mkt402 week 4 discussion 2 and responses 1

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Week 4 Discussion 2

“Assessing Pricing Policies” Please respond to the following:

  • Select an industry in which promotional pricing is commonplace. Hypothesize how this industry decided that the advantages of promotional pricing outweighed the disadvantages of promotional pricing.

AND RESPOND TO THESE POSTS:

Miller

RE: Week 4 Discussion 2

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The most common promotional pricing tactic is “buy one, get one.” An industry that uses it often is the beauty industry. More specifically, hair companies. There are many online distributors who garner major profits off this strategy. Using “buy one, get one” in hair bundle packages causes people to buy more as well as visit your site more frequently.

Consumer products, like imported human hair, promotional pricing is one of the most important issues for which a company needs pricing policies and a process for reviewing their effectiveness. Customer reviews, online influencers and photo proof of products impact promotional pricing in an advantageous way. Promotional discount is the incentive for the customer to investigate the supplier’s offer further. Policies are an essential part of any pricing strategy designed to capture value and maintain ongoing customer relationships.

Nagle, T. T. (2018). The Strategy and Tactics of Pricing, 6th Edition. [Strayer University Bookshelf]. Retrieved from https://strayer.vitalsource.com/#/books/9781351733…

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Ghee

RE: Week 4 Discussion 2

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Hello Class!

One industry that uses promotional pricing is the shoe industry. They offer a buy one, get one free or get the second at 50% off. This is a good way to promote sales, however in some cases, the shoe company can take advantage of the customer. If a shoe is a BOGO, the first shoe must be a greater price than the the second shoe. The customer can not pick a less expensive shoe as their buy it and get the more expensive shoe as their free one. The store will always use the higher priced shoe as the one you must pay for. It some cases, the store marks the shoes up to increase pricing for their shoes. Additionally, the customer is not allowed to use coupons for this pricing. However, I believe that more shoes are sold with the BOGO specials than just regular sales.

 
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