its owner asks you for advise on pricing. Should you suggest that the restaurant price an appetizer at $6.99 or $7, and why?What type of pricing strategy does Trader Joe's appear to use. Pick only one and explain why. Trader Joe’s value equation is essentially low prices on unique, “gourmet” food items. Describe how Trader Joe's product choice and pricing (as seen online) execute this Good-value pricing strategy. What decisions about product, place, and promotion help Trader Joe's ability to offer such special items at such a low price? How does Trader Joe’s demonstrate the importance of price in creating value for customers?
- What characteristics of market demand make a service product an appropriate product candidate for this price-segmentation technique?What are factors that can help high/low pricing be successful in the presence of EDLP competition?You're in charge of pricing Phonic's product for its launch early next year. Review the SWOT analysis you previously prepared as well as Phonic's competitive environment, targeting strategy, and product positioning. Now continue working on your marketing plan by responding to the following questions. * What should Phonic's primary pricing objective be? Explain your reasoning. * Are smart phone customers likely to be price sensitive? What are the implications for your pricing decisions? * What price adaptations (such as discounts, allowances, and promotional pricing) should Phonic include in its marketing plan?Although more than one strategy can achieve profitable results, even within the same industry, nearly all successful pricing strategies embody three principles. They are value-based, proactive, and profit-driven. True or False?
- Research Smashburger pricing. Discuss the three major pricing strategies in relation to Smashburger. Customer-Value Based Pricing Cost-Based Pricing Competition-Based Which do you think is the company’s core strategic pricing strategy?Does "value" mean the same thing as "low price"? How do these concepts differ? Pick two competing brands from a familiar product category (watches, perfume, consume electronics, restaurants) - one low priced and the other high priced. Which, if either, offers the greatest value? Why might the strategy for setting a product's price need to be changed when a product is part of a product mix? What are the five product mix pricing strategies? Provide an example of each. (4 points) Alicia is a self-employed hair stylist who owns her own salon. She has asked you to consult with her on how to generate more revenue. Using the price adjustment strategies discussed in the chapter, advise Alicia on her options to increase sales. Please be detailed in your response with why you are choosing each.Suppose you have been asked by a food company to design an experiment that examines consumers’ purchase intentions toward their product (i.e., cereals), as a result of their recent pricing strategies (i.e., low price, high price) and product quality (i.e., organic offerings, nonorganic offerings) strategies. Basically, they would like to know the best combination of product quality offering and pricing strategy that yields the highest levels of consumers’ purchase intentions. How would this experiment look like? When working on this assignment, you should consider the following: Subjects: The experiment participants should be customers who consume significant breakfast cereals and are diverse in terms of income group, age group and work type. Experimental conditions: Independent variables – quality (categorical), price Dependent variable – Propensity to pay Effects: The main effect shall be impact of independent variables on propensity to pay such as how much affect does quality or…
- why are ethical concerns important issues when designing service pricing and revenue management strategies?The Services industry is one of the most affected by the COVID-19 outbreak, and to be able to hype up the industry, think of new or innovative ways on how to help boost it. With given travel agency in Philippines called: Creative Travel Agency Discuss the proposed pricing strategies of your chosen company and compare them with their direct and indirect competitors. Choose 1 direct and 1 indirect competitor. Do not forget to cite your references/websites.Justifying Price IncreasesTopic: Marketing ResearchCharacters: Sam, Marketing research manager at a television stationJohn, General manager of a television station Last year Sam was promoted to manager of marketing research for the sole television station in a small metropolitan market. Sam had earned a bachelor’s degree in marketing research three years earlier and immediately accepted an entry-level marketing research position at the television station because its management had a reputation for honesty and helping small businesses gain access to the mass media. The television station was sold six months ago to an international conglomerate. At that time, the general manager was replaced by John. John has developed a reputation in the industry of raising revenues and cutting costs. John just finished reviewing the policies of the former general manager and noted that, although the cost of servicing the numerous small business accounts was high, the profit margin on these accounts was…