I need support with this Marketing question so I can learn better.
Week 3 Discussion 2
“Communicating Price” Please respond to the following:
- Use the Internet and/or Strayer Library to research what your favorite retail store is doing in the four areas of price perception (proportional price evaluations, reference prices, perceived fairness, and gain-loss framing).
- Compare and contrast the store’s methods of price communication as they relate to the strategies shared in Chapter 3.
- Propose a plan that provides specific ways for the selected retailer to improve in the four aspects of price perception.
AND respond to these posts directly:
- phi210week3discussion1 RESPONSE:
WashingtonThe example of an enthymeme in the media that I found is:
Beauty: When the Other Dancer Is the Self (By Alice Walker)
“My parents decide to buy my brothers guns. These are not ‘real’ guns. They shoot ‘BBs,’ copper pellets my brothers say will kill birds. Because I am a girl, I do not get a gun.”The implied premise is that girls do not get guns.I chose this example because it shows that even without a major premise, she is able to convey the reason why she doesn’t have a gun.
Have a great week!
mkt402 week3discussion1 RESPONSE:
RE: Week 3 Discussion 1
Hello Professor and Class!
A consumer is in the market for a new mattress, her current is over the standard eight years, and every morning back pain is imminent. When the consumer goes on a search for a new mattress, bombarded with hundreds of options. Nectar is one of the companies she looks at and starts researching deeper.
Nectar offers a mattress that they claim ultimate comfort for every sleeper (side, back, or stomach). One of the biggest challenges for any mattress company is that a consumer would not know the psychological value by looking at the product. The way that Nectar has addressed this challenge is by offering a 365-night home trial. If for any reason, in the first year, the customer is not satisfied, they can return the mattress for a full refund. Another selling point that addresses this challenge is that all shipping and returns are free. Nectar is not alone in the online mattress experience; there are at least two reputable companies in direct competition. Casper and Purple are the top two in which Nectar directly competes. To overcome this challenge, Nectar displays a comparison chart showing why the consumer should choose Nectar. Nectar offers their 365-night trial while Casper and Purple only offer 100 nights. Nectar offers a forever warranty while Casper and Purple only offer a warranty of ten years. To further push the consumer to become a customer, Nectar offers two free pillows, free sheets, and a free mattress protector. The price of a Nectar mattress (queen) comes in almost $300 less than its competitors, making it the most affordable mattress of its kind.
In the end, the consumer on the market for a new mattress has made her choice. She has found not only psychological value but also monetary value in her search. She was able to find information about the other mattresses she was interested in without leaving the Nectar page. Nectar’s tactics of exposing the strengths it has over its competitors gained them a new customer.