Wednesday, June 12, 2019
Marketing plan Essay Example | Topics and Well Written Essays - 500 words - 3
Marketing plan - Essay ExampleSince the customers go to Pizza Restaurant for quality, changes in prices are non that important to them. Therefore the price elasticity of call for is not important in this case. Demand for the products and services would be influenced to the minimal design by price. The company is located in a rich city where the customers are richer than the customers in other parts of the country. Therefore the most influential demand factors are lifestyles and cultural considerations (Kotler and Keller, 2006, p. 65). The demand would be more influenced by price if the customers came to the company to get lower prices. However they purchase the products and services because the products and services verbalize quality of taste. 60% of the customers are from rich families who will be more concerned about the quality. Therefore demand in this case will not be affected by price to any great extent. Answer to Question 2 The unique selling proposition is the quality of products and services. Therefore the recommended determine strategy is premium pricing. This will ensure favorable perception among the customers (Armstrong and Kotler, 2005, p. 34). In this case, it is recommended that the management should maintain high prices in order to maintain the brand spirit which is the source of its unique selling proposition.