Using companies Coca Cola and Sara Lee, look at all of the social media platforms these companies use (e.g., Instagram, Twitter, and YouTube). Analyze what is being said about pricing either by the company or customers on these platforms, using the following questions. Answer the questions below. How much is pricing discussed? Provide specific examples. Is pricing mentioned by the company, social media users, or both? Is pricing discussed on social media by one company more than the other? If so, why do you think this is? If you worked in marketing for either firm, is there anything you have read on social media that would make you consider changing the price of that company’s products? Explain your answer.
Customary Pricing
There are various types of pricing strategies followed in the market. They are psychological pricing, odd pricing, free onboard pricing, customary pricing, prestige pricing, dual pricing, ruling pricing, negotiated pricing, mark up pricing, etc. each one can be explained as follows:
Multiple Unit Pricing
“Multiple-unit pricing is a practice where a company offers consumers a lower than unit price if a specified number of units are purchased.”
Using companies Coca Cola and Sara Lee, look at all of the social media platforms these companies use (e.g., Instagram, Twitter, and YouTube). Analyze what is being said about pricing either by the company or customers on these platforms, using the following questions. Answer the questions below.
How much is pricing discussed? Provide specific examples.
Is pricing mentioned by the company, social media users, or both?
Is pricing discussed on social media by one company more than the other? If so, why do you think this is?
If you worked in marketing for either firm, is there anything you have read on social media that would make you consider changing the price of that company’s products? Explain your answer.
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