MKT501 Idea Solution:-

Question no. 1

Suitable pricing strategy for Zeeshan’s business:

Suitable pricing strategy for Zeeshan’s business is “Penetration pricing strategy”.

Reason:

Middle class families are not satisfied from the price of the product i.e. Rs. 60 per litre.

As penetration pricing is a technique of setting a relatively low initial entry price, a price that is often lower than the eventual market price. So, we will attract customers by lowering the price in start as compared to others to attract customers as well as to get rid of competitors.

Question no. 2

How can Zeeshan position and differentiate his brand in the minds of customers?

Zeeshan can position and differentiate his brand in the minds of customers in different ways. Some of them are,

1. Quality of milk should be superior to come in the minds of the customers.
2. Price penetration strategy will also help to be famous.
3. We will use good packing that is good in look and is safe.
4. We will approach our target market. We will provide milk near to place of usage.
5. Our brand name would show good quality of our product.
6. Our product will be claimable within due date. Its mean, if our milk is not according to prescribed quality, we will accept customer’s claim.
7. We should publicize our product by using famous whole sellers and retailers, who should not only sell our product, but also publicize it.
8. We should make a call center for our customers in case of any information required with respect to our product.
9. Zeeshan should also sell his milk outside his factory or working area. In this way, customers will buy product in more less than the market price as additional cost that was have to be charged by whole sellers or retailers will be minimized.
10. We should advertise our milk brand in an efficient way, so that, our target market should know about our product.

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