By now you should have a pretty good idea about the major information sources available on
By now you should have a pretty good idea about the major information sources available on the company you have chosen for your SLPs. Unfortunately, few if any companies will directly admit what pricing strategy they use. Most will say “of course we are charging you the lowest possible price”. But find out what you can about your company’s pricing strategy and also do some research on what some of your company’s competitors charge for the same products.
When you have finished researching about your company’s prices, answer the following questions (my company is Millbrook Water Products):
- How does your company’s prices compare to competitors who sell the same or similar products? Overall, does your company’s prices seem high or low?
- Do you think your company is basing their pricing mostly on cost (such as a cost-plus approach) or are other factors at play? Consider the concepts of prestige pricing in D’Antonio (2012) or value-based pricing mentioned in the Pearson tutorial.
- Discuss at least three other pricing strategies from D’Antonio (2012), Paley (2006), or the Pearson tutorial and explain whether or not you think your company is using these strategies. Explain your reasoning, and remember to cite the sources where you read about the pricing strategies from in your answer.