Target Pricing Assignment Help

Target Pricing Assignment Help: Should businesses use target pricing? Do you think target pricing can only be used for manufactured goods, or can it also be applied to services?

Use of Target Pricing As per marketing assignment help experts Yes, businesses should use target pricing. There are various arguments and thoughts developed in favor and opposition of target pricing.

Both the positive and negative points have their own implications for the sellers or manufacturers. In other words, it can be said that it depends on the buyers and sellers to decide and use target pricing. It is so, as by using target pricing, it becomes easy for the marketers to cover labor hours and material cost. By using target pricing, it is also easy for the businesses to offer a custom product that is made on the basis of specifications. Furthermore, businesses should use target pricing in those cases, where the buyers do not purchase a variety of items or products. It is so, as in these cases, buyers are not technical experts. As a result of this, the buyers cannot decide what the price of their items will be. So, to know the price of a variety of items, buyers ask suppliers for quotes.

Along with this our business assignment help says that, by using target pricing, the buying organization can understand the involved cost. So, it can be argued that when buyers have expertise in a product category, they can set their target pricing without taking quotes from the suppliers. Hence, in these cases, use of target pricing is feasible or justified. In order to promote competitive advantage for sides, organizations or businesses should adopt methods to reduce the target pricing over the expected life of the product. To earn a reasonable profit, it is essential for the manufactures to use target pricing for its suppliers. In turn, suppliers to get expected rate of return should also use target pricing for selling their products to the final buyers or customers.

Decision: Target pricing can be used for manufactured goods rather than services. It is so, as, with manufactured goods, labor hours and material cost are involved that can be determined effectively with target pricing. In manufacturing goods, the total cost can be also calculated. Along with this, for other products, target price may be calculated on the basis of the period. It is so, as due to inflation, conditions of market keep changes in terms of involved cost. Due to these changes, cost of labor and fuel also changes. As a result of this, it becomes difficult for the manufacturer to cover the total cost involved in the manufacturing of goods. It can be argued that with an increase in actual cost from target cost, it becomes problematic for the manufacturer to cover the selling cost. For services, it is not possible to calculate target pricing, as the labor cost and material cost are not involved in producing services like manufacturing goods. Along with this, in services, there it is not easy for the marketers to calculate the selling price without which it is not possible to calculate target pricing in order to get profit as per the expectations.

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