The product is called (Fiery Flavor (it is similar to the hot Cheetos powder) and the parent company is (Fritos Lays) : It will be sold in 2 sizes a small bottle for $1.20 and the bigger one for $2.40 The product is to be sold in(walmart, target, etc., in USA(so look for local competitive companies).
– Identify the appropriate price strategy or strategies that should be used for the product
– How are competitive product/companies priced in relation to your product and company?
– Are prices for competitive products and your product different depending on where they are purchased(i.e: different stores, online, etc.)
– What pricing methods would you implement with this product? Would you offer price discounts or rebates? If so, how would that affect your bottom-line profitability?
– Describe how your pricing strategy and set price will determine your market segmentation and overall target market.
– Describe how your pricing strategy will affect the brand image of your product. And will your price give your target market “value” for their money?
– The price startegy of transporting, storing, and inventory.
– And any other pertinent information you deem relevant.
– (Use direct quotes, Basic marketing textbook(9th edition), and key(real-life) examples to support your statement)