Write a post for the Discussion on this topic, addressing the questions below. You may use either written paragraph or bullet-point format. Part 1 should be 2–3 paragraphs in length or an equivalent amount of content in bullet-point form. Responses to your classmates’ posts should be 1–2 paragraphs or several bullet points in length.
As with the previous Discussion Forums the first post is due by Wednesday night and the reply posts by the due date. We are now well into the class. It is expected that you participation on both the primary and reply posts will be extensive. This is an opportunity to help class members refine their research and approach.
Part 1: Pricing Strategy
Briefly describe pricing for your product or service. How does this compare to competitors, assuming competitors are at or near break-even point with their pricing? Analyze pricing alternatives and make recommendations about pricing going forward based on the following:
- How sensitive are your customers to changes in price?
- What revenue you need to break even and achieve profitability?
- What does the price says about your product in terms of value, quality, prestige, etc.?