Lecture 3: https://www.youtube.com/watch?v=JmWvjuAARIU
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Week 3 Lecture
Chapter 5 of the course text, Principles of Marketing
This week, you learned about the three core pricing strategies: penetration, neutral, and skim. In this interactive activity, youre going to briefly recap the three pricing strategies, use them to classify the major pizza chains based on exploring the online ordering process, and then answer a few related questions. So lets dig in!
Instructions:
Refamiliarize yourself with the three main pricing strategies.
Review Section 5.2 in the text as needed.
Research actual pizza pricing for five different pizza brands.
Visit each site, identify your location, and simulate an order.
Price out a medium cheese or pepperoni pizza.
Proceed to payment, observing the selling process.
Record your pizza choice and final price (minus tax).
Execute your purchase as you see fit. (Note that you do not need to actually purchase the pizza.)
Create a forum post that includes the following:
A brief description of the three pricing strategies, from least to most expensive strategy.
Classifications of the five brands into the three pricing strategies: penetration, neutral, and skim.
For any of the three pricing strategies where you have multiple brands, rank the brands from least to most expensive.
Include the kind of pizza you priced out, your recorded prices, and any other pertinent notes.
Your classifications may differ from others. Thats okay.
Answer the following questions:
Did your perception of these chains pricing strategies change based on this exercise? If so, how?
For you, which of these chains represents the greatest value and why? Explain how each of the four Ps of the marketing mix contributes to your answer.
If you were to suggest two sales promotion strategies (Section 5.4) to attract more sales, for the brand that has greatest value for you, which two would you suggest? Why?
Name the promotional pricing strategy and explain why this is the best fit for the brand you picked.
Your initial post must be at least 350 words.
Be sure to properly cite your textbook as outlined in the Writing Centers APA: Citing Within Your Paper (Links to an external site.) guid.e.
