Red Bull Context, Need, Pricing Project

Specifically, the followingcritical elementsmust be addressed:

Corporate mission and how the new product or service aligns with it. Defining features of the product(s)/service(s)

oHow the product will be marketed internally and externally

oHow the company is differentiating from competition

oAlignment of pricing with market position and corporate mission

Three: Defining Product or Service Need

• Behavioral and/or lifestyle demographics of the targeted consumer or buying style of organizational buyer and why they are a good choice
• What unsatisfied need the product/service fulfills
• How the customer/buyer seeks information to fill the need
• How the product is purchased (characterize the buying situation)
• Why your chosen target market is the best choice

Section Six: Pricing

• Explain the fixed and variable costs and how these fit with the company's short- and long-term goals. Use a narrative with a table to show calculations for cost categories. Provide reasonable estimates for each of the categories. Specific or in-depth financial analysis is not necessary.
• Examine competitors' pricing and explain reasoning for differences.
• Estimate how much you think the target market is willing to pay for your product/service. Is this due to preferences for social responsibility, ethical
• behavior, or other intangibles?
• What pricing strategy (skimming, penetration, economy, or premium) is most appropriate and why?