Marketing Strategy Pricing Business & Marketing Essay (Essay Sample)
Determine the price you will charge for your product, or if you have chosen a service, determine its pricing (this may be based on an “average” price
per service rendered).
Product Service Pricing
Subject and Section
Understanding the relationship between pricing strategies and new product services is important for any business professional. It allows him to have a better grasp of the competitive landscape of his industry and utilize strategic marketing techniques to improve its success. Accordingly, this article would focus on the pricing strategy that could be used for the new product service – self-service kiosks for the blind. This is includes the rationale and the causes for such service. All in all, the author believes that the price points for the service is crucial in order to improve competitiveness within the same industry, while also leveraging other modes of cash flow for the business.
Hardware and Software
The self-service kiosk for this company would include a digital and personal service, which should both be considered in pricing the service. On the one hand, the self-service kiosk itself would cost around $7,800 per machine, which is only a little bit higher compared to the kiosks technologies provided by its competitors (Zamok.com, 2021). This price per unit includes the hardware, software, and additional staff training for those who would assist the clients. First, the hardware pricing includes every piece of material together with the assembly and setup processes. Based from recent estimates,
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