Pricing Strategies in Marketing Campaigns: Retail Strategic Management

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TABLE OF CONTENTS

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

CHAPTER 3: METHODOLOGY23

3.1 Introduction23

3.2 Research Process23

3.3 Research Methods24

3.4 Research Technique25

3.5 Research Approach26

3.6 Steps in Mixed Methodology26

3.7 Strength and Weakness of the Mixed Research:26

3.7.1 Strengths26

3.7.2 Weaknesses27

3.8 Sources of Data Collection27

3.9 Secondary Data27

3.10 Primary Data28

3.11 Instrument for Data Collection28

3.12 Questionnaire Survey29

3.13 Sample Selection Criteria29

3.14 Questionnaire Design30

3.15 Data Collection31

3.16 Data Analysis31

3.17 Design and Appropriateness of the Instrument31

3.18 Limitations of Research32

3.19 Summary32

CHAPTER 4: FINDINGS AND ANALYSIS34

4.1 Introduction34

4.2 Analysis of the Findings34

Graph :1 Marketing Campaigns Play A Vital Part In Justifying The Pricing Strategies34

Graph :2 Pricing Is Considered As One Of The Most Important Element In Marketing35

Graph :3 Marketing Campaign (Promotion) At Both The Wholesale And Retail Levels Is A Ubiquitous Marketing Phenomenon36

Graph :4 Price = Quality. For Many Consumers, A High Price, Higher Than The Market Average, Attests To The Quality Of The Product37

Graph :5 Customer Judge Particular Product By Price Now A Days, Therefore Before Fixing The Price, Firm Need To Keep In Mind Both Pricing Objective And Customer Perception In Context To Customer Retention38

Graph :6 A Price Strategy Must Be Supported By Pricing Intelligence-An Understanding Of How The Organisation's Current Pricing Is Influenced By The Way It Measure Its Own Profitability, By Customer Demand And Other Competitive Landscape39

Graph :7 Low Price Brand Lacks Certain Qualities, Features, Or Customer Services Benefits To Which Are Attached Certain Risk, Under This Situation Organisation Fixed Price On The Bases Of Product Quality40

Graph :8 Marketing Campaign Are Considered To Be The Driving Force That Has Assisted Companies In Achieving Their Objectives In Expanding Into International Markets41

Graph :9 When Making Pricing Decisions For International Markets These Factors And The Level Of Complexity Associated With They Take On Extra Dimensions42

Graph :10 A Marketing Campaign Is A Coherent Set Of Marketing Companies Over The Same Period And To Promote The Same Product Or Service43

4.3 TESCO Pricing Strategies44

4.4 TESCO Marketing Campaign44

4.4.1 Promotional Tools44

4.4.2 Advertising44

4.4.3 Direct Marketing/ PR45

4.5 Critical Analysis of Findings and Literature46

4.6 Summary47

CHAPTER 5: CONCLUSION & RECOEMMENDATIONS48

5.1 Introduction48

5.2 Conclusion48

5.3 Recommendations52

5.4 Summary54

REFERENCES55

APPENDIX61

Survey Questionnaire61

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 ...