Product Mix Pricing and Price Adjustment Strategies for FMCG Products - Prof. Singh | Assignments Fashion Business Basics

MARKETING MANAGEMENT

Que1) A company provides consultancy to all its clients on the Pricing of their products.

M/s Herbal Life sells various types of FMCG products in the urban market. They sell

toothpaste, multi-vitamin ayurvedic tablets, chia seeds, tulsi tea, herbal soap, shampoo ,

etc. The company has asked you to present various types of Product Mix pricing and price

adjustment strategies so that it can help them in taking pricing decisions for their

range of products.

Ans1) Introduction

All customers receive information on price from a business. In the urban sector, M/s Herbal Life

offers a variety of herbal items. We provide a variety of health and beauty items, including

toothpaste, chia seeds, tulsi tea, natural soaps, shampoos, and tablet computers with Ayurvedic

supplements. Instead, make an effort to engage with them meaningfully by writing about issues

that are important to them or taking part in debates. Numerous products appear to be a part of a

particularly extensive product mix. They fulfil a specific purpose in a product mix that may

include multiple products targeted at various situations. We must therefore appropriately position

our prices. This is addressed through a combined product pricing strategy. Systems have

specified basic pricing mechanisms for products in a product mix.

Discussion

The cost of the manufacturing line

Because businesses often expand product lines rather than single products, product line pricing is

crucial to pricing product offerings. Based on cost discrepancies between products, rival pricing,

and, most urgently, consumer assessments of the importance of particular functionalities in

product line pricing, a corporation establishes a pricing method between numerous brand names

in an assembly line. One can observe the relationship between the various items and their

associated costs by looking at Herbal as an example. Ayurvedic medications certainly appear to

be more expensive than shampoo and toothpaste. These assessments have been carefully

calculated. Best case scenario: you choose the price action.

Optional product cost

Along with the base item, a wide range of options and accessories are easily available. For

instance, ordering products with advantageous considerations and sophisticated products is

extremely possible when purchasing organic products. It certainly appear that this corporation is

having trouble valuing these alternatives. You need to carefully analyse what is included in the

initial price and what is optional. The purchase of optional and possibly side products in addition

to the primary product constitutes the profit margin of optional goods.

Pricing for Darband products

When a business creates a product that will be combined with its main product, the bundled

product price is over. On the other hand, while pricing alternatives, it is important to take into

account any additional goods that can be purchased and sold along with the base item. Examples

of pricing include toothpaste and shampoo. A variety of mixed product advertising and

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Que1) A company provides consultancy to all its clients on the Pricing of their products. M/s Herbal Life sells various types of FMCG products in the urban market. They sell toothpaste, multi-vitamin ayurvedic tablets, chia seeds, tulsi tea, herbal soap, shampoo , etc. The company has asked you to present various types of Product Mix pricing and price adjustment strategies so that it can help them in taking pricing decisions for their range of products. Ans1) Introduction All customers receive information on price from a business. In the urban sector, M/s Herbal Life offers a variety of herbal items. We provide a variety of health and beauty items, including toothpaste, chia seeds, tulsi tea, natural soaps, shampoos, and tablet computers with Ayurvedic supplements. Instead, make an effort to engage with them meaningfully by writing about issues that are important to them or taking part in debates. Numerous products appear to be a part of a particularly extensive product mix. They fulfil a specific purpose in a product mix that may include multiple products targeted at various situations. We must therefore appropriately position our prices. This is addressed through a combined product pricing strategy. Systems have specified basic pricing mechanisms for products in a product mix. Discussion The cost of the manufacturing line Because businesses often expand product lines rather than single products, product line pricing is crucial to pricing product offerings. Based on cost discrepancies between products, rival pricing, and, most urgently, consumer assessments of the importance of particular functionalities in product line pricing, a corporation establishes a pricing method between numerous brand names in an assembly line. One can observe the relationship between the various items and their associated costs by looking at Herbal as an example. Ayurvedic medications certainly appear to be more expensive than shampoo and toothpaste. These assessments have been carefully calculated. Best case scenario: you choose the price action. Optional product cost Along with the base item, a wide range of options and accessories are easily available. For instance, ordering products with advantageous considerations and sophisticated products is extremely possible when purchasing organic products. It certainly appear that this corporation is having trouble valuing these alternatives. You need to carefully analyse what is included in the initial price and what is optional. The purchase of optional and possibly side products in addition to the primary product constitutes the profit margin of optional goods. Pricing for Darband products When a business creates a product that will be combined with its main product, the bundled product price is over. On the other hand, while pricing alternatives, it is important to take into account any additional goods that can be purchased and sold along with the base item. Examples of pricing include toothpaste and shampoo. A variety of mixed product advertising and

