Concept explainers
Case summary: Brand LU has immediately ascended to the highest point of a yelling market that it assumed a noteworthy job in defining. With roughly 400 stores far and wide, Brand LU hawks its own brand of yoga-enlivened attire with its immediately conspicuous logo. But unmistakably more than selling garments, Brand LU stimulates a picture and a lifestyle. The organization oozes the rationality caught by its proclamation. Certainly, this brand is about dynamic, sound, back-to-nature lifestyle and is not modest about saying as much. That picture, complimented by a "no discounts" philosophy, has a fanatically faithful customer base willing to purchase everything Brand LU with no worry about the high prices.
To Discuss: The reasons on whether Brand LU has achieved the identical level of success.
Characters in the case: Brand LU.
Introduction: Organizations manufacturing products and services need to set the cost for their item. Setting the price for a company's finished product or service is a standout amongst the most significant decisions a manager faces. Such decisions are called as pricing decisions.
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Check out a sample textbook solution- How does cost-plus pricing strategy affect the company's performance and how they benefit from this?arrow_forwardHOW WOULD THIS MARKETING CONCEPTS AFFECTS THE PRICING STRATEGY OF THE COMPANY?arrow_forwardChoose a consumer product with which you are familiar. For that product, discuss its pricing strategy. What other strategies could work for that product? Did the company use cost-plus, full-cost, or incremental cost in its strategy?arrow_forward
- Which pricing strategy (or maybe a combination of strategies) is best for your product/service? Why? How did you come to this conclusion? What price will you offer your product(s) or service for exactly? Will you use any promotional strategies?arrow_forwardCould Lululemon have achieved the same level of suc- cess had it executed an alternative pricing strategy?arrow_forwardWhat is meant by pricing? Describe any three strategies that can be done by firms if they do not want to increase the price of a product.arrow_forward
- MarketingMarketingISBN:9780357033791Author:Pride, William MPublisher:South Western Educational PublishingPurchasing and Supply Chain ManagementOperations ManagementISBN:9781285869681Author:Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. PattersonPublisher:Cengage Learning