Using Marketing Strategies to Increase Market Share and Profit

by

TABLE OF CONTENTS

CHAPTER # 1: INTRODUCTION1

Title Selection1

Background of the Study1

Problem Statement1

Aim of research2

Objectives of Research3

Rationale of the Study3

Research Question4

Research Hypothesis4

Significance of the Study5

Structure of the Research6

CHAPTER # 2: LITERATURE REVIEW8

Conceptual Framework8

Importance of Pricing9

Marketing Approach12

Economic Theory (How market condition effect pricing)13

CHAPTER # 3: METHODOLOGY16

Research Method16

Sampling Technique16

Instrument for data collection17

Data analysis17

Reliability/Dependability17

Validity18

Justification of Research18

Ethical Considerations19

Timetable19

REFERENCES21

CHAPTER # 1: INTRODUCTION

Title Selection

The title of this study has been selected as “Using Marketing Strategies to Increase Market Share and Profit” which is the current topic of concern of several researchers. This study focuses on the pricing strategies of retail industry.

Background of the Study

In this report, main focus will be imposed on different types of pricing strategies, which enable organisations, to obtain their goal, increase their market share and profitability. 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, further various factors, which effect pricing, in the organisation; cost of production, competition, customer demand, as an organisation have 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.

Problem Statement

To achieve maximum market share and profit, effective marketing strategies are required. To the extent that such intensified on the product and service markets, competition also exacerbated the struggle for strategic competitive advantage. To Company to conduct successful, companies must already answers related to matters to them by the customer and the competition tomorrow. Before this in mind, the strategic direction of the company's e expect the long-term market development is key to business success one.

Similarly, Garda, 1991 and Shipley and Jobber, 2001 have argued that “pricing can be a powerful tool for every business”. Thus, setting price for any product or services is one of the most critical marketing decisions. Pricing can make or break profitability, help or hinder cash flow, build or wreck market position.

Jean Jacques Lambin (1985: 54), strategic marketing management “More than any other marketing variable, price is an easy means of comparison between competing product and brands”. As pricing, more than any other marketing activity has a direct and major impact on the company's bottom lines (Huskamp 2006: 98). Price too low involves risk of losing needed profit margins. Pricing too high involves risk of losing customers to the competition. Therefore in the quest for fast growth and heftier profit, companies must consider a variety of constantly changing factors market conditions, materials costs, and the customers' perceiver value of the product.

Aim of research

The way and means of doing business have been changing rapidly over the year and these changes are effecting organisation's profit level in different ways, as higher level of competition been faced by all organisations; therefore, organisation is trying to make a strong hold in the market by adopting different type of price strategy at the right time to compete ...