Pricing Strategy Assignment Help
A product's success is based upon its market price, which is considered an essential marketing mix element. It should be decided according to the market conditions. An organization should set the prices of the product neither too high nor too low so that it is able to attract the customers and is also able to generate maximum and optimum profits. The determination of the price of the product is a very challenging and difficult task for an organization to accomplish. Our Pricing Strategy Assignment Help experts say that the product's price is based on a number of factors that are the location of the market, availability of substitutes, cost of production, customer demand and competition between the firms. It is very challenging for a student to do market research to complete the given assignment.
What do you understand by pricing strategy?
Pricing is one of the marketing mix components, which is a strategy used for marketing products and services. It is an essential strategic component used for product placement and can also affect the other components of the marketing mix. The strategies adopted by an organization related to pricing depend upon different situations and purposes. The initial motive behind a particular pricing strategy is to attain large profits. But the strategy may also depend or vary upon the entry of a competitor in the market, if the competitor is selling same type of product or service like yours at a lower price; it is time for you to make some changes in the pricing strategies in order to hold back your customers. If you are entering a new market, you will have a different pricing strategy that will be majorly influenced by the strategy adopted by competitors who have already established themselves in that market. Ultimately, the business house has to decide the pricing, keeping in mind the costs and resources involved.
Getting an assignment on pricing strategy can be tough to handle and requires extensive analytical skills in understanding the problem and the price setting mechanisms. Here, the experts of the TotalAssignmenthelp.com would provide you the best service of Pricing Strategy Assignment Help as they are experienced and have researched the market well enough to provide you all the relevant information regarding the Pricing Strategy Assignment Help. Our experts are always engaged in conducting the research for the market to provide you the efficient service of writing an assignment that too after making all the calculations regarding the pricing strategy of the mentioned products provided in the assignments.
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It is really challenging for the students to apply marketing techniques and knowledge in determining the pricing strategy of the product and if there is a condition of dynamic market then it becomes even more difficult. But our experts here would go to any extent to provide you the Pricing Strategy Assignment Help so that you can secure good grades. Our experts study the market conditions and believe in practicing the dynamic and stormy market to provide you with the exact and accurate Pricing Strategy Assignment Help. It is a way and effort of our experts to reduce the excessive academic burden on you. Our experts are in great demand globally and serve the facility of quality assignment services in countries like Australia, Japan, Singapore, USA, and the UK at a very nominal cost that would not burden you.
Classification of Pricing Strategy Assignment Help
It could be really difficult for an organization to determine a specific pricing strategy which yields them good profits. On one hand an organization could not set their prices of the product very low as it would not provide them good profits. On the other hand an organization could not set their prices very high if they are not having a great brand value. Our experts have provided different pricing strategy in Pricing Strategy Assignment Help as follows:
- Competition pricing: Competition pricing is based upon the prices set by the competitors in the market. That means an organization would set their prices according to their competitors. This strategy is really beneficial for those who deal in like products. In competition pricing an organization sets it product’s price after evaluating the prices of the similar products.
- Penetration pricing: Penetration pricing strategy refers to the strategy of an organization to penetrate their new product in the market. When the product is introduced in the market at the initial stage, the price of the product is kept low to attract the customers. Once the product is established in the market, the producers raise its price.
- Product line pricing: Product line pricing strategy is used by those manufacturers that produce more than one goods and deals in them. Here the manufacturer adopts the product line pricing strategy to maximize their sales and revenue by selling the different goods by making them complementary to each other.
- Cost based pricing: This type of pricing strategy is used by those organizations that take the product's total cost as the basis of determining the price of the product. Cost of the product includes all the cost incurred on its production, promotion and transportation. After determining the product's cost, the manufacturer sells it at a margin higher than the cost that is called profit of that product. Cost-based pricing strategy is best for those organizations which do not want any complex pricing strategy for their product. Cost based pricing strategy is best for those organizations which do not want any complex pricing strategy for their product.
The above pricing strategies are really difficult to implement and require much research and experience of the market. It is necessary for the student to study in depth to make the assignment provided by the institution. But, our experts at Total Assignment help would provide these students a sense of relief and would reduce their academic burden. Our experts are in this field of writing assignments and doing market research since years, it would be comparatively easier for them to provide you the best Pricing Strategy Assignment Help to help you score good grades.
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