Do the pricing after reading the case. Subject: Strategic Marketing management

How Would You Price This Product? Exercise I Janet has operated a very successful fast casual restaurant chain called "Lasagna Come Out Tomorrow" for many years. Looking for ways to grow her business, and after receiving thousands of requests to make her lasagna more broadly available, Janet has decided to launch a frozen 5 lb lasagna in the retail channel. Janet's lasagna is a slightly more premium than existing products in the category both from the quality of the ingredients and the feedback from the market research on taste, mouth feel, and visual appeal. Janet also recognizes that her brand awareness and image is not strong in retail channels and, while she will be advertising her product in mass and social media, she doesn't have the financial resources to invest enough money to quickly change this. Finally, she would like to quickly build market share so that she can introduce other related products. The product has a variable cost, which includes cost to manufacture and package the product, of $4.25. Note that this excludes fixed marketing and overhead costs as well as any profit. Janet has determined that she needs a minimum contribution margin of 40% to achieve her return-on-investment goals. She has also learned that retailers want a minimum gross margin of 35% but to get their support given that her brand is new to this channel, Janet believes that she needs to be a bit higher than this Janet's "Lasagna Come Out Tomorrow major competitors are: . World's Best Lasagna $11.99 30% unit market share Vicky's All-Natural Organic Lasagna $14.995% market share Denunzio's Delicious Lasagna $11.79 20% unit market share . Private Label (store brand) $9.99 15% unit market share . Mindy's Magnifico Lasagna $12.99 10%% unit market share . Shawn's Saucy & Spicy Creation $12.49 15% unit market share Note that all products are the exact same size. What price would you recommend "Lasagna Come Out Tomorrow" be sold for in retail stores and why