final project: market mix, price,

The pricing of this product, Old Vegas Light, needs to be on the moderate side, and at the same time done in a manner that does not under mind the company’s ability to turn a profit. For it is within the profit  that the company will be able to maintain the ability to stay a float and keep making the product that will delight the customer base of what we are after.

As it was stated in the product as well as the pitch and the promotion blogs, the target of the product is the x and me generation or to be more in tone the age range of 20 to that of 40+, as it was said in this range there is a large market of different walks of life and professions, so with this said the price needs to be set at a range that will not turn off the target buyer, as it is said in our text book (Marketing: An Introduction for Education Management Corporation, 10th Edition“The selling process consists of several steps that salespeople must master. These steps focus on the goal of getting new customers and obtaining orders from them. However, most salespeople spend much of their time maintaining existing accounts and building long-term customer relationships” 13 Personal Selling and Sales Promotion (page 26)

There are many things to consider in the pricing of a product it is more than just pricing better than the competition it is as the book says
 (Marketing: An Introduction for Education Management Corporation, 10th Edition The first step in the selling process is prospecting—identifying qualified potential customers. Approaching the right potential customers is crucial to the selling success. As one sales expert puts it, “If the sales force starts chasing anyone who is breathing and seems to have a budget, you risk accumulating a roster of expensive-to-serve, hard-to-satisfy customers who never respond to whatever value proposition you have.” He continues, “The solution to this isn’t rocket science. [You must] train salespeople to actively scout the right prospects.” Another expert concludes, “Increasing your prospecting effectiveness is the fastest single way to boost your sales.”²²13 Personal Selling and Sales Promotion (page 27)
With that being said the product is to be sold not in a normal six pack as it is in many other types of beer but rather in a 8 pack, this will give the buyer the idea of value, and as it is said in the text book

(Marketing: An Introduction for Education Management Corporation, 10th Edition  Product line pricing Setting the price steps between various products in a product line based on cost differences between the products, customer evaluations of different features, and competitors’ prices. 9 Pricing Understanding and Capturing Customer ... (page 29)

Where as it is that most of the products that are out there are, are in a 12 pack with the average cost of $12 to $14.00/ 12 pack and most of the non alcoholic beers are about $9.00/ 6 pack, this product will be the sum of $5.00 to $6.00/ 8 pack a little more than that of  soda, but this is not soda, and selling it in a 8 pack will give it a identity to the public

 (Marketing: An Introduction for Education Management Corporation, 10th Edition Brands are more than just names and symbols. They are a key element in the company’s relationships with consumers. Previous Page 7 Products, Services, and Brands Building Custo... (page 37 )

The product will be in a sturdy box to give support to the product and safety to the consumer.

(disclaimer: this product is not real and is done for a class project in the fundamentals of marketing class at The art Institute of Las Vegas)