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A project report on customer satisfaction
A project report on customer satisfaction
Product pricing and strategies
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The Boston Consulting Group (BCG) Matrix is used by organisations to analyse whether their performance is either high or low, and indicate their market growth or position on the market, which is similar to the product life cycle, of the introductory, growth, maturity and decline stages. Stars – represent a high market growth and high market share, and are leaders in the business world. The organisation would require a substantial amount of money to maintain its high market share; they are also cash users and generators. They are the main units in an organisation and this shows where the company should invest its money, as it is expected that stars become cash cows and they are to generate a positive cash flow. Question Marks – represents low market share and high market growth, at this stage the organisation will invest an enormous Once the product is accepted the organisation would experience a high growth rate. For example, PAX Yogurt Company which originates on Mount St. Benedict, is a local company which developed seven different flavours of yogurt into the market, they are: almond, guava, passion fruit, pineapple, soursop, strawberry, natural (plain) and vanilla. The primary objective was to meet the customers’ needs with a good quality product at an affordable price in order to return high sales and profitability for the company. It is imperative at this stage, that particular attention should be placed on creating strategies for pricing, place or distribution and promotion so as to establish a market presence and create a suitable demand for the product. Pricing strategies include price skimming and price penetration. It is advisable at this stage to employ the price skimming strategy for example, pricing the product at the highest point possible. Prices can then be lowered when demand starts to
The future for Champion Enterprise is extremely optimisticoptimistic; with some major changes the company can once again be successful.. The reason the company filed for bankruptcy was to take care of its deb...
Nevertheless, it must “defend” its current market share if not increase it, by maintaining premium quality and develop innovative products. The marketing mix strategies will effectively achieve targeted revenue and profitability in the near future.
You have asked me to analyze your plans for future growth and recommend the best form of business organization to accommodate that growth. I have also taken into consideration you’re your two main concerns of increased liability and ability to add investment in capital assets.
There are also other structures in place to estimate the system, express community priority value, and give a way to make very strategic and realistic investments in the “years” to come.
summary figures. The summary emphasizes those factors that will make the business a success. It must contain sound numbers
As we learned from Chapter 12, price must be carefully determined and match with firm’s product, distribution, and communication strategies. (Hutt & Speh, 2012, p. 300) Therefore, there should be a strong market perspective in pricing. In order to build an effective pricing policy, marketers should focus on the value a customer places on a product or service. One of the most effective ways to do so is differentiating through value creation.
However, because of its demographic it was losing a high customer base because of its prices. The text book Chapter 10 emphasized the importance of pricing and creating profit. The investor Marcus Lemonis showed the owners how to evaluate demand and the price sensitivity of their products. He introduce product that could be brought in with lower price points that would compete with their competitor and still crate the high-end prestige the company wish to create. Taking advantage of the income statues of the company’s customer with in their demographic. One major problem the company had was the price point of a bag of dog food was around $100 per bag that was a high price for the consumers within the area. By bring in a brand that had high quality and prestige at a price point of $20 allowed for a greater customer
Orihuela and Smith [139] found a recurrence rate of 80% among patients who did not receive supplemental BCG versus a recurrence rate of 16.6% among those who did. However, an update of their series could not ultimately demonstrate a survival advantage with the addition of adjuvant BCG [111]. Rastinehad et al. [122] retrospectively studied 133 renal units treated by percutaneous resection for UTTCC. Eighty‐nine renal units treated primarily by percutaneous resection were then analyzed.
Currently, the company lacks of focus as it has a diverse product line with too many varieties of cheese products. With so many products it cannot be sure to decide as to which market segment to target in order to take the advantage of the growing market.
Stars are high growth products competing in markets where they are strong compared with the competition. Stars will become Cash cows as they are low-growth products with a high market share. Then they are mature, successful products with relatively little need for investment. These products then need to be managed for continued profit - so that they continue to generate the strong cash flows that the company needs for its Stars. Question marks are products with low market share operating in high growth markets. This suggests that they have potential, but may need substantial investment to grow market share at the expense of larger competitors. The dogs are products that have a low market share in unattractive, low-growth markets. Dogs may generate enough cash to break-even, but they are rarely, if ever, worth investing
It outlines the interconnection of a company’s financial and non-financial elements and aims to combine them and show value creation and maintenance. It identifies resources and their effective and responsible usage. It intends to create a dialogue between the shareholders and other stakeholders and provides them with detailed information.
The BCG matrix is also a matrix that is used for the purpose of strategy formulation of a firm, but it is a four cell matrix. It is used to measure the position of a firm in relation to its relative market share as well as its market growth. In case of these two being high a firm is classified as a star. In case of these being low they are classified as dogs. In case of only a high market growth it is rated as a cash cow and in case of only a high market share it is rated as a question mark. Based on this t...
These are growing rapidly and thus consume large amounts of cash, but because they have low market shares they do not generate much cash. The result is a large net cash consumption. A question mark has the potential to gain market share and become a star, and eventually a cash cow when the market growth slows. If the question mark does not succeed in becoming the market leader, then after perhaps years of cash consumption it will degenerate into a dog when the market growth declines. Question marks must be analyzed carefully in order to determine whether they are worth the investment required to grow market share.
At the same time, Mensa, Inc. should invest in the financial services sector. By raising capital by selling both the packaging and forest production sectors, the company now has sufficient capital to become a major player in this sector with increase market share which will lead to increased profitability and cash flow.
...es for more than 40 millions people in the poorest areas in India. They reflect the company’s value and raise the voice of the company in India.