Pricing

Overview:

The marketplace is filled with many products and brands. Unilever is a company that produces personal care items such as Suave shampoo and distributes them to a vast array of retailers. The retailers, in turn, offer the product to consumers. Sometimes, the consumers are end-users of the shampoo. Other times the ‘consumer’ maybe another store which will, in turn, re-sell the product. In this assignment you will examine why retailers adopt the pricing strategies they do as well as various consumer shopping habits.

Instructions:

Choose a product you buy on a regular basis. Examples could include food products, gasoline, health and beauty items, etc. Find this product for sale at three different locations. This can be online through Amazon or another online retailer or in a traditional store. Develop a chart that identifies the product you are researching, the companies you visited which sell them and the price each of the retailers is charging for the product. Make sure you are comparing the same size and quantity of each. For example, if you are comparing Suave shampoo, you want to find the same type and size of Suave shampoo to compare. You will evaluate the pricing factors and strategies for this product.

Provide an introduction to the company, the needs/value they are serving, their target customer and the social media platforms they are utilizing. If they are using multiple platforms, list them here and then choose 1 to evaluate in the next section.

• Start with an introduction paragraph that Introduces and describes your product and why you chose this product.

• Develop a chart that identifies the product, companies you visited which sell the product and the price for each.

• Explain why you think there are price differences for the same product at different stores. Include at least 2 of the external and 2 of the internal factors which might be affecting the companies pricing strategies.

• Describe why consumers might decide to purchase the higher-priced item even though it can be purchased less expensively somewhere else.

• Conclude your paper with an overall assessment of what you learned from this comparison. What