Phillips should adjust the basic price to accommodate different target consumer. Selling at a lower price to these organizations allows them to pass on the price advantage to the students, who normally do not have a great deal of spendable income left to spend. Product-form pricing is an example of third-degree price discrimination. Of course, different prices go along with different models. However, Phillips can use product-form pricing to increase its profit margin.
Phillips can ask a higher price for an "eBLOCK" with new features as this product will probably attract different consumers. The price will lie higher than the cost incurred in adding new features, as previously explained. Nonetheless, these presumed wealthier consumers are more willing and able to buy the eBLOCK given the higher prices. Phillips can also give student discounts by means of logging onto a site such as SURFsport.
This is a web shop where students and employees of universities and HBO colleges can get official software and other ICT-products at a very low price. Students can make use of this simple ordering system as it allows them to get a discount and home delivery. This will also makes the university, HBO College or student associations pass on their price advantage to students.
If they don't, students will not buy them at these organizations and thus they will be left with extra eBLOCK's. When new students apply to these organizations, they can be informed about the eBLOCK and asked if they opt to buy one. Phillips can organize an information day for all the universities and HBO colleges to introduce them to their new product.
This will allow students to get to know the product and its functions, and word of mouth advertising could take place. Once Phillips expands into a more developed version of the eBLOCK, it also has to take into consideration that it needs to use different promotional tools to reach its target group. To reach the potential professional users it can make use of business-promotion tools such as presenting the product at conventions and trade shows.
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Product Products are the goods and services that your business provides for sale to your target market. How to cite this page Choose cite format: Pricing , Marketing mix How about make it original? Sorry, but copying text is forbidden on this website.
The term marketing mix refers to the marketing activities used to create, communicate and deliver value to the customer (Kotler, Keller, Brady, Goodman, & Hansen, , p. ). The four main marketing mix variables, referred to as the 4Ps of marketing are: product, price, place, and promotion.
Marketing mix distribution is based on the following scheme: wholesalers buy goods from a manufacturer or another wholesaler and sell it using retail or wholesale trade. They tend to use promotion as an element of marketing mix (personal selling, for example) and take measures to stimulate sales.
Marketing Mix is also known as the Four P's. The Four P's stand for Product, Price, Place, and Promotion. This paper will look at the Marketing Mix by explaining what the Four P's are and show how a business would use the mix to market a product or service. Essay: Essay’s marketing mix Every company has a different technique or way that contributes to their success. For some, it is the way they advertise their .
Marketing mix is suggested to constitute the four fundamental elements of marketing actions; namely, price, place, product and promotion (McCarthy, ). Together, these elements act as the means to illustrate the strategic position of a . Marketing Mix: Product, Price, Place, Promotion – Essay Sample Home / Essay Examples / Marketing / Marketing Mix: Product, Price, Marketing decisions made by a company when shaping a suitable proposition for the potential .