1.You own an import company and you sell into Supermarkets. You import rice from Australia. You buy in bulk and repack, locally. Your rice costs you $5.00 per kg, landed into your warehouse. You sell the following pack sizes - 500g, 1.0kg and 3 kg. You have 2 market competitors. One is a local rice grower and the other competitor, also import their rice from a different country to yourself. They sell the same pack sizes as yourself.

Question - assuming your repacking costs are only $1.00 per kg, nominate 3 different pricing strategies you can use and show your prices under each strategy. Explain why you have used these strategies and how they have influenced your pricing strategy