You have been hired as a marketing manager for NuTech Appliance Company. The company manufactures major home appliances, such as refrigerators, stoves, and dishwashers. NuTech is about to add a new dishwasher to its lineup. The new appliance will have standard features, appearance, and quality, except that it will be considerably quieter than similar models from the competition.

The president of the company, Marta Feliz, has asked you to prepare a memo describing the factors you believe the company should consider in pricing the new product.

Required

Write a memo to Feliz. Describe the measurement or measurements you would hope to maximize through a pricing decision. Then explain what factors should be considered, including information from within and outside of the company. Describe estimates that you would want to develop before making a final pricing decision.