Business

Read the chapter 3 lecture (attached)

Instructions:

Business

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  • Refamiliarize yourself with the three main pricing strategies.
  • Research actual pizza pricing for five different pizza brands.
    • Visit each site, identify your location, and simulate an order.
    • Price out a medium cheese or pepperoni pizza.
    • Proceed to payment, observing the selling process.
    • Record your pizza choice and final price (minus tax).
    • Execute your purchase as you see fit. (Note that you do not need to actually purchase the pizza.)
  • Create a forum post that includes the following:
    • A brief description of the three pricing strategies, from least to most expensive strategy.
    • Classifications of the five brands into the three pricing strategies: penetration, neutral, and skim.
      • For any of the three pricing strategies where you have multiple brands, rank the brands from least to most expensive.
      • Include the kind of pizza you priced out, your recorded prices, and any other pertinent notes.
      • Your classifications may differ from others. Thats okay.
    • Answer the following questions:
      • Did your perception of these chains pricing strategies change based on this exercise? If so, how?
      • For you, which of these chains represents the greatest value and why? Explain how each of the four Ps of the marketing mix contributes to your answer.
      • If you were to suggest two sales promotion strategies to attract more sales, for the brand that has the greatest value for you, which two would you suggest? Why?
        • Name the promotional pricing strategy and explain why this is the best fit for the brand you picked.
      • Your initial post must be at least 350 words.



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