Create a detailed analysis of the price for a new line of products.
Red Bulls marketing manager has tasked you with preparing a plan for introducing a new product line of energy drinks with a coffee flavor.
You’ve already received positive feedback on the product and place analysis you’ve conducted. Now you’re being asked to submit a detailed analysis of the price for this new line of products. You’re feeling good about the work you’ve done so far, but you know the overall marketing plan isn’t complete yet, and that your pricing analysis needs to be thorough and support the earlier product and place analysis you developed.
Companies need to decide which pricing approaches and strategies they will apply in order to both make a profit and make the price attractive to the final consumeryou. If the price is too high, Red Bulls sales could drop, and if the price is too low, its profits could be impacted, since there are competitors in the marketplace. Since Red Bull is the market leader in energy drinks and is now marketing a new line of coffee-flavored energy drinks, please examine their pricing strategy and provide your recommendations.
Create a price analysis in which you do the following:
- Accurately describe the pricing strategy of Red Bull in relation to their competition.
- Which pricing strategy does Red Bull use, and how does it compare to similar products in the product category?
- Which pricing strategy is being used to effectively create a competitive advantage?
- Describe the price strategy and its effect on business success.
- Explain whether Red Bulls pricing strategy maximizes profitability or market share?
- What recommendations can you make regarding Red Bull’s pricing decisions that may improve business success for the new coffee flavors?
- Examine the pricing strategy’s impact on the economic success of the company.
- Describe the effect of the pricing strategy on the overall success of the company.
In the analysis:
- Incorporate information from one other source related to the content of the assessment. Cite any resources you use.
- Be sure your analysis presents a focused purpose through strong organizational skills. Also, be sure it presents evidence through strong paraphrasing/summarizing, appropriate tone, and sentence structure.
- Written communication: Communication should be clear and well organized, and support a central idea, with no technical writing errors, as expected of a business professional.
- References: References and citations are formatted in a consistent style, using APA. See the Campus page . Also refer to the , which provide basic formatting and APA guidelines you should follow to create attractive and usable documents not just within your business program but in the workplace as well.
- Resources: Incorporate information from one other source related to the content of the assessment.
- Length of paper: Approximately 24 typed, double-spaced pages, in addition to the title and references pages.
- Font and font size: Times New Roman, 12 point.
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