Write at least 600 wrods.
Visit Bala’s (Links to an external site.) website, but do not let their current pricing and place decisions influence your recommendations. Also, watch the following video to learn more about the business and the entrepreneurs behind the business:
Bala Company Questions
- Analysis: Looking at their current pricing & place decisions, do you believe Bala is effectively capturing and delivering value (meaning that the price point is such that consumers will perceive the benefits outweigh the cost; and that place decisions offer their own benefits that again outweigh the costs)? Why/why not?
- Overall Pricing Recommendations: In terms of setting the “right price”,
- Which pricing orientation do you believe this company should follow when setting their prices? Why?
- Identify who you believe the target market likely is for this company’s products. Then, do you feel consumer demand for this company’s product mix will likely exhibit more elastic or inelastic demand? Why? (Considering who you believe to be the target market specifically will influence your response to this question)
- New Product Pricing Recommendations: Supposing that Bala is wanting to expand their market presence, they are considering developing a kids-focused line of athletic gear (e.g., kids yoga mats). Which new product pricing strategy would you recommend the company pursue for this new line and why?
- Pricing Adjustment Strategies/Tactics Recommendations: Given the various pricing adjustment strategies & tactics available, which would you recommend Bala implement with the introduction of the new product line – and why? If none are recommended, argue for why no pricing adjustment strategies/tactics should be utilized.
- Marketing Channels Recommendations: How many channel levels (direct, indirect/retailer, indirect/wholesaler), # of channels, & general number of intermediaries (i.e., intensity of distribution) would you recommend Bala pursue and why.
- If you stated that you would want to utilize retailers, identify key retailers you believe would be desirable for selling your product to end consumers. Discuss why you would recommend these retailers to Bala to pursue in their distribution strategy.
- Retailing Recommendation: Supposing that in the near future, you are considering an opportunity to open up a specialty retailer store for Bala to further expand the direct to consumer channel, present ideas for your store’s presentation.
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