Price is the only element in the Marketing 4P that generates revenue. Product, Place, and Promotion all cost money. Price is the only element that makes money, but perhaps the most intricate.
The objective of this assignment is to evaluate how pricing should be determined in different countries, depending on the all the challenges listed above.
Let us assume that you are a consultant being asked by three clients: Jamba Juice, Del Monte Ketchup, and Coca Cola.
All these clients wish to research the probability of market entry into the cities they do not have presence in yet. Jamba Juice wishes to enter Lagos, Nigeria. Del Monte Ketchup wishes to enter Khabarovsk, Russia. Coca Cola wishes to enter San Salvador, El Salvador. These cities are major cities in their respective country that once these companies succeed in these major cities, they plan on expanding to other major cities.
Average household income in these cities are not nearly that of average household income in the U.S. Jamba Juice, Del Monte Ketchup, Coca Cola are perishables, so arbitrage concept does not apply. These products are consumables that should be within the range of what average household income should be able to afford…or should they?
1) Research the following questions below. Your responses should be detailed with no less than 500-word count for the entire submission.
(2) Global Marketing emphasis the importance of research to avoid assumptions based on ethnocentrism. Thus, college level research and critical thinking responses are expected. Include at least 3 credible research sites. MLA citation of sources is required. 5 point penalty for no or wrong citation.
URL only of “www….” will not receive any points.
Example of correct MLA format citation:
Mankiw, N. Gregory. “ECONOMIC VIEW; Too Much Wishful Thinking on Middle-Class Tax Rates.” The New York Times. The New York Times, 20 Feb. 2023. Web. 2 Mar. 2023.
(3) Use single space. Use double space between questions.
(4) Label your responses e.g. Q1 a, b, Q2 a, b, etc.
(5) Upload files in Microsoft Word or PDF. Pages (pgs) or Word Perfect (wps) will NOT be accepted.
Q1. Research Jamba Juice and also Lagos, Nigeria. Jamba