Product Pricing Ginger Ice Cream Essay Example

Product Pricing Ginger Ice Cream Essay Brief – Cool Cream Pvt Ltd owned by Somesh Sharma innovated a ginger ice cream and named it Adrak Ice cream. The concept of a ginger ice cream which would protect the throats of those who relish ice cream was well received during the market test. Current Pricing suggestions – GM Finance and R D chief– The price should be cost plus 100% profit Sales Team – Low price at the time of introduction so that the product is accepted in the market Othe concerns relating to pricing – Manufacturing manager was not willing to compromise quality to cut cost Purchase manager – cost for buying and storing ginger R D chief – the product will be copied and cool cream will loose the advantages and investments in developing the idea Recommendation on Pricing Strategy – 1. Value Pricing Approach – Value Pricing Thermometer – Objective value Perceived Value Product Price Cost of Goods Sold Product Price should be as much or lower than the perceived value of the product. It should also take care of the firms incentive to sell i. generate decent profits over the cost. Ice cream is not a very high end product where a small percentage change in the pricing will have a drastic effect on the the product price. Customer will still buy the product increasing the profitability of the company. In case of ginger ice cream, it’s an innovation and was well accepted in the test market. We will write a custom essay sample on Product Pricing Ginger Ice Cream specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Product Pricing Ginger Ice Cream specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Product Pricing Ginger Ice Cream specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Hence the customers will be willing to pay a premium for the same vis a vis the regular ice cream flavours in the market. Keeping up the good quality and the additional cost for the ginger storage, Cool cream should keep prodcut rice higher then the regular ice cream to take care of the increase cost and also the marketing cost to create awareness of the new product It will also have the first mover advantage to earn high profits and gain market share before the innovation is duplicated. A high profit margin will enable them to cover the cost of innovation and RD at the launch phase only. A low price startegy at the launch phase will result in low profits as the cost of production and marketing will be high. This will not cover the RD cost as well as the additional storage cost. Also the marketing expenditure to create awareness of the innovation will also wont get covered. After the product is duplicated even the market share will be diluted. Low pricing will not be a smart move at the launch phase. ntegrating Price with Other Marketing Mix Elements – Since the product is superior and well accepted in test market, cool cream should invest in marketing efforts to communicate the superiority / uniqueness to the potential customers. This will raise the perceived value of the ginger ice cream vis a vis normal ice cream. In turn, the high margins generated by the premium pricing funded that marketign effort.

Animals in Native American Myt essays

Animals in Native American Myt essays In Native American myths, animals are used to represent many things. Primarily, I feel that the use of animals in these myths are to teach us lessons. They act as humans while still dwelling in the animal world. They speak and interact with each other while thinking as a human would. The Native Americans had a great respect for animals. This is why it is animals that are the main characters in their stories and not humans. In the myth Rabbit Fools Alligator, the lesson is the struggle between strength versus intelligence. It shows us that being deceived can come at any cost no matter how innocent they may seem. The rabbit represents the smaller, seemingly weaker of the two, but shows the alligator trouble by surrounding him with fire and burning him. Native Americans told these myths so that humans could learn through them and relate to the issues at hand. In another story, The Underground Panthers, the idea of animal-human interaction plays a very important role. The panther tells the hunter that they are both looking for the same thing and that they should do it together. The hunter begins to understand the panthers life and when he is put back into human society, he dies. He could only survive living with the panthers. In these stories, animals symbolize human nature and are there to teach lessons and prove points. They also show that animals and humans can come together and strive for the same needs. We are all similar creatures and all come from nature. Humans can learn valuable lessons from observing how the animals live and flourish. The conclusions about Native American Culture based on their animal myths are that the Native Americans have a great respect for animals, that they share common threads, possess similar traits and are a part of human nature in how we work and live our everyday lives. Humans can learn from them in that we can see ourselves through these stori...