Marketing Plan Phase Ii

Marketing Plan Phase II

Marketing - MKT/571

July 8, 2010

Marketing Plan Phase II

The Slim-30 Fade-Away Stretch Mark Creams, which has a location in Sacramento, California, offers a solution for reducing unwanted age marks while distributing weight gain. This product is an addition to the existing invention and its purpose serves as a catalyst to a demanding society. Although the needs for this product are apparent, it is not as unproblematic to put into operation. The aspects of a new product can be challenging to market. Slim-30 must evaluate its marketing channel strategies and find a way to enter the foreign markets with a superior outcome. Slim-30 will demonstrate price strategies, distribution for the domestic markets, select a country for international markets, and describe the pricings and distribution in the foreign markets.

Detailed Pricing Strategy

Pricing a product can be a challenging task. Marketing managers should identify the initial price as the product move through its life cycle the price should show the products direction. Slim-30 will establish a high-quality positioning strategy that would help set a competitive price for this particular market. Of course, Slim-30 freedom in pricing this innovative product and its ability to devising a price strategy depends on the market components of the marketing mix.

Pricing Strategy

The company must follows strategies to ensure good pricing for this product. These strategies include penetration pricing, price skimming, and status quo pricing. The Slim-30 product will be using status quo pricing. This means that Slim-30 will be charging a price similar to its competitor’s price. The price will be based on how people value the product and the current situation of the market. According to Anderson, Wouters, and Van Rossum (2010),” practicing value-based pricing means finding out what the value of their offering is relative to alternatives for their customers and then charging as...