Middle East College Price and Value Communication Questions Question 1 Communicating value and price is the most important capability necessary to enable

Middle East College Price and Value Communication Questions Question 1

Communicating value and price is the most important capability necessary to enable pricing strategies. Effective value communications require a deep understanding of customer value combined with a detailed understanding of how and why customers buy to formulate messages that actually influence purchase behaviors. Your product creates value but it may not be obvious to potential customers without good value communication.

You have started your job with Amouage company in Sultanate of Oman as a Marketing Manager. Your first assignment was to help the company to appropriately communicate its brand value for one of its product categories/lines to customers. Can you write a mini report that explains the steps in the value communication process that you will follow to provide good value communication to Amouge? Be clear and concise (Your answer should not exceed 2 pages, double space, 12 font Times New Roman).

Questions 2

Hypothetical scenario. The Nissan company has recognized that the sales for Nissan Sentra are falling whilst the market for a competing brand e.g. Toyota Corolla and Mazda 3 continues to grow at 10%. The Nissan Sentra was successful in the launch stage, gaining almost 20% of the market share in just 3 years. Nissan Sentra’s sales steadily increased in the growth stage. However, the vehicle sales declined sharply and is currently in decline stage.

(1)Should the Nissan company discontinue or withdraw the Sentra model and let it “die” or should the company try to extend the Sentra’s life? Justify your answer and provide details.

Question 3

Market skimming pricing, penetration pricing, loss leader pricing, and psychological pricing are four different pricing strategies.

(1)Give examples of two Omani companies and name some of their products for EACH type of pricing strategy. If you cannot find an example for Omani company/s that adopt(s) one of the strategies, suggest one for a particular company. Explain your answer for each example.

(2)Discuss the advantages and the disadvantages for each strategy.

(3)You may also support your answers by showing some advertisement images.

Question 4

You went for a Pricing Specialist job interview with company XYZ. The interviewer said to you that your transcript indicates that you had taken a course in Pricing Management. Can you discuss with us four key takeaways (key points that you learned) from this course? Elaborative on each point and support with some examples. Be specific in your answer. (Your answer should not exceed 2 pages, double space, 12 font Times New Roman).

Very Important:

Chapters to consider reading:

Ch. 3 – Price structure

Ch. 4 – Value communication

Ch. 7 – Pricing & PLC, in addition to the Kellogg’s case study
Ch. 8 – Pricing strategies

*** I’ve uploaded the other chapters through cloud storage, you’ll find them here:

https://www.dropbox.com/sh/lvfllfqsnqa7duw/AAB4kto1wLVX2vUBQtUNFQura?dl=0