MARKETING DISCUSSION BOARDS
Businesses and pricing strategies
Bentley Motors uses premium pricing as its primary pricing strategy. The company manufactures exceptional luxury vehicles, which makes this strategy the most appropriate. The company can create the prices of these cars artificially high to establish a particular perception of the quality of the vehicles among target customers (Rachlin, 2019).
Motorola relies on a skimming pricing strategy. The choice of this strategy enables the company to set relatively high initial prices for its products and reduce the costs over time. Motorola is the first mover company that faced zero to little competition.
Kohl’s combines both the economic and promotional pricing strategy as its primary strategies, and the company’s target market is middle-aged women who keep shopping for their families. Rachlin (2019) asserts that offering these customers rewards and discounts creates a low-cost structure that centralizes buying and purchasing.
Dish Network uses a blend of economic and competitive pricing. Dish Network invests in a business with many competitors; therefore, it has to set its price within the region’s economic level. The use of these pricing strategies will enable the company to remain highly competitive among its target market, which constitute majorly people who frequently purchase from various foods outlets.
Reply to other student’s student’s post: Bentley Motors manufacture and sell expensive cars, and this means that premium pricing will be useful in attracting the desired target population. Motorola was among the first companies to venture into the mobile phone industry; therefore, the use of a skimming pricing strategy would be highly beneficial in creating an excellent selling point for its products. Kohl’s use of two pricing strategies, economic and promotional strategy, is appropriate in ensuring that the business meets the needs of women who buy items often for their families to maintain their economic level. Dish Network uses both financial and competitive pricing strategy to ensure that it remains at the leading position in the highly competitive market. The market in which it operates is highly competitive and requires relatively flexible pricing, which is capable of observing the price sensitivity in their customers.
Businesses using celebrities to endorse their products
In an attempt for Diet Pepsi to reach a large teen population between 12 and 19 years, I would recommend Kelly Clarkson. Kelly Clarkson having started her music at the age of 8 years, is most suitable for interacting with these teens freely as she understands their needs. She holds a series of talent shows which bring together many teenagers of diverse cultures. She can use the platform to promote Diet Pepsi to the audience.
Social media would be the most appropriate media channel for Kelly Clarkson to appeal to the target market. Many teenagers of these ages use social media platforms such as Facebook, Instagram, and Snapchat frequently. Getting the Clarkson to endorse the Diet Pepsi will require a cost-benefit analysis discussion with her. I will present the intention to her, initiate a debate, and negotiate on the suggested strategy. The resolution of the study will ensure a win-win engagement with Clarkson and ensuring she willingly agrees to take up the role of promoting the product.
Burger King and the use of social media
Burger King should be utilizing both Facebook and Instagram. The two platforms provide the brand with a platform to post both photos and videos of their products. The target market for Burger King is young people who spend more time on Facebook and Instagram (Fowell, 2019). Interestingly, the target group does not enjoy reading lengthy posts, but their decisions on the choice of a product rely on the first impression of the product. Scrolling through an Instagram page enables a potential customer to view the photos and may end up buying the product.
Based on the engage strategy, both Facebook and Instagram will use the available business tools on these platforms to reach the target audience. The two platforms will keep artistic posts on various products and trends in related businesses to provide the first impression to the target population. The choice of the engagement strategy is to ensure that the brand interacts with the target customers freely. The engaged approach provides an interactive platform that enables Burger King to address the concerns of the followers. The satisfaction of the followers directs their decision to use the brand.
Coca-Cola classic and competitors
The two critical competitors of Coca-Cola Classic are Red Bull and Diet Pepsi. Red Bull offers energy drinks and sports drinks. It also adopts the pub culture as it is possible to mix it with other beverages. Diet Pepsi provides diet soft drinks. There has been intensifying concerns about the high sugar content in traditional drinks, and Diet Pepsi provides an alternative. Many consumers have become sensitive to the foods and drinks they consume and, therefore, Diet Pepsi, which has a low level of sugar content, emerges as a preferred alternative for healthy beverages.
Coca-Cola Classic has a unique selling point of creating intimacy with its customers. It evokes the consumers’ memories and experiences (Gupta, 2011). It focuses on enhancing the positive reality among its consumers with an intention involving them in its creation. It resonates with happiness, which is a critical aspect of life for many consumers. The product is superior to those of its competitors, and it is readily available to consumers at a relatively low cost. The product also provides low content sugar as compared to other brands, which is essential in meeting the desire of consumers to live healthily.
References
Fowell, T. (2019, February 8). The brilliance of burger King’s social media campaign (And what we can learn from it). Business 2 Community. https://www.business2community.com/social-media/the-brilliance-of-burger-kings-social-media-campaign-and-what-we-can-learn-from-it-02166941
Gupta, S. (2011). MIR talks to Stan Sthanunathan, Vice President of Marketing Strategy and Insights, Coca-Cola Company. GfK Marketing Intelligence Review, 3(1), 58-64.
Rachlin, R. (2019). Pricing strategies and their impact on the profitability rate. Return on Investment Manual, 140-163.