Module 4 – Case
Pricing; Recent Trends in Marketing; and Social, Ethical, and Legal Issues
To start off this assignment, first make sure to review the required Background materials carefully and make sure you have a solid understanding of the various pricing strategies and when they are typically used. There is also a listing of optional readings that may help you with the concepts and could serve as useful references for this assignment.
Once you have finished reviewing the background materials, think carefully about the following situations and write a 4- to 5-page paper discussing what pricing strategy you would recommend in each of the situations. For each recommendation, make sure to explain your reasoning and to cite the information sources for your recommendation.
- A company has developed a new 4K 3-D television with outstanding displays. The company has a patent on a new technology that doesn’t require glasses to see the 3-D effect and has a display far better than those of any competitor’s 3-D televisions. The company still has to compete with other television manufacturers, but because of the patent and superior technology it is likely to have a large advantage in the 3-D television market for at least a year or two.
- A brand-new company has developed a shampoo that is comparable to other major brands in quality. The company has developed a new manufacturing technology that over a period of time should be able to produce shampoo at a cheaper cost than any competitor. The cost of the new manufacturing equipment was high, but once the equipment is paid off, it should be very cheap to produce each bottle of shampoo.
- You have just opened up a new electronics shop and Apple will be releasing its latest iPhone in a few days. You are confident that once customers come into your shop they will be impressed with your large selection and knowledgeable and friendly sales staff and will become loyal customers. However, given the nearby location of Best Buy and other popular electronics shops it will be a challenge to get customers into your shop. So the first big pricing decision you have to make is what to charge for iPhones.
- You have started a new fashion company, and your partner in this business is one of the top designers in Italy. You and your business partner’s plan is to become known as one of the premier manufacturers and designers of blue jeans in the world. You hope to have a very high-end brand that is well known among the wealthy and fashion-conscious.
Answer the assignment questions directly. Do not copy and paste the questions. Instead use keywords such as 4K 3-D Television, Shampoo, etc., to organize your paper. Include an introduction and a conclusion.
Stay focused on the precise assignment questions and don’t go off on tangents or devote a lot of space to summarizing general background materials. Use double-spaced, black Verdana or Times Roman font in 12 pt. type size.
Make sure to use reliable and credible sources as your references. Articles published in established newspapers or business journals/magazines are preferred. If you find articles on the internet, make sure they are from credible sources.
Reference your sources of information with both a bibliography and in-text citations. See the Student Guide to Writing a High-Quality Academic Paper, including pages 13-14 on in-text citations. Another resource is the “Writing Style Guide,” which is found under “My Resources” on the TLC portal.