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Marketing Assignment OVERVIEW Pricing is recognized to be a procedure of ascertaining what an organization will be getting by charging a consumer in lieu of an offered product. The price that prevails in the market for a specific time for a specific good or service is termed as market price.
Thus, pricing plays a central role in marketing. Grocery retailers are becoming the dominant player in the food chain in the United States (US) and in a number of other nations. Most likely the question is not whether retailers have the ability to influence to increase price, but rather the extent and the implication of that influence. Retailers adjust their pricing in response to the demand of the market along with cost factors. With these considerations, the paper intends determine the influence of pricing by different grocery retailers on consumers. WIDE VARIATION IN PRICING OF AN IDENTICAL ITEM The large chain store, the local chain store and the convenient store are different in size, concept and place. The large chain stores have their branches all over the world and usually are situated near chief market or posh areas, e.g. Wal-Mart (Wal-Mart Stores, Inc. “Wal-Mart”).Wal-Mart always follows aggressive policies to fit in the low cost. Other large chain stores such as Albertsons, Kroger and Kmart Super Centre among others always follow low price strategy to attract huge mass of consumers. On the other hand, local chain stores have their branches situated over the local regions and can be found in both urban as well as rural areas. ...
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