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ZC- former co-worker now represents a company

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A former co-worker now represents a company that manufactures a new type of laboratory-made gemstone, called ZC, which is similar to, but better than, cubic zirconia. These gemstones are used in rings, pendant type necklaces, bracelets and pins which your firm designs. While they have begun to sell their ZC jewelry to selected stores, they have just received an invitation to sell their ZC products on one of the largest television home-shopping networks in the United States with the potential, if the products sell well, for an airing on the network's European show. Your friend's company must now determine the best pricing method for their products in this environment.

The television program has given them complete control over how your products will be priced.

Your former co-worker brings this challenge to your marketing networking association. meeting.

Individual Work: Each group member should select one or more of seven pricing methods (listed below) to evaluate and determine the advantages and disadvantages of his or her chosen strategy for this special marketing situation.
The seven pricing methods are:

* Going-rate or competition-based pricing
* Perceived-value pricing
* Value pricing or "every day low pricing" (EDLP)
* Markup or cost-plus pricing
* Target-return pricing
* Group pricing
* Auction pricing

I prefer the Markup and cost-plus pricing!

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Solution Summary

The response addresses the queries posted in 741 Words, APA References

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The response addresses the queries posted in 741 Words, APA References
Pricing Methods: Television Home Shopping

Introduction

A manufacturer company constructs laboratory made gemstones, called ZC. These gemstones are better than cubic zirconia. The gemstones made by the company are used in rings, necklaces, bracelets and pins. The company currently sells ZC jewelry to some selected stores. The company has got an invitation from the largest television home-shopping network in the United States. In the new business environment of television home-shopping, the company wants to determine the best suitable pricing method.

The various pricing methods available for the company are Going-rate or competition-based pricing, Perceived-value pricing, Value pricing or "every day low pricing" (EDLP), Markup or cost-plus pricing, Group pricing, Auction pricing, Target-return pricing, etc. The television program has given the responsibility of pricing its products on the company itself. The company has to select the most suitable pricing method from among the given methods by analyzing the advantages and disadvantages of the selected method.

Selection of Pricing

The selection of pricing is vital for an organization, since it is the single most important factor on which the existence of the organization depends. ...

Solution provided by:
Ashish Sharma, MBA (IP)
Education
  • MBA (IP), International Center for Internationa Business
  • BBA, University of Rajasthan
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