I revised my question so it can be more understandable. Can I get the assistance coming up with a persuasive marketing eye-catching slide on Pricing for my project of a new dating app called Netflix, which I will match people with similar likes to TV shows and movies. Here is a copy of what my project is about, however, I only need to make slides for Pricing. Thank you for your assistance.

Principles of Marketing

Section 2: Marketing Mix

My Product

• What are the major product/service offerings of the firm? Do they complement each other, or is there unnecessary duplication?
  • Metflix is a matching app that connects users based on their Netflix viewing history, for both romantic relationships and platonic relationships. Using information from the Netflix database, we are able to pair users based on their shared interests, giving them a head start to starting a lasting relationship.
• What are the features and benefits of the product or service that you are marketing?
  • Metflix matches users and gives them a specified time frame (8 hours) to respond to the match before it goes away forever. Our product is marketed to users between the age of 18-36, meaning their phones are constantly with them and they are looking to live in the moment. Metflix gives you a shared interest from the beginning and makes the start of dating easier than other companies. Metflix will have user profiles with their Netflix viewing histories, a match function where you thumbs up or down the users that show up for you, and notifications both on phone and email to let you know when you have matched or received a message from another user.
• Where are the firm and each major product in the life cycle?
  • Both Metflix and our product are in the growth phase of our life cycle. After being introduced last year, we are having ever increasing demand and seeing our brand take-off.
• Why should your target market buy this product?
  • Our target market being single young adults aged 18-36, our product gives them an advantage to start their relationship that now other dating website has. Metflix gives users the power to choose whom to chat with and who not to.
• What are the major weaknesses in each product area? What are the major complaints?
  • Metflix major weaknesses are that we only use Netflix database of users and are missing out on other streaming platforms. Metflix also sees users wishing there was more user personality data included with their shared viewing interests.
• What goes wrong most often?
  • Metflix occasionally has issues with bugs that cause the website to crash as we upload updates to the massive database of users information. Metflix also can have issues when there are many people on one account with the same name, making sure to grab the correct viewing history from the right account.
• Is the product name easy to pronounce? Spell? Recall? Is it descriptive, and does it communicate the benefits the product offers? Does the name distinguish the firm or product from all others?
  • The name is easy to pronounce but it does sometimes get misheard as Netflix rather than the actual name of Metflix. Metflix is descriptive and clearly states that we are a company helping people meet using their Netflix data to pair them appropriately.
• What warranties are offered with the product? Are there other ways to guarantee customer satisfaction?
  • Metflix does not guarantee that a customer will find the relationship they are looking for and will issue a refund within 14 days of original purchase if the user specifically requests it.
• Does the product offer good customer value?
  • Metflix offers great customer value due to it starting users off with shared interests, which in turn helps them achieve their need of getting a long lasting relationship/friendship. Users come for the competitive advantage we have over other companies (connecting users with viewing history matches) and the success that it creates with their connections.
• How is the product packaged?
  • Seeing as it is a dating website, there is no packaging. (We can probably remove this question)
• How is customer service handled? How is service quality assessed?
  • Metflix customer service is handled through a live chat within the website and a call center as well. Metflix takes customer care extremely seriously and has after call/chat surveys to assess how users feel about how they have been cared for. Metflix also sends out quarterly surveys to see how users are liking their experience as well as to see what new features they would like to see added.

Promotion

How does a typical customer find out about the firms products?

The typical customers finds out about Metflix through social media platforms like Facebook, Instagram, Twitter, Youtube, and TikTok and commercial ads. Google ads will be used specifically when Individuals are searching up things related to dating.

Customers also find out about the Metflix from our partnerships/sponsorships with influencers/youtubers who have built a brand around the topic of dating or popular dating coaches

• Does the message the firm delivers gain the attention of the intended target audience? Does it address the wants and needs of the target market, and does it suggest benefits or a means for satisfying these wants? Is the message appropriately positioned?

Metflix gains the attention of the intended target audience by creating ads where actors are shown using the app and forming positive relationships with people. The advertisements will gain the attention and relate to the audience by highlighting the effects covid-19, quarantine, and social distancing has affected how people interact. The promotions will put an emphasis on the benefits of the app like forming long-lasting relationships and having a starting point of shared Tv and movie interest to make the connection process easier.

Does the promotion effort effectively inform, persuade, educate, and remind customers about the firms products?

Metflixs promotion efforts effectively inform, persuade, educate, and remind customers about our products by explaining how the app/website operates, informing the customers that the app/website will make it easier for users to connect with others

• Does the firm establish budgets and measure effectiveness of promotional efforts?

The firm will have a budget towards search-engine marketing through Google ads, public transportation ads, social media sponsored ads and will use analytics to track the success of these promotional efforts

Advertising

• Which media are currently being used? Has the firm chosen the types of media that will best reach its target markets? Specify the types of media you would recommend for your product.

