Pricing Strategies in Marketing Campaigns

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TABLE OF CONTENTS

CHAPTER 1: INTRODUCTION1

Background of the Study1

Introduction1

Purpose of the Study2

Problem Statement2

Aims and Objectives2

Theoretical Framework3

Research Questions4

Ethical Concerns5

CHAPTER 2: LITERATURE REVIEW6

Pricing6

Subjectivity of the perception of price6

Marketing Approach for Pricing7

Pricing as a marketing tool7

Pricing Strategy8

Factors effecting the Pricing Strategies9

Pricing Strategies in Marketing Campaign10

Role of Marketing Campaigns for Pricing Strategies12

Evaluation of Pricing Strategies13

CHAPTER 3: METHODOLOGY15

Research Design15

Data Collection and Analysis15

Selection of Participants16

Literature Search17

Confidentiality17

Reliability and Validity17

Time Scale18

REFERENCES20

CHAPTER 1: INTRODUCTION

Background of the Study

The debate surrounding standardisation and customization of the marketing mix according to the market variations has been a topic that has been constantly discussed when expanding businesses beyond national boundaries. Pricing is one of the least discussed but most complex factors within the marketing mix due to the differences within markets and the number of factors that influence the pricing decision. The diversity and complexity associated with different markets has lead most theorists to identify market adaptation as the most suitable pricing strategy when conducting sales in foreign markets (Oxenfeldt, 2004, p 31). The study will be conducted to identify how pricing decision influences the marketing campaign of the company.

Introduction

In this dissertation, main focus will be imposed on different types of pricing strategies, which are used, in marketing campaign that enable organisations to obtain their goal. As different companies adopt different pricing strategies to meet their organisation goal, and to investigate how organisation analysis a pricing problem and formulate a price strategy in marketing campaign, further various factors which affect pricing in the organisation : cost of production, competition, customer demand, as an organisation has to move in accordance with these changing factors. Organisation which are not able to analysis price strategy successfully they have to face loss. As pricing is an important aspect for the success of any organisation (Nagle, 1990, 271).

As we know pricing play a vital role in the organisation profit margin because pricing is the only source of revenue for all organisations, thus pricing is the most sensitive approach. To achieve superior, sustainable profitability, pricing must become an integral part of strategy, not merely an after thought. Strategic pricing does not ask, “what price do we need to cover our cost and earn a profit?” rather it ask, they ask,” what cost can we afford incur, giving the price achievable in the market, and still earn a profit (Monroe, 1995, p.79).

Purpose of the Study

The purpose of the study is to determine the pricing strategies used by company in their marketing campaigns. It will enable the researcher to determine the significance of pricing in the entire process of marketing.

Problem Statement

Pricing play a vital role in the organisation profit margin because pricing is the only source of revenue for all organisations; thus, pricing is the most sensitive approach. To achieve superior, sustainable profitability, pricing must become an integral part of strategy, not merely an afterthought. Strategic pricing does not ask, “what price do we need to cover our cost and earn a profit?” rather it ask, they ask,” what cost can we afford incur, giving the price ...