Mini Sim 04 - Wk 3
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Franklin University *
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721
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Marketing
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Apr 3, 2024
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Decision Point: Laptop Bag Pricing Strategy For the laptop bag pricing strategy, your marketing team suggests focusing on Karen Kliff's upscale design of the bag. The laptop bag's design is sophisticated and unique because the laptop slides in and out of the side of the bag, unlike most other bags where the laptop slides in and out of the top. The materials, while also eco-friendly, are the highest quality. Which of the following pricing strategies would be best for selling the laptop bag? Select an option from the choices below and click Submit. m Psychological pricing: Setting a higher price to communicate the higher quality and I functionality of the laptop bag Dynamic pricing: Changing the price of the laptop bag based on perceptions of how much a consumer is willing to pay for an item at a specific time, competitor pricing, and other variables Promotional pricing: Temporarily setting the price low to create buying excitement and reencyv urgency ES You chose psychological pricing. This was the best choice, because setting a higher price may lead consumers to perceive this new product is of high quality or value, especially because your marketing team is hoping to create perceptions of an upscale, designer bag.
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