PRICE Strategy Paper
For each of the following price orientations, identify and describe a specific product that would be appropriate for that price orientation. At least one of your product selections should be a service and at least one of your products should be sold to the B-B market.
Orientations:
• Profit
• Sales
• Competition
• Customer
For each Price orientation category, provide the following:
1. A description of the Product. Include the product type and an indication if the product is new or existing.
2. A brief description of the customer needs the product addresses and the market type it will be sold to (B-C or B-B) Note: this description should focus on the customer not on the product.
3. Fully describe a recommended Price strategy or policy that will best accomplish the Price objectives. Explain how your policy relates to the price orientation and why it is effective for the product type.
4. Summarize your analysis of the four price examples in a written paper.
5. Review your recommendations for price orientation and policies and make observations regarding elements that must be considered in setting prices. Determine why this activity should be considered part of the marketing function of an organization. Add your observations and conclusions to your written paper.