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Forecasting Method 1Pros: 1. The Method is very structured.2. The whole over-weight market is considered in the forecast and very little data is assumed. Most data comes form market research. Cons: 1. Considering it is the first of its kind, full value is not beingleveraged.2. The estimate is spread very broad. It is hard to predict the behaviour of such a broad segment of customers.3. May not be accepted as easily by the low-income groups as compared to the high-income groups.4. Hard to create a brand across multiple demographics .Forecasting Method 2Pros: 1. The Method is aggressively priced and estimated.2. Leverages the uniqueness of the product.3. Will create an image of uniqueness and something that works outstanding. Cons: 1. May not be able to meet forecasted results due to aggressivepricing.2. The estimate is still spread very broad. It is hard to predict the behavior of such a broad segment of customers. Forecasting Method 3Pros: 1. The Method is aimed at a particular segment i.e. women above 35.2. Aggressively priced, but portrayed as a niche brand.3. A clear picture of the market they are targeting and attractive pricing in relation to the benefits the product is delivering. Cons: 1. There is very small room for failure as it is being promoted as a niche product.2. Gender bias may mean loss of half the segment in a single shot.
What pricing strategy approaches would you suggest Printup explore? What are the advantages and disadvantages of each strategy?
a)Benchmarking against market competition Pros: A base for pricing is present. Goals are easy to meet. Cons: positioned as similar to other competitors in the market. Hard to market the products full value b) Measuring Value Proposition Pros: Full value is extracted. A niche feeling is built. Cons: May be too aggressively priced. Highly dependent on consumer behavior. c)Leveraging product position market Pros: Product is valued well. A niche product idea. Cons: Full value is not extracted. Broad market segment may not pay for the value of the product. Highly dependent on