Several major retailers have begun to test the extreme markdown strategy that lies behind popular dollar stores such asDollar General and Dollar Tree Stores. Kroger, Walmart, andothers have opened sections in selected stores that featureitems from snacks to beauty supplies, all priced at $1. Is thisexperiment simply a test of pricing strategy? What else mightmotivate these retailers to offer such deep discounts?

As Director of Pricing for a mid-market retailer, Mary is struggling with her retail pricing strategy. Marys’ struggles, however, are familiar themes across retail today, like ‘getting shoppers in her stores and still driving profits’. So what’s Mary to do? More work, late nights? More spreadsheets? More status quo, or is it time to take pricing innovation for a test drive?     For reference: https://youtu.be/HGhWnIb1nOY

Why do marketers use this ‘just-below’ pricing tactic?

What are some similarities and differences between skimming pricing, prestige pricing, andabove-market pricing?

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Explain working of following e-business models – using examples (a) Pricing Model (Name-Your-Price vs. Comparison Pricing)(b) Other Models (Bartering vs. Rebate vs. Free Offering)

Because of the internet, local retailers now also find themselves competing | with international retailers such as Amazon and Alibaba despite these international stores having to add shipping costs and duties. Assess what will make a consumer decide to choose a local distributor rather than an international one. Is it all about the price? Explain.

Why do marketets use trade or functional discounts,quantity discounts, cash discounts, and seasonal discounts in pricing to members of the channel?

Retail Price Comparison To demonstrate the wide variation in pricing of an identical item, visit three different stores online and compare prices on similar items. Please do not just get on Amazon and compare prices there for an item. Actually visit different independent store websites.  It might be really interesting to visit a local store's website and a national store's website, comparing pricing for the same item.    1.  Select a category of store. Some suggestions are: Grocery:   large chain store, local chain store, convenience store Health and beauty aids:   grocery store, drugstore, discount store Over-the-counter drugs:   chain drugstore, local drugstore, discount store Clothing:   specialty store, department store, discount store   2.  Select several items to compare in your category. For example, in the grocery category, you may want to compare a type of cereal, a canned soup, and a snack item. If possible, you might check prices at a local store…

Look through your local newspaper or any direct mail marketing pieces you can locate. Choose a product or firm and note the prices for different types of products. What do you think the firm’s pricing objectives and strategy are? What types of pricing methods are they utilizing?