Honda Pricing Strategy Essay

“A satisfied customer is the best business strategy of all” (LeBoeuf, M. n.d.). The introductory citation by American Businessman Michael LeBoeuf captures the nucleus of this essay. In which, the focus of this paper will be the pricing strategy of the Honda Automobile Corporation. This assignment will deliver a brief overview of Honda’s prices in comparison to their competitors. Next, my thoughts on how Honda forms their prices. Finally, a condensed dialogue of three pricing strategies and my thoughts on whether or not, these strategies are utilized by Honda. Therefore, let’s commence this essay by providing a compact overview of Honda’s prices, as opposed to their rivalry.

Price comparison:

In my research, I visited the TrueCar.com website and compared Honda’s CR-V prices of dealer’s in my area to that of the manufacturer’s suggested retail

This is how we make sure that our deals are the best deals” (friendlyhonda.net. n.d.). From, want I could gather from the preceding extract regarding current ‘Market Based Pricing.’ It’s my estimation that this concept is similar to that of value-based pricing. “Value-based pricing and marketing is a business strategy in which a company sets prices and promotes products based on the value consumers perceive a service or good to have. It is an alternative to other forms of pricing, such as market, product cost, competition or historical” (Thibodeaux, W. n.d.). As alluded to by Wanda Thibodeaux from Demand Media, one may make the determination that both value-base and market-based pricing, is one in the same. Under these circumstances, this takes into a brief dialogue of three other pricing strategies and my thoughts on whether or not Honda employs these concepts.

Other pricing