marketing sim need pricing sheet for two brands based on data contained in sims…

Login to the marketplace sim, do not make any changes. Please create a price worksheet for each of our brands. Below is some of our needs and data

Right now, since there was no opportunity for profit in Q1 or Q2, we are -$538,000

This is the first Quarter that we will have the opportunity to get our product on the market.

For selling our product we need to keep in mind Price Elasticity

“All segments are responsive to lower prices. However, some are less sensitive than others. To some segments, a ten percent difference in price will have little bearing on demand. In other cases, the difference could cause a substantial switch from one brand to another.”

We also need to keep our pricing competitive, between brands and between other teams. If we have one brand that is significantly cheaper than the other, we should expect to see that one sell more. Same with our competitors in our market. If they’re trying to attract the same type of consumer, but are cheaper, we could potentially lose sales to them.

“As a planning tool, you might wish to prepare a price worksheet for each brand you carry. The worksheet would include the identity of the target market, suggested brand price, price sensitivity of the target market, predicted price judgment, brand prices of comparable competing brands, and a breakdown of your direct variable costs, R&D, and advertising

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