Pricing Strategies in Marketing Campaigns: Retail Strategic Management

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ACKNOWLEDGEMENT

I would like to take this chance for thanking my research facilitator, friends & family for support they provided & their belief in me as well as guidance they provided without that I would have never been able to do this research.



DECLARATION

I, (Your name), would like to declare that all contents included in this dissertation stand for my individual work without any aid, and this dissertation has not been submitted for any examination at academic as well as professional level, previously. It is also representing my very own views and not essentially those that are associated with the university.

Signed __________________ Date _________________

TABLE OF CONTENTS

ACKNOWLEDGEMENTii

DECLARATIONiii

CHAPTER 1: INTRODUCTION1

1.1 Introduction1

1.2 Background of the Study1

1.3 Conceptual and Theoretical Framework2

1.4 Significance of the Study2

1.5 Problem Statement3

1.6 Research Aims and Objectives3

1.7 Research Questions3

1.8 Structure of the Dissertation4

1.9 Ethical Considerations5

CHAPTER 2: LITERATURE REVIEW6

2.1 Introduction6

2.2 Concept of Pricing Strategies6

2.3 Importance of Pricing Strategies7

2.4 Steps for Developing Pricing Strategies8

2.4.1 Analysis of Prices8

2.4.2 Determination of Pricing Strategy Objectives8

2.5 Common Approaches to Pricing9

2.6 Different Forms of Pricing Strategies9

2.6.1 Skim Pricing Strategy9

2.6.2 Penetration Pricing Strategy11

2.6.3 Prestige Pricing Strategies12

2.7 Competition Oriented Pricing Strategies12

2.7.1 Differentiate From Competitors with Higher Prices13

2.7.2 Differentiate from Competitors With Lower Prices:13

2.7.3 Price Maintenance Against The Competition:13

2.8 Pricing Strategies for Product Portfolio14

2.8.1 Pricing Strategy for a Line of Products14

2.8.2 Pricing Strategy for Products Captives15

2.8.4 Geographical Pricing Strategies15

2.8.5 Pricing with Postage Assumption16

2.8.6 Pricing from a Base Point17

2.9 Factors to Be Considered When Setting Prices17

2.9.1 Internal Factors17

2.9.2 External Factors17

2.10 Importance of Pricing Strategies in Marketing Campaigns18

REFERENCES23

CHAPTER 1: INTRODUCTION

1.1 Introduction

For carrying out this study, there was a requirement of the resources which would assist to identify key constituents that have been undertaken for the purpose of this. In order to achieve this target, the focus of the study was on the various pricing strategies in marketing campaigns that can be undertaken by different organizations (Wernerfelt, 2008, 755). One of the components of the marketing mix is price policy, which should be as flexible as possible, providing the firm niche in the market, increase sales, increase profits and improve the financial situation. Initially, this report presents an introduction to the topic and sets out the research questions and objectives, highlighting key background information and explaining the reasons behind the study.

1.2 Background of the Study

Pricing is the most important marketing tool that determines the volume of sales of specific products and forming a picture of him in the eyes of consumers. Major Indicator in making pricing strategies is consumer demand. The higher the demand, the higher price may be at a fixed cost, and vice versa. Whereas, marketing campaign is a coherent set of marketing companies over the same period and to promote the same product or service. The same marketing campaign may include for example an advertising component, a component MD and a promotional device (Urbany, 1991, 402). Pricing strategy in its general principles is the form in which the company intends to follow in setting prices for their products and ...