MKTG 350 OSU Marketing iPhone 13 Product Analysis Essay
Description
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Your Product:
Describe a singular product you are using for this assignment. Give a product description and a price below. Feel free to copy and paste this information from an accurate internet listing.
Price Sensitivity Analysis:
Describe what you think consumers’ price sensitivity is towards this product type. Briefly explain your reasoning using terms from slide 25 in the “Pricing Strategy” slide deck.
Competitor Pricing:
Calculate the average price based on four competing products that cover the range of prices.
4 Competitors
Price
Direct Competitor 1:
Direct Competitor 2:
Direct Competitor 3:
Direct Competitor 4:
Average Price: $
Describe each product’s price compared to average:
(-High above average, above average, average, below average, well below average.)
Segment Analysis
List three segments that buy this product and the price each expects to pay:
-High above average, above average, average, below average, well below average.
-Their price sensistivity
Segment 1 Expected Price:
Segment 2 Expected Price:
Segment 3 Expected Price:
State which segment(s) your product likely targets:
Pricing Strategy: As best as you can, use your knowledge of the brand’s image, product features, and your product’s targeted segment to briefly explain your product’s pricing strategy.
Calculate the Cost of Goods (COGS) sold for your product:
Do the following quick search: “gross profit margin for [your product]” to get a rough estimate of the percent gross profit margin for your product.
Multiply that percentage by your product’s price to calculate the contribution and fill in the amounts below:
Product Price: $
– Unit COGS: $
= Contrib $
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