PRICING tHE IMPORTANCE OF GETTING IT RIGHT

Pricing can be a source of identify and meaning for a lot of sporting brands and can have a positive effect on the brand and its customers, however if an organisation gets the pricing wrong, the opposite can happen.

You are to consider the different pricing strategies available to organisations from the sports industry. You should complete further reading around these and create an evaluation of these, identifying how and why different sports organisation use these. Pricing strategies you should consider are:

Psychological and Promotional pricing

Premium Pricing and Demand Pricing.

Price Skimming and Price Penetration

You should explore the strengths and weaknesses of each pricing strategy, thinking about the impact that getting the strategy right will have on them and their brand. You should add your thoughts to the Forum on Learnzone under Pricing Strategies.

Credits:

Created with images by The Pug Father - "Nike+ Fuelband unboxing" • Meditations - "ad adboard announcement" • Ali F. Al-Saeed - "Manchester United Badge"

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