marketing tactics use packed price options as an engaging technique. Initial suppliers of toothpaste and shampoo charge low costs and frequently mention the consumables needed to keep the original business running. Companies that employ this marketing mix pricing, though, should proceed with extreme caution. Striking the correct balance, particularly with regard to central and peripheral product prices, is a concern. Customers who are immediately convinced to purchase expensive things may dislike the brand name that coerces them. . Price of a byproduct Byproduct pricing involves locating the lowest cost to increase the affordability of the leading organization's assessment. Eliminating these byproducts is often expensive and unnecessary. Critical goods now cost more as a result. However, the company hopes to use byproduct pricing to increase the price of its created assets while also finding a market for these byproducts to balance off the costs of disposal. The item's bundle cost The final method of product mix pricing is product package pricing. Businesses that employ product bundle pricing combine various products to offer a discounted package. A good example of organic items that can be packaged for sale and have all of the products available at reasonable prices. The best product mix price structure offered by the company is product package pricing. This gives you the opportunity to market goods and services that consumers would not or rarely use. However, the combined price must be consistently lowered enough to entice customers to buy multipacks rather than individual products. Conclusion When a product is included in a comprehensive mix, pricing becomes noticeably more difficult. This is so that all products and their pricing ranges can be considered. With each of these manufacturers' mix pricing strategies, we are unquestionably headed in the right direction. The pricing structure of a service has a significant impact on its growth and survival, luck and success, and brand reputation. The valuation should therefore be taken into account because it has a significant impact on the remaining business processes. Our revenue-sharing model is built on our pricing strategy. All business divisions can gain from pricing changes, and when those divisions change, so should our prices. Because it helps to demonstrate the value of having a quality product and the impact of its use on customers, price is important. Based on the price, consumers can decide if it's worth their time and money. Que2) Elaborate on various types of promotion mix that you will use for the Herbal Life products (as explained in the first question). The main idea behind the promotion is that it should become a household product like Patanjali or Dabur. Ans2) Introduction Sales of all-natural supplement have consistently increased over the past ten years, as has the Ayurvedic industry. The number of typical herbal medical providers has increased along with the overall sales of natural medical products, which have increased significantly. You need a constant Natural organic advertising strategy if you want your Ayurvedic products to stand out online. The approach intends to incorporate a number of digital distribution methods. Ayurvedic

engine optimization. As a digital advertising and marketing company in Mumbai, we provide services to customers in the Ayurveda industry based on our prominent placement in search engine results thanks to organic search engine optimization. Google may penalize your website if you use insufficient search engine optimization techniques. Your company profile and online visibility could both be seriously harmed by this. a user of social media social media is less expensive than conventional advertising and marketing, positive ROI or not. Online organic product sales are typically conducted by ayurvedic businesses. Conclusion In conclusion, marketing and advertising are essential to successfully operating and growing a business. The company increases market demand and increases our sales by doing this. Your target market should have been shown the advantages, uses, and worth of your service or product offering in your advertising mix. To achieve this, you must stand out from the competition and boost your revenue. Pick the ideal ratio of settled and unsettled ads. Although it may not resemble the marketing strategies of other companies, the effective strategy for Ayurvedic empires is to be organic, especially when it comes to paid projects. One of the key elements of the advertising and marketing mix is advertising. Que3a). Mr. Raj is planning to purchase a new phone with the latest features. Explain various steps involved for Raj in the decision process. Ans3a) Introduction Mr. Raj wants to buy a brand-new phone with the newest technology. There are many phones readily available from various brands at various price points, each one targeted at a different demographic. Raj will be guided by the researcher through a thorough process that will narrow his options to just a few, making his purchase decision much more manageable, and the researcher will go over all of the crucial characteristics Raj needs to be aware of. axel certified sensors on their smaller phones, but this does not mean that the photos will be of higher quality. The source code that controls the image sensor is perhaps just as important, if not more so, than the hardware itself. Conclusion The iPhone 13 Pro has three 12MP sensors, so taking a look at Apple's iPhone 13 collections is best for him. The iPhone maintains image quality and sharpness in comparison to Google's Pixel 6 smartphones, which have a 50MP main transmitter. Que3b ) Global Stock is an online app for the purchase of international stocks from the international market. Explain and elaborate any five ways through which you will promote the app online. Ans3b) Introduction Using the Global Stock application system, you can add funds to your portfolio from international markets. Online app promotion can be done in a variety of ways. Currently, there

are more than 35 million apps available on the App Store and more than 2.9 million on the Google Play Store. These figures are astounding and continue to rise. If you believe that app users will swoop in and switch to our app right away, assume that as well because the competition is fierce. .There are a few strategies I'll promote the app online.

Online Advertising in Social Media Its very effective way to reach to customers , People actively engage in social networks, interacting with friends and accounts they follow. And some of sites are Facebook adverting – I can create different type of audience like based on demographics age, interest and who are already engaged my content alos people who share interest with my existing customers. I can reach them with relevant content through video ads, story ads, lead ads a.Instagram adversting – its high visual platform making it the perfect place to highlight stocks and example of Sponsored Post where i will Promote one of the best international stock gains and its profits through global app as it gain more followers and showcase a product and will actively posting post the daily stock new through status, reels with good stories, pictures
Paid Search Advertising Online: This is continuing to be an important method of reaching new customers. This advertising works so well is that people who see your ads are already looking for products or services like yours, so they’re essentially pre-qualified leads. One of the Example is google ads allows you to advertise topeople searching on both Google and YouTube and create ads based on your goals
Subject matter experts/ Industry influencers Promotions: I'll organize workshops and seminars to raise understanding of the global stock market and its advantages in the marketplace and how Gloabal stock app will help them to achivetheir tarhet and also they can do a live Q&A with them on LinkedIn or Facebook to relsove their queires and we can ask them to Ask them to write guest posts on your blog. 4.Content marketing- it is worth creating relevant content on your website (e.g. on a blog) and on other portals such as YouTube or websites visited by your target audience. A customer who notices that the content you share is valuable, might become interested in your company, services and product
landing page for APP is wonderful approach to promote visitors, boost SEO, and build your brand.itwill Showcase all features of the app and Mention the app’s benefits, Have social media channels references, Show some best rates and app reviews from users ,Link

Product Mix Pricing and Price Adjustment Strategies for FMCG Products - Prof. Singh, Assignments of Fashion Business Basics

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MARKETING MANAGEMENT