Pricing Decision Assignment Help | Pricing Strategy Coursework Help

Introduction As per Pricing decision assignment help experts, pricing decision is an important part of marketing strategy that is used by the organization to determine the value of its products that wants to sell in the market. The management takes the decision to decide the price of the products (Product marketing mix assignment help). Price is the fourth marketing mix variable that influences sale of products.

Penney’s Proposed New Pricing Strategy James Cash Penney is an American mid-range departmental store that sells several types of conventional merchandises such as Clothing, Footwear, Furniture, Jewelry, Beauty products, Electronics, House wares etc. Its departmental stores are located in downtown areas. It operates 1100 stores in the United States to remark consumer experiences (Sales Promotion Assignment Help). It has proposed a pricing strategy in which it slashed prices on all merchandise. Penny has reduced the prices of all of its merchandises at least 40 %. So the shopper does not take a long time to take decision of shopping any merchandise from the stores of Penney. At the same time, J.C. Penney introduced new “fair and square” pricing strategy that provides low price products. It also added new tags on all the products with special prices. The new tags indicate about the new price of the products. In this strategy, three types of tags are marked on all the items that have different color such as red, white and blue color. Red tags indicate about every day prices, white tags point to monthly value and blue tags specify about best price of the items. In addition, it uses simpler prices that are lower than last year prices. Apart from this, it advertised its low pricing strategy that reduced 40% price of the items. It does not contain rebate offers and sale dates to sell the items, but it prepared a price structure to create excitement in the customers towards purchasing products for its stores. The price structure includes regular prices, monthly prices and best prices that are released on first and third Friday of every month (Online Advertising Assignment Help). Thus, the above pricing strategy of J.C. Penney will be helpful for it to improve the sales.

New Pricing Strategy Will Work or Not The new proposed pricing strategy will work in the effective way. It is because; this strategy will prevent the price cutting by other retailers from unnaturally inflated prices. It will put everyday low price plan with some infrequent special promotion. It will be more effective for the economy of J.C. Penney due to increase in its sales. Increase in the sales of the organization, it will also enhance the profitability of the organization (Market Analysis Assignment Help). In addition, this strategy will reduce the need to promote its products for sell. Thus, it will be helpful to reduce the promotional and advertising cost that can be invested in other areas of development such as additional services for customers etc. At the same time, fair and square pricing strategy of Penney will also be effective to reduce the competition from the commutative departmental stores such as Target, Kohl’s, Wal-Mart, and Macy’s.

This pricing strategy will attract more customers towards buying the products that will help to be more capable departmental stores (Target Pricing Assignment Help). In addition, it will be helpful to make strong relationship with its consumers that make strong consumer base. The strong consumer base protects from the crucial competition and helps to get competitive advantages. On the other hand, an effective and low pricing strategy changing the buying pattern of the consumers, who are price and promotion conscious. These consumers purchase products from the place, where they have to pay fewer amounts for the products. With this pricing strategy, they can buy the products with a 40% discount on all the items (Marketing Strategy Assignment Help). It will help to increase trust of the consumers in its products and they believe that it is not charging more than other departmental store. Sales of the organization will be enhanced through low pricing strategy. The consumers prefer less cost products in place of more priced product.

Conclusion The above conversation by marketing case study assignment help experts can be concluded as that Penney has taken effective pricing decision to increase the sales. Penney also proposed an effective pricing strategy that includes low price products to serve its consumers. It is also analyzed that this pricing strategy is good for the consumers, who are attentive about price and promotion. Its segmentation, positioning and branding strategies are also balanced with this pricing strategy.   Get 100% Original assignment help of all subjects. You can get 24X7 assignment at USA/Canada Toll Free Phone: 001-877-839-9989 Australia Phone Number: +61-3-9088-1335 USA/Canada Toll Free Fax: 001-877-839-9989 E-mail: info@www.assignmenthelpexperts.com