 Pricing StrategiesMuhammad Ismail Hossain (),
Nasrin Akter () and
Abureza M. Muzareba ()
Chapter Chapter 8 in Marketing in a Transition Economy, 2024, pp 273-297 from Springer Abstract: Abstract The cases aim to provide insights on how to manage markets through strategic pricing rather than simply calculating price based on product and profit. These cases present various aspects of strategic pricing such as premium pricing, high-low pricing, and perceived value-based pricing. The first case is about the premium pricing strategy of Bengal Meat where the company is charging a higher price for its meat and meat-based products than the traditional meat market of Bangladesh. The case explores how Bengal Meat justifies its premium pricing by ensuring international quality, hygiene, and safety standards throughout the process of sourcing, handling, processing, and packaging. It also sheds light on the challenges that the company is facing due to the economic downturn of the post-pandemic and the resultant price hike in the overall meat market in Bangladesh. The USP and strengths of Bengal Meat are also discussed to understand the extent to which the brand would be able to sustain its premium pricing. The second case focuses on the high-low pricing strategies of the super shops. As most of the super shops in Bangladesh adopted similar pricing strategies, this case sheds light on the debate—whether super shops adopted such similar pricing strategies to compete with each other or deliberately reached concurrence with each other for co-optation. To provide insights into such debate, this case in particular presents how the combination of promotional pricing and differential pricing strategies as adopted by super shops are capitalizing on the cultural preference of bargaining in the Bangladeshi context. This case also explores how the high-low pricing strategies in urban grocery shopping contexts are generating additional sales, excitement, traffic to the store, up-selling, cross-selling, and scaling the operations of the super shops. The third case is about Glazed, the first local doughnut brand in Bangladesh. This brand has been charging the highest price in the market since its inception. This case discusses how the successful positioning of Glazed facilitates its adoption of image pricing. With support from the ‘good quality tasty doughnuts’ positioning, how Glazed was able to sustain its premium price even during the period when international doughnut brand Krispy Kreme was brought into the market, is also discussed in the case. How quality and top international brands’ association offered Glazed an avenue to adopt an image pricing approach, which it utilized effectively, are also narrated in this case. Further, the case highlights—a. Glazed adopted popular price cues of using prices ending with 0 and/or 5 which has been convenient for its target customers to help them memorize, process, and recall the prices, and b. contribution of the price cues for ensuring the sustenance of the perceived value-based pricing approach. Date: 2024 There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-981-97-3553-2_8 Ordering information: This item can be ordered from DOI: 10.1007/978-981-97-3553-2_8 Access Statistics for this chapter More chapters in Springer Books from Springer |
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