- đ Top 10 Pricing Strategy Examples
- đ Pricing Strategy â All You Need to Know
- đ 5 Types of Pricing Strategy
- đŁ Creating a Pricing Strategy
- đ Real Examples of Pricing Strategy
- đ Pricing Strategy Research Paper Examples
- đĄ Essay Ideas on Pricing Strategy
- đ Good Pricing Strategy Essay Examples to Write about
- đ Simple Research Paper Examples with Pricing Strategy
- âïž Pricing Strategy Essay Examples for College
Wondering how the leading business giants carry out their pricing strategies? Check the examples of pricing strategies of Adidas, Apple, & Nike! These companies know that without proper pricing, they risk losing money.
Keep reading to figure out how to set the best prices and what the losses are if the goods are too expensive or too cheap!
đ Top 10 Pricing Strategy Examples
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- Blue Shark Company's Marketing Plan
- Etihad Airways Companyâ Supply Chains and Logistics
- Barclays Company Marketing Plan
- 2Degrees Company's Marketing Research
- Crunchy Bites Company: International Business Plan
- Market Structures in Australia
- Just Us! Coffee Roaster Company's Marketing Plan
- Louis Vuitton Handbags: Consumer Behavior Model
- Frozen Food Production Industry Market
đ Pricing Strategy â All You Need to Know
Below we will discuss pricing strategy, how to create it, and its importance. Read on to receive essential knowledge on this topic.
Pricing Strategy Definition
A pricing strategy is an approach to setting prices for products or services of a particular business. Usually, it is a part of a company’s business strategy. The choice of a pricing strategy depends on several factors:
- Brand positioning,
- Competitors’ pricing,
- Location of the business,
- Production costs,
- The current state of the economy,
- Demand for the product or service.
Benefits
Here is how a well-defined pricing strategy helps businesses:
- It boosts profit and money turnover. With the right pricing strategy, a company rarely has too many goods left in stock.
- It maintains a brand’s market share. Fair pricing is one of the critical components of earning customer loyalty.
- It creates brand value. The price level defines what people think about the brand. Affordable or mass-market brands and luxury goods have entirely different pricing strategies.
đ 5 Types of Pricing Strategy
Here are the main pricing models:
đŁ Creating a Pricing Strategy
Pricing strategy is not only about marketing. It also involves a lot of calculations and industry research. Let’s imagine you need to create a pricing strategy for a restaurant. Your steps should be as follows:
Step #1 â Count the Costs
Estimate how much maintenance of one restaurant costs. You can count expenses for a month or year. Define how much revenue your restaurant needs to be profitable.
Step #2 â Evaluate Market Conditions
Estimate whether your services will be in demand considering the competition, economic situation, consumer habits, etc.
Step #3 â Research Competitors
Look at other restaurants and cafés in the same area and study their prices. Try to concentrate on sites similar to your restaurant. The more similar the characteristics of a place are, the better.
Step #4 â Outline Your Buyers’ Personas
Think about what they are like and why they prefer to dine at your restaurant. Also, imagine their lifestyle and potential altitude to your services.
đ Real Examples of Pricing Strategy
Apple Pricing Strategy
Apple is a unique company because it manages to sell its products at high prices without investing much money in advertising. As an Apple product’s life cycle is usually longer than competitors’, their pricing is reasonable. Premium pricing instantly makes consumers think that they invest in quality rather than quantity.
Adidas Pricing Strategy
Adidas often combines competitive and skimming pricing strategies. It uses prices of approximately the same level as Nike or Puma. Adidas implements skimming pricing strategies for unique collections and collaborations with designers, celebrities, and other expensive brands. During common sale seasons, Adidas never misses discount offers and special deals.
Nike Pricing Strategy
Nike uses value-based as a basis of their pricing strategies. It sets reasonable and expectable prices for most of its products. In addition, Nike uses premium and skimming pricing for more sophisticated goods. As a market leader, the company also partially sets pricing standards based on its own calculations.
đ Pricing Strategy Research Paper Examples
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- Apple Objectives, Goals for the Future, and Mission: Procurement AnalysisBusiness essay sample: Researching Apple Objectives đŻ? Apple Incorporation is one of the leading American manufactures that has specialized in the production of đ± electronic devices. Discover objectives of Apple company, its goals for the future, and mission.
