Price Promotion Field Study-03

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Book link: https://b-ok.cc/book/3413317/3a3ecb

Must use at least 2 citation from Chapter 19

Word count :300

Writing instruction:

Overview:

In this study, we will apply our understanding of pricing strategies and their impact on consumer decisions in a field study of prices presented at a local retail store or an online store.

Background:

Assume you are part of a marketing consulting team, and your task is to assess competing firms’ pricing strategies to get a feel for market demand within the retail industry. Assume several retail stores that you frequent or several online/mobile retail sites/apps that you use represent the competitors you will be assessing. Review the stores/sites/apps to compare pricing of different products/services to find

different examples of most or all of the following pricing tactics:

  • – quantity discounts
  • – cumulative quantity discounts
  • – seasonal discounts
  • – rebates
  • – zero percent financing
  • – price-matching
  • – price lining
  • – charm pricing / psychological pricing (.99 pricing)
  • – price bundling (product option pricing)
  • – pay what you want pricing (price bidding)
  • – payment method pricing (credit card / cash)
  • – two-part pricing (product + professional service pricing)
  • – freight absorption (delivery option) pricing
  • – captive product pricing
  • – loss-leader pricing

Assignment:

  1. 1) Visit several retail stores, preferably stores that are not busy and display prices clearly. Alternatively, visit mobile shopping apps or online shopping sites. You can also look at a mix of physical retail stores and mobile/web shopping retailers. If possible, ask store managers if you can snap pics of some product displays for a Marketing class assignment (assure them you will not share the photos outside of your Marketing class and not include any customers in the photos).
  2. 2) Observe prices of different products/services in the stores/apps/sites you visit, taking photos of prices that show the above listed pricing tactics. For mobile or online retailers, take screenshots of the prices you view.
  3. 3) Find examples of at least 7 of the above pricing tactics, making sure you have a photo or screenshot of each CLEARLY showing the price(s).
    •  Cite all photos using proper APA in-text citation format for citing your own digital photography works.·
    •  Cite screenshots as if they are your own photos (use the same format as citing your own photos).·
    •  DO NOT JUST BORROW PHOTOS FROM ONLINE SOURCES – You must take your own photos or screenshots for this assignment, and the date of your photos/screenshots must be clearly presented in your in-text citations under each photo/screenshot so that your professor can verify if needed.·

4) Compile your photos/screenshots into a paper in which you include with each photo/screenshot a short paragraph that

o describes the product/service the price showing in the photo/screenshot refers to in a few words

o re-states the listed price (and associated conditions if any) in a few words
o identifies the name of the retailer where the product/service is offered
o clearly names the pricing tactic
o briefly (one sentence) offers your opinion of whether or not this pricing tactic works

for this retailer and this product/service.

5) Add your name and title to the top of the first page, followed by a short introduction sharing when and how you collected the photos/screenshots and information for this assignment, and include a references section at the end showing where you gathered information on the pricing tactics. Thus, you will format your paper as:

  1. Introduction – the assignment’s purpose, where and how photos/screenshots and information were collected for the paper.
  2. Photo/screenshot showing first pricing tactic example
  3. Photo/screenshot showing second pricing tactic example
  4. Photo/screenshot showing third pricing tactic example
  5. Photo/screenshot showing fourth pricing tactic example
  6. Photo/screenshot showing fifth pricing tactic example
  7. Photo/screenshot showing sixth pricing tactic example
  8. Photo/screenshot showing seventh pricing tactic example
  9. References – full APA citations for sources on pricing tactics (probably including a citation for our course textbook

Cite your own photos , put your citation directly under each photo (not as a reference or footnote), and cite it like this: Figure 1. Skywalker, L. (2019, Dec. 3). Captive Product Pricing at Walmart in Eugene [Digital Photograph]. For this assignment, you can use the same format for screenshots, but list the format at the end as [Screenshot].

 

Last Updated on July 2, 2020 by Essay Pro