Malunggay Protein Powder, Pricing
Autor: testing1361 • March 4, 2015 • Business Plan • 1,633 Words (7 Pages) • 924 Views
2. Pricing Strategy
Pricing Objectives | Strategy to Comply with Objectives | Program |
To position and retain Green Mass’ image of an affordable protein workout supplement | Apply Market Share Leadership concept to obtain a larger market share and maintain the product’s positioning | Setting low prices to cover the expenses of the business would bring forth an affordable image as well as allow the business to grab a larger market share |
To increase awareness of the product as well as support the business as it enters the market with its product | Apply Penetration Pricing by offering lower prices in order to attract price sensitive buyers. | By providing low prices and new benefits from the product, the product will be able to catch the attention of the price sensitive market and allow it to have a smoother entry into the market |
To bring higher profits by increasing sales especially in the succeeding years of operations | Continue with the overall low cost strategy and differentiation to attract more consumers. | Selling at different prices in the future depending on the market segment would bring additional profit. Offering a trial product, which has a smaller size (1 pound), to the Philippine market could also be beneficial in achieving a larger market share |
- Detailed Product Costing and List Price
(To be moved to sales projection)
1. Total Number of People aged 15-34 in NCR | |
Age Group | |
20 - 24 | 1,042,700 |
25 - 29 | 926,700 |
30 - 34 | 935,100 |
Total Number of People aged 15-34 in NCR | 2,904,500 |
Percentage of People in BC1 Social Class | 10% |
Total Population from Age Group of 15 - 34 in NCR | 290,450 |
(census.gov.ph; SWS Survey, 2009; Pulse Asia, 2009)
The first step in procuring our target market population is to obtain the total population within our target age bracket and social class. According to the National Statistics Office, there are 2,904,500 people aged 15-34 in the National Capital Region as of 2015. The proportion of people within the BC1 social class is 10%, and the data was obtained from a Social Weather Stations’ survey that cited Pulse Asia as a source. From this, we obtain the total population from the age group 15-34 within the BC1 social class, which is 290,450.
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