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- Starbucks Coffee Shop's Operations and Service ExcellenceBusiness essay sample: Starbucks is a leading coffee shop in the UK with an active operations management strategy backed by exemplary performance in terms of quality, speed, and cost reduction.
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đĄ Essay Ideas on Pricing Strategy
- Components of a Marketing ProgramBusiness essay sample: This paper outlines a marketing plan that covers marketing situational analysis, marketing strategy, distribution channels, and pricing strategy, among others.
- Nike and Adidas Products: Price and Income ElasticityBusiness essay sample: This paper reviews the price and income elasticity of commodities from Nike and Adidas companies đȘ. It explores issues that influence the elasticity of their products.
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đ Good Pricing Strategy Essay Examples to Write about
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đ Simple Research Paper Examples with Pricing Strategy
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- Economics of Ibn KhaldunBusiness essay sample: Khaldun engaged in active politics and this made him move from place to place with changing political environments.
- The U.S. Brewing Industry ResearchBusiness essay sample: The paper will attempt to provide an overview of the brewing industry in the United States and the different strategies used by brewing companies, and the regulation's influence.
- Communication Strategies and Marketing MixBusiness essay sample: This paper analyzes the marketing communication strategies and mix applied by Skoda and BMW in the UK. It reports on the analysis by focusing on the major differences.
- GlaxoSmithKline Company's Economic FactorsBusiness essay sample: This paper will critically look at the economic factors related to the business operations of the GlaxoSmithKline Company in the pharmaceutical industry.
- Tide to Go Product Introduction in EgyptBusiness essay sample: Tide to Go is essentially a convenience-based product. The product is well established in other markets and has a strong brand elsewhere.
- Sam Adams Beer CompanyBusiness essay sample: Sam Adams Company has great many opportunities for the distribution and product promotion. The company uses two types of distribution, direct and indirect.
- Comparison of Gasoline Prices and Demand ElasticityBusiness essay sample: An understanding of the price elasticity of demand for products and services is essential in the business world.
- Marketing Plan for the FlaBlaster ProductBusiness essay sample: This is a document about FlaBlaster, a product that is able to reduce the weight of a person without using other weight loss procedures such as surgery.
- The International Health and Fitness Centre: The Gyms Strengths, WeaknessesBusiness essay sample: The report will establish which among the gymnasiums studied, offers its clients the best value for their money.
- Ashburn Furniture. Company AnalysisBusiness essay sample: The paper will consider the moves that are supposed to be taken by Ashburn furniture in responding to the price reduction, and the recommendations will be made to four departments.
- Marketing Strategies: Case of ING DIRECT BankBusiness essay sample: This paper analyzes the case of the ING DIRECT Bank institution based in Australia. The paper seeks to link literature on marketing strategies in view of the marketing strategies.
- Adidas Shoes: Situation Analysis, Future StrategiesBusiness essay sample: Adidas is the second world largest sports apparel producer. The business enjoys many strengths including a strong brand name and control over its distribution channels.
- Easy Jet Marketing Plan and Reflection ReportBusiness essay sample: Easy Jet is Europeâs leading short-haul airline with a market presence in more than 30 countries around the world.
- Food Industry: McDonaldâs CompanyBusiness essay sample: McDonaldâs is one of the worldâs leading fast-food corporations. Its fast growth in the global scene have influenced the food industry by revolutionizing the fast-food sector.
- IBM: Creating Competitive AdvantageBusiness essay sample: By managing its supply chain efficiently, IBM may create a competitive advantage of its products in terms of quality and delivery efficiency.
- Java for You Company: Obstacles When Running a CompanyBusiness essay sample: Java For You company existed in a severely competitive environment; hence, the company was facing many business hardships and risks.
- Virgin Atlantic: Marketing Mix AnalysisBusiness essay sample: Virgin Atlantic is the business name of Virgin Atlantic Airways Limited, and Virgin Atlantic International Limited.
