Impact of Culture on Product and Pricing Strategies Marketing Essay
Impact and influence of culture on brands in the Indian market DOI: 10.9790 487X - iosrjournals. The prices were too high for Indian consumers to afford. Published: Abstract This article aims to conduct a systematic review of the literature on pricing and promotion, as influencing variables. profitability. Pricing strategy. The company has uniform prices for its products, regardless of whether they are sold online or at retail. The company's pricing strategy is determined by the type of product. Products for the mass market are cheaply priced compared to products for the affluent. Product prices also vary depending on size. Go to the market. Presenting a price to the market requires both astute communication with it and patience. It can be extremely difficult to explain the value and benefits of revolutionary products to often skeptical buyers, but no matter what circumstances a new product encounters, a flawed pricing strategy should not undermine its value. Penetration pricing is rooted in the philosophy of leveraging high sales volume from the start, relying on the price of the product to drive market demand. While skimming is often a short-term strategy until the market is saturated, penetration pricing is seen as a sustainable, longer-term approach. By the end of the study, it was found that digital marketing strategies, especially social media marketing and email marketing, effectively generate purchase intent among Filipinos, product mix pricing strategies explained with examples. Setting a price for a product mix can be challenging because each product in a range has varying degrees of competition, market demand and related costs. Let's say you're considering migrating to Tello's mobile service provider or buying a new phone from the. This pricing format not only helps to recover the initial costs, but also creates the perception that the product is not only premium, unique and first in the market. market and is thus perceived as a better product than the competitors who are perceived to be copying the original product Ashraf, Li, amp Mehmood, 2017. Summary. This study examines the national cultural factors that influence marketing strategies implemented by international companies in thirteen African countries. This is an exploratory study. The essay takes a critical look at the pricing strategies in marketing employed by Procter amp Gamble P amp G. Factors to consider when developing a pricing strategy, the relationship between costs and prices and the relationship between a company's pricing strategy company and its product, distribution and promotional strategies are explained, Impact of Product Differentiation, Marketing Investments and Brand Equity on Pricing Strategies: A Brand Level Investigation European Journal of 5 6 760-781