SAINT MKT301 MODULE 5 AND MODULE 6 DISCUSSIONS
You want HOW much for that bag? Why can Prada sell a handbag for $2,000 that costs the firm a little more to manufacture than the $200 bag sold at a department store? At the other end of the pricing spectrum, why would a consumer goods company provide a coupon that makes their new snack product all but free? We learned in the text that there are a number of pricing strategies firms can use to achieve their marketing objectives. Do they want to build market share, create a perception of exclusivity, or simply get you to try those new cookies? Consider the product you are using for your marketing plan. How would you price it to achieve your objectives? Describe the pricing strategy you would use to introduce your product to the market, and why you selected that strategy over other options. Is your choice a long-term or short-term strategy? What advantages or disadvantages do you foresee? Suppose that sales are not meeting your objectives, what change might you make in your pricing? By the way, that $2000 Prada bag may seem like lot of money for a simple handbag, but it is not even close to top of the pyramid. For that, check out the Tanaka designed bag sold by Hermes for a staggering $1.9 million. Why not order two? Module 6 Discussion What were they thinking when they made that ad? During the course of a day, you’ll be exposed to thousands of ads using a dizzying array of messages and image strategies, each of which appeals to different consumers in different ways. Are you a “slice of life” buyer that prefers to see products in the way you would use them at home? Or maybe humorous ads are more your style; the product that makes you grin is the one you’ll grab walking down the grocery aisle. It’s a good bet that the ads that make you want to buy a product are different than those that influence other shoppers. Advertisers study consumer trends and behaviors to match their ads to their target audience. For this discussion we’re going to focus on print ads, which are generally created for magazines, newspapers, and web pages. Find an ad (many are available online) that you think is interesting, copy and paste it into your discussion post, and describe the message and image strategy. Why is it effective or ineffective? What type of consumer is the ad targeting? If you were creating an ad for this product, what type of message and image strategy would you use and why?