Prepare in three+ pages, as a business memo.
1. Read Gerard Tellis, Beyond the Many Faces of Price: An Integration of Pricing Strategies. AMA, 1986
2. Select three pricing strategies described in the article.
3. Identify, Research and discuss two additional current pricing strategies not discussed Tellis.
4. For each of your five chosen pricing strategies:
Define in your own words the pricing strategy, and how the pricing strategy is intended to fit with overall marketing strategy.
- Identify one current example of an application for each of your five chosen pricing strategies. Your examples may come from other scholarly articles, corporate or non-profit websites, business journals, advertising and promotion for a product or service. Include specific evidence of your pricing applications (see below).
- Explain, for each of your five example strategies: a) the product or service offer; b) your analysis of the pricing strategy, referencing the Tellis article; c) impact of the pricing strategy on customers, the brand and competition
- Develop conclusions about the success of pricing strategies identified.
- Evaluate what you have learned
- Cite references you have used at the end of your Toolbox Exercise. n Include evidence for pricing applications: cite webpage, ad, journal, etc. Include photos and screen shots as applicable.