Question: Write a project document on a current product (good or service) that you think needs pricing setting / review in your market. Choose a product

Write a project document on a current product (good or service) that you think needs pricing setting / review in your market. Choose a product (good or service) that you will study and for which you need to suggest or modify the price as a pricing specialist, the project parts entail the following:-

Product and industry description

The differentiating factors of your product

Comparison of your prices with competing products

Suggest the breakeven level of sales you need to meet if you make any fixed investment

Study elasticity factors following a hypothesis that you consider when changing prices

State the impact of social media on your pricing strategy (Pros and Cons with competitors)- State your recommendations

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Sure lets use the example of a local gourmet coffee shop Beans n Brew to illustrate how to address each section of the project 1 Product and Industry Description Beans n Brew is a local coffee shop th... View full answer

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