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To complete this exercise, students need to understand and be able to apply knowledge of:Using Apple Iphone as the case Product, General pricing approaches Selecting
To complete this exercise, students need to understand and be able to apply knowledge of:Using Apple Iphone as the case Product,
- General pricing approaches
- Selecting a price (includes comparing competitive products)
- Break-Even Point
- Selecting retailers for a target audience
- Retailer-specific promotion (i.e., in-store)
INSTRUCTIONS - COMPLETE BEFORE WEEK 12 CLASS
- Gather this information:
- Brand's general pricing approach. If the brand's general pricing approach cannot be determined, consider the best pricing approach for the new product.
- Current pricing of the original product.
- Identify one version or quantity of the product sold in three (3) retail stores (i.e., one 400 ml container) and record the regular price in each store.
- Estimate the average market price for the product by calculating the average price across the three stores.
- Current pricing for competitive products.
- Identify three (2) potential competitive products for the new product.
- Identify the price of a product quantity or format as you intend to use for the new product.
- Repeat the calculations you did for the original product, with the two competitive products.
- Record the price of each competitor in each of the three stores and the average price of each competitor across the three stores.
- Identify two retailer types that sell the original product. Use the following list of retailer types as a guide.
- Spend time organizing your thoughts and ideas.
- One page (8.5x11, both sides) of written/typed notes (not photocopied) is allowed in the evaluation. Notes must include your name and student number.
Convenience Retailer | Scrambled Merchandise Retailer |
Department Store | Specialty Retailer |
Drugstore | Services Retailer |
E-Tailer | Supermarket |
Off-Price Retailer | Warehouse Retailer |
INSTRUCTIONS IN WEEK 12 CLASS
- Attend class as usual.
- Following the lesson, 60 minutes will be provided to complete the exercise.
- The exercise is completed in eConestoga - Quizzes (Course Tools).
- Read questions carefully and use marks allocated to guide responses.
- Once complete, submit the exercise.
- Evaluation notes will be collected when the exercise is completed.
- In-Person Classes: Notes will be collected by your instructor.
- Online Synchronous or Asynchronous Classes: Email your notes to your instructor within 24 hours of completing an exercise.
ACADEMIC INTEGRITY PROTOCOLS
- Lockdown Browser (and Respondus Monitor online classes only) is/are enabled.
- A zero grade and the filing of an academic warning/offence may result if:
- Text included in the report is copied from external sources without paraphrasing/quoting, and.or citations and/or references are not provided.
- Any artificial intelligence tool or application is used in creating the submission.
- Evaluation notes are not provided to your instructor as required.
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