Discuss the role of price in the marketing strategy for Rolex watches. Contrast Timex’s price strategy with Rolex’s strategy.
Answer to relevant QuestionsSuppose a firm is considering changing from a low-active price strategy to a high-active strategy. Discuss the implications of this proposed change. Cite examples of businesses to which the experience-curve effect may not be applicable. What influence may this have on price determination? Discuss how Godiva Chocolatier’s website (www.godiva.com) corresponds to the brand image portrayed by its retail stores. What are the promotion objectives that Godiva’s management seems to be pursuing on the website? Identify and discuss the important differences between advertising and sales promotion strategies in promotion strategy. What information does management require to analyze the selling situation?
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