- Quaker Oatsâ Oatmeal Division SWOT AnalysisBusiness essay sample: Quaker Oats Oatmeal Division has not been very successful by the year 1998 as was planned. The reviving of the company had been put on the shoulders of the chief executive.
- IKEAâs Path of InternationalizationBusiness essay sample: The current report focuses on exploring IKEA's approach toward internationalization and international expansion as a component of its strategy.
- Abercrombie and Fitch: Redefying Target MarketBusiness essay sample: The study of how Abercrombie and Fitch can redefine its target market and create relevant assortments, to sell the changes and revamp its presentation to attract customers.
- Khalifa University Marketing PlanBusiness essay sample: The marketing performance of Khalifa University will be evaluated as per its advantages and disadvantages in the competitive environment.
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- Aveng Group and Construction Sector in South AfricaBusiness essay sample: In this paper, the author analyzes the construction sector in South Africa and the role of the Aveng group in it, describes its competitive strategy, advantages and disadvantages.
- Contribution Margin: Wonder Co. CaseBusiness essay sample: The pricing strategy and pricing principles that would allow the firm to meet its objectives effectively are being developed in parallel.
âïž Pricing Strategy Essay Examples for College
- Price Elasticity of Demand
- Advanced Pricing Techniques
- Nike Inc.'s Marketing and Communications Plan Nike
- Malaysian Airlines' Marketing Plan Critique
- Three Top Concepts of the Class
- Zillow Group Inc.: Company Analysis
- Analysis of Appleâs Marketing Mix
- Product Costing and Product Pricing Practices
- Walmart Ltd Financial Analysis
- Apple, Inc. Financial Performance Analysis
- Hamdan Footwear Start-Up Company's Business Plan
- Pringly Division Company's Management Accounting
- Accounting: Costing in a Manufacturing Environment
- Transfer Pricing: Benefits and Applicability
- Financial Research Report Apple, Inc.
- New Footwear Product â Tarco Footwear Company
- HAYLO Hair Products Company Analysis
- Hotel Sim: Financial Analysis
- Management Accounting Concepts in Decision-Making
- The General Trends for Cellular Telephones
- How Gig Car Share Has Been Able To Enter the Market
- Spa Beleza Financial and Retail Management
- Financial Exposures and Risks in Business
- The Definition of Yield Management
- JetBlue Airways' Hybrid Business Model
- Dominoâs Pizza Firmâs Operational Management
- Matalan's and Topshop's Management and Decision-Making
- Doyle Company Analysis: Case Study
- Amazon.com Firm's Supply Chain Management
- Almarai Company and Dynamics of Business Environment
- Sports Marketing Affected by Internet of Things
- Arabic Coffee or Arabic Restaurant in United State
- Uber Company's Analysis and Market Segmentation
- Case 10-Uber: Feeling the Heat from Competitors and Regulators Worldwide
- The Profitability and Growth of Low-Cost Airline Carrier, Easyjet
- Managing Customer Relationships in Apple
- Southwest Airlines' Hybrid Strategy
- SWOT Analysis - Threats: CVS Pharmacy Case
- Customer Satisfaction and Pricing in UAE Shopping Centers
- Economic Concept of Elasticity in Netflix Case
- Economic Characteristics of Starbucks
- Marketing Aspects: EZ Schedule
- DDM Lab Determining Effective Financial Strategy
- Apple Inc.'s Financial Management and Shares
- Afterpay Company: Financial Report
- Discussion of Q-Robotics Business Plan
- Walmart: Transportation Strategy
- The Success of Fruit Basket Business in the USA
- Netflix Case Study Report: Brief History
- Planning Tools in Management Accounting
- Korwin Pharmaceuticals: Promotion and Pricing Strategy
- Types of Auctions, Their Value, and Purpose in the Economy
- Fun Boutique Hotel's Business Plan
- Arrid Brand: Environmental Scan and Industry Analysis
- Market Structures and Relating Pricing Strategies
- Morgan's Healthcare Organization's Strategic Plan
- JC Penney Department Stores' Decision-Making
- A Qatar SME Analysis: The Case of Ciko Middle East
- Virtual Wardrobe Application: Special Pricing for the Markets and Customers
- Analysis of Lego Place and Price Strategies