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As the business progresses, the management wants to increase their number of customers. Give your recommendations for a pricing strategy.

You can approach this type of case in three steps:

1. Investigate the company NIKE SHOES

2. Investigate the product NIKE SHOES

3. Choose a pricing strategy based on your investigation NIKE SHOES

1. Investigate the company NIKE SHOES

Get a feeling for the business of the company: NIKE SHOES

What products does the company sell and where does the company stand in the market? For instance, is the company a market leader? In terms of volume or quality or both?

What is the companys key objective? Profits? Market share? Growth? Brand positioning? Competitive response? Make sure to clarify the objective before starting the analysis.

2. Investigate the product NIKE SHOES

How does the clients product differ from competition? How does the production differ? What is its Unique Selling Point (USP)?

What are the alternatives or substitute products?

At what stage the product lies in its lifecycle?

Are the supply and demand foreseeable?

3. Choose a pricing strategy NIKE SHOES

The choice of a strategy depends on the information gathered in the first two steps. There are three major pricing strategies:

(1) Competitive analysis (benchmarking): In this strategy, the price based on the price our competition charges. Therefore, you want to investigate:

Are there comparable products/services?

If yes, how do they compare to the clients product?

(2) Cost-based pricing: This strategy bases the price on the cumulated costs per item (break-even) plus a profit margin. Therefore, you need to know the clients cost structure. This strategy is now considered outdated. However, it is important to know the clients' cost structure before choosing a price.

(3) Price-based costing (or value-based pricing): This strategy is based on determining the "value" of client's product or the amount customers are willing to pay. This approach is similar to competitive analysis in that you can generally determine customers willingness to pay from prices of different substitutes. Keep in mind that different customer segments may have a different willingness to pay for client's products, implying that the client could charge different prices to different customers segments by changing the "value added" to justify the changes in prices.