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Essay example - IMC PLAN For Door to Door Transportation Service
Pages 5 (1255 words)
IMC PLAN for Door to Door Transportation Service Contents Pricing Strategy 3 IMC Strategy 5 Customer Relationship Management 6 Reference 8 Pricing Strategy Double M is a door to door transportation service delivery and aims to address transport concerns for its three segment of target market…
Extract of sample
The target customers are concerned with “get” component and monetary price are not mainly of monetary concern. Thus Double M will adopt the pricing strategy based on the perspective of customer “Value is everything I want in a service” and adopts the prestige pricing strategy (Zeithaml, 550). Prestige pricing is a form of demand based pricing strategy which offers high quality services; Double M also aims to provide its target customers with high quality service along with a sign of status. The demand increases as price increases because it is believed that the costlier the service is the more value it has. Analyzing the customer base, it can be assumed that they are willing to spend in order to travel comfortably for daily activities, for their families and the senior members along with the institutional. Therefore the price charged will be high by Double M and will aim to provide value for its service to the target customers. If a normal rate of bus service is $10 assuming it to be the minimum fare, Double M would charge $20-$25 as its minimum fare for its door to door service and maximum would amount to $45 to $50 depending upon the distance and service. ...
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