Gum Bins

[Name of the institutes]Gum Bins

Create the Domestic and Global Product Branding Strategy

Following are the domestic and global branding strategy for the product that is a gum bin.

Being an environmental friendly product or brand: The product that is being offered is a gum bin. This product can easily be recycled and it would also aid in keeping the environment clean.

Strong and close customer relationship: One of the strategies is to form close and strong relationship with customers.

Keeping the customers involved or making them co-creators: This strategy is adopted to provide customers a chance so that they can design their own gum bin according to their own preferences.

Determine and Details About the Optimum Pricing Strategy

The pricing strategy that is to be adopted for “Gum Bin” is optimal pricing strategy. Optimal pricing strategy is also known as perfect price discrimination. When this strategy of pricing is adopted then the organization divides the segment of the market into distinct customer groups and charges that segment exactly what this segment is willing to pay. When there is a difference in price elasticity in different groups of the customers only then the strategy of optimal pricing can be practiced (Chirantan, 2013).



Examination Of How Pricing Strategy Supports Branding Strategy

The pricing strategy that is adopted would support the branding strategy. Different prices would be charged from youngsters, from housekeeping staff of public places, institutes and offices and different from housewives. According to the pricing the product quality would vary. High prices would be charged from the house keeping staff of institutes and low prices would be charged from youth. The product that would be provided to the housekeeping staff of institutes would focus on quality and durability whereas the product that would be provided to youth would focus on design, colors and customization. In this way, ...