Metflixs target market consists of Gen-Z and millennials who are avid social media and internet users. So, the main types of media used are TV and Internet/Social Media

The firm is also moving towards public advertising like billboards, ads on transportation services like buses, trains, subways, etc.

• Are the types of media used the most cost-effective, and do they contribute positively to the firms image?

Social media ads are the most cost effective; These types of media contribute positively to the firm's image because they help the firm form a persona online in order to create a sense of familiarity and relatability with the target market

• Are the dates and times the ads will appear the most appropriate? Has the firm prepared several versions of its advertisements?

The date and times for the ads will be determined by the firms social media analytics. This way the firm can see when its followers are the most active and on which days. There is consistency of our advertisements on all social media platforms.

• What system is used to handle consumer inquiries resulting from advertising and promotions? What follow-up is done?

Metflix has a customer service social media page and website page. There is also a chat bot that users can use to get quick answers to their questions.

Sales Promotion

• What categories of sales promotion are being used? Is sales promotion directed to the trade, the final consumer, or both?

Metflix will be using the consumer sales promotions, utilizing the application of free trials. We will offer seven days without payment to use Metflix premium, users will have unlimited access to the amenities offered without payment. After seven days an automated payment of 14.99 will come from their card attached to their account. The company will also rely on the free promotion of journalist and bloggers to talk about the quality of our application and whether it is worth using. At select events we will set up business promotion tents to help showcase our company to the public; giving away free t-shirts, mugs, and key chains.

• What is the specific purpose of each sales promotion activity? Why is it offered? What does it try to achieve?

For our free trail the company hopes that it allows users to experience and get a glimpse at what it is like to use our premium tools offer. The company has the expectations once the user completes the 7-day free trail they will be more inclined to purchase Metflix premium that require payments. Another promotion Metflix will be doing is our business promotion. The purpose of this is to reveal our company and what we offer in hopes of gain new customers. In this promotion we will have tents setup at venues like baseball games where people can win Metflix t-shirts, mugs, pens, or stickers. This will allow our brand ambassadors to engage with potential consumers leading to them getting the Metflix app.

• What specific sales promotions do you recommend for your product or service?

The promotion that suits Metflix is product placement. Because we dont have a physical item for consumers to smell, touch, or taste it can be hard for consumers to buy into the company. With this type of promotion, we can pay movies or television shows to have their characters use Metflix exposing it to millions of views and help pique the interest of potential consumers. When consumers see people who they relate use our app they will be more inclined to use our services and wont to see if they will be able to connet with someone on Metflix.

Price Chapter 14 & 15 Brian

Pricing

Our price level is manageable according to the type of plan our customer decides to choose. Our firm has the basic membership, which is free to register and use for 7-14 days free, however, to view photos of your matches you must agree to join our premium membership, which our client will need to purchase a 1, 3-, 6-, 12- or 24-months subscriptions. When comparing our prices with other companies such as E Harmony, Match.com and others, we have decided to go with customer orientation and charge less for each month than our competitors such as for 1 month is free, 3 months- 10.99, 6 months- 30.99, 12 months- 50.99, and 24 months-100.99.

The corporate mechanism used by Metflix to ensure that our unique selling point is to connect people with other customers or consumers who have the same or similar TV and movie interests. We try to use our app to attract an elite group of customers, thereby attracting similar users to apply or subscriptions to use our app because they are searching that special person who has similar likings, as well as similar personality. We strive to provide our clients with privacy protection. If someone chooses to use our app, we think it can be an important part of maximizing their love life. Our website also uses an advanced screening, and a monitoring system to keep our customers in a well-balanced target audience who are ready for a long-term relationship.

Our customers are price-sensitive, partly because of the pandemic and their current income.

If the price change is put our client into a crisis and if we increase our prices, it will decrease our revenue because we will lose clients because they increased prices. Keeping our prices low will attract more customers and help us to our revenues.

Our method of establishing our price is through the going rate. We decided to go with the going rate pricing because this method of setting up going rate pricing is the method of setting the prices in relation to the prices of competitors. Our firm bases our prices largely on our competitors prices such as match .com, E Harmony, Tinder, black people know .com, instead of paying more attention to our own costs or needs. Hence, our dating company is looking to charge slightly lower than the competitor(s). Prices. We hope that using the current rate method, will reflect the collective wisdom of pricing that will guarantee our clients harmony and fair return.

Currently, our company has not considered the psychological dimensions of price since we are a new company, but we tend to address this issue later.

As for our customers or potential customers, they can try our dating products at an introductory price. Yes, they do, we give our potential customers the opportunity to sample our basic dating app 7-14 days free, which includes seeing what client you are matched with by showing you a 90-100% rate for compatibility, the distance the client would be from you, however, you will not receive the location or view his or her face, the picture would be somewhat blurred after the 7-14 day free trial is over if they decide to continue them you would pay 10.99/month or you could elect to purchase 3, 6, or 12 months subscription which would be at a much lesser rate. We are also expanding our 7-14 days complimentary Dating Basic dating app for prospects that interest us.