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2 pages/≈550 words
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APA
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Business & Marketing
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English (U.S.)
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Topic:

MARKETING MIX: PRICING STRATEGY

Essay Instructions:
THE COMPANY TO USE IS COMPUTER SCIENCES CORPORATION (CSC)!! THE COMPANY TO USE IS COMPUTER SCIENCES CORPORATION (CSC)!! PLEASE READ THE UPLOADED FILE, THIS ASSIGNMENT IS A CONTINUATION OF THE UPLOADED FILE! In SLP05, the objective is to conclude your study of the Marketing Mix by discussing Pricing of the organization you chose for your Session Long Project. Though treated as a separate activity, your discussion of your organization's pricing strategies should fit with the other strategies you have covered in SLPs01-04. 19) Describe the PRICING STRATEGIES and TACTICS of your chosen organization using the proper marketing terminology. Pricing strategies can be simplistically referred to as ?above-the-market (higher than competition); at-the-market (same as competition); or below-the-market (lower than competition). You also can use terms such as ?skim pricing?, ?penetration pricing? or other terms you will learned in this module. 20) Analyze the pricing strategies and tactics followed by your organization. Be as specific as possible and be sure to draw on Module 5 background materials in describing the INTEGRATION of the MARKETING MIX. (This is the same question as you answered for product, distribution, and promotion; but for pricing). 21) Briefly, explain if your organization has COMPETITIVE ADVANTAGE relative to PRICING. In addressing the questions, at a minimum use PRICING STRATEGY as your heading and use the CAPITALIZED and BOLD words in the sections as subheadings. Please answer these SLP05 questions by adding two to three pages to your revised paper that combines SLPs 01, 02, 03, and 04 and submit it for grading by the end of this module. You will only be graded on the information added to this ever growing paper. Here is the format that should be used for your SLP: PRICING STRATEGY (centered, bold, all caps) PRICING STRATEGIES AND TACTICS INTEGRATION OF THE MARKETING MIX COMPETITIVE ADVANTAGE/PRICING
Essay Sample Content Preview:

MARKETING MIX: PRICING STRATEGY. (COMPUTER SCIENCES CORPORATION)
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PRICING STRATEGIES AND TACTICS
Companies use different strategies that influence the pricing of their goods and services. Some companies depend on informed studies of internal cost systems to fix prices, while others prize their products at a level comparable to the competition. The pricing strategy has an influence on the quoted prices. Therefore companies must form innovative pricing strategies in order to compete effectively in the global market (Webster, 1995).
In order for CSC to compete effectively with its rivals, it must give its customers innovative and unique price options, such as performance-based fees, joint-investment contracts, and customized payment schemes. Performance-based pricing occurs when a company bases its fees on the cost-savings or improved revenues recognized by the customer as a result of an outsourcing contract. Joint investment contracts exist when a company accepts to be part of the customer’s risk in business (Ferrell & Hartline, 2008). The customized pricing schemes are also applied to motivate customers to outsource IT operations. By protecting the customers from the high costs produced at the beginning of a contract, CSC will be able to form a financially appealing option to their clients (Lamb, Hair & McDaniel 2010).
A skimming method is a good pricing strategy especially for a new product. A company is able to reach the market that is not responsive to the high initial price. The skimming policy will enable CSC to capture early profits, and then decrease the price to reach areas that are more prices sensitive. The company will also be able to recuperate high developmental costs more quickly (Ferrell & Hartline, 2008).
A penetration strategy is suitable when there is high price-elasticity of demand, threat of forthcoming competition, and chance for reduction in production costs as volume...
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