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Pricing and Promotional Strategy

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A4.- Pricing Strategy The initial cost strategy to be used will be one of penetration based pricing. Since it is expected to attract a younger audience, it is understood that they have less income, so by offering the product at a lower cost than the competition will help us penetrate the market and achieve significant sales during the first months that the products they go to the market. If this campaign is successful as predicted, it will be observed that production costs will decrease, and we will also have a high inventory turnover. The cost of our products is as follows. Bag for drumsticks $15.00, and Protective rug for drums and percussion, $19.99. Developing and launching costs. During the investigative phase, the accost associated …show more content…

They have the vision to target young aspiring musicians living in main cities as Santiago, Puente Alto, Antofagasta, San Bernardo, Vina del Mar, Temuco, Rancagua, and Valparaiso. These are cities that have a population that ranges between 248,000 to 5 million. Their segmentation is based on Geography and Demographics. All the mentioned mass media or social media channels are utilized by a very high percentage of people with Facebook remaining the most utilized social media outlet in the country. Iab.trends reported that in Chile there are about 6 million users of Facebook and that the ages of those users are between 15-24 years of age. Iab also reports that ads have recorded about 3,755,500 monthly clicks with a 1% of conversions or about 37.55 conversions a month that have returned a sale. (iab trends 2016). Instagram, websites and other media outlets have their place and time and Percussion World recognizes that people between the ages of 18-35 are involved and many of them have the accessibility to be exposed to the advertisements and other promotions that could be offered for the

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Alternatives The primary selection that Sonance must build is that product to launch at the approaching CEDIA accumulation boils right down to that client base ought to they focus their attention on. We evaluated the client period of time price (CLV) of Sonance's completely different customers as of 2004 supported the knowledge provided within the case and our own assumptions (see Exhibit one within the Appendix). Our primary assumptions for this analysis square measure below: • Original Series Dealers • Price per try of $140 • Retention Rate of seventy fifth, conservative estimate supported amendment in range of dealers from 2003 to 2004 (600 to 500) • Growth rate of fifty, below growth in shopper

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According to ESPN in a 2014 poll, forty-nine percent of Americans are National Football League fans. Almost half of Americans watch football, that is a vast number of consumers that this advertisement is reaching. The NFL states that social media adds another two million viewers via Twitter to the amount of the total forty-eight million spectators who watch football on

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Some of the negative results of the increasing use of social media are a greater change of friend groups and acquaintances, increased awareness of the livelihood of our fellow peers, and more exposure to the world around us. With all these results, it is easy to see why young adults continue to become distant and flexible later on in their lives than those of previous generations. One of the most prominent consequences of the continued use of social media is the increase in average age of

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Rock and Roll has revolutionized the way we behave, dress, and much more. To this day rock and roll continues to make its statement in society. It had become a popular music genre that dominated the 1950’s and currently today 's music culture. The music genre originated in the 1950’s. It is a combination of Jazz, Blues, and Gospel.

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For the business-level, Trader Joe’s adopted a differentiation focus strategy. According to our textbook with this strategy, Trader Joe’s seeks to differentiate in its target market. They rely on providing better service than broad-based competitors. Specifically, they focus on the special needs of the buyer in other segments (Dess, Page 159). Joe’s differentiates its self from other grocers by providing a unique shopping experience fortified with their private label goods and great service from their crew members.

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Normally, consumers have unique needs that are not similar all the times. Therefore, the company must develop products that can address the unique concerns of the consumers. Evidently, Apple Inc. has been successful in the creating variety of products. However, pricing of the Apple Inc. products tend to limit the ability of buyers to purchase the products. While the company might justify the price of the products, setting the prices too high limits the ability of the willing buyer to purchase the

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This retail price is comparable to the firm’s other cordless vacuums, which have an original retail price of 499.99 to $699.99 (dyson.com). The price is also on par with similar premium innovative products such as the iPhone—that retails between $699 and $1149, depending on version (apple.com). At the same time, this price point positions the product outside of the price range of its competitors’ cordless vacuum—which have significantly lower retail prices. Additionally, this price will allow the firm to recoup its research and development costs within three years (refer to the Financial Projections section for additional details). To summarize, an organization’s pricing strategy is an important aspect of the marketing plan.

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Introduction The music industry has been experiencing many changes for decades. According to Tschmuck (2003:130), the industry has gone through three main “paradigmatic cultural changes”. The first change the industry experienced was in the 1920s with the introduction of the commercial radio which impacted mainly the promotional methods typically used. Then, in the 1950s the advent of rock ’n ’roll enabled more than 200 independent record companies to enter the market making the industry highly competitive.

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In the year 2010, it spent almost $800 million on ‘non-traditional’ methods of advertising. • Nike has chosen to target the seventeen year olds more as research has shown that the 17 years olds spend 20% more on shoes than the adults. • It has decided to do away with the dependence on the ‘big budget top-down brand campaigns that usually celebrate just one hit. • Its advertising and marketing campaigns are widely split between advertising agencies that specialize in recent technologies and social media. • It has chosen to focus more on the production of ‘cool stuff’’.

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Have you ever heard someone say ‘music is a universal language’? A language that, regardless of what country you’re from, one that you can communicate with someone from the other side of the planet. And yet, people nowadays seem to completely disregard the music industry, even though music itself is therapy for many people, and one of the greatest forms of entertainment. A quote-unquote sensible person would say the music industry is ‘oversupplied, undercompensated’ and that ‘the ability to earn a living is not strictly correlated with talent, qualifications or ability.’ Many people believe you cannot merge a passion and a job together, as they are supposedly two different things.

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Mr Price is known to be the best retail company that has a wide range of products sold in South Africa. They were established in 1885, they have been trading on the JSE since 1952. There are Mr Price stores located all around Africa, such as Botswana, Kenya, Tanzania, Malawi, Namibia and of course in South Africa. The founders Laurie Chiappini and Stewart Cohen opened the very first Mr Price in 1985 in Durban.

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Youth today are very inclined in using social media. Most of the students tend to believe that social media helps them a lot in terms of learning, studying, researching and finding information. Students can be easily influenced. Due to their curiosity, they want to explore or try what is new and trending to be able to fit into the society. They are able to easily adapt everything that they see around them.

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