Price Strategy
Prior to completing the quiz, review Chapter 5, Table 5.3: Pricing Strategies and Objectives, of the course text.
Instructions:
This week, you will have an opportunity to practice identifying price strategies for six different products and services. Fill out the below table and submit it to Waypoint as the journal requirement for this week. You can access the table by downloading the Week 3 Journal Entry
Download Week 3 Journal Entry template.
| Brand, Product, or Service | Name Pricing Strategy from Table 5.3 | Pricing Strategy Definition and Use | Your Rationale for the Pricing Strategy Selection |
| Royal Treatment |
| Links to an external site. Pet grooming and pet spa services for dogs and cats |
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| Custom Shoes |
| Links to an external site. Converse customizable shoes |
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| A restaurant’s designed three-course dinner package for couples on February 14 of each year (Valentine’s Day). | |||
| PearlsAndLavender |
| Links to an external site. Handmade ceramic and brass jewelry offered by a self-employed designer on Etsy |
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| Southwest Airlines |
| Links to an external site. The world’s largest low-cost carrier |
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| Off-season hotel room prices on weekdays |
Carefully review the Grading Rubric
Links to an external site. for the criteria that will be used to evaluate your assignment.
Skills Learned
This activity helps you practice the following industry-required skills:
- Analytical Skills, Problem formation/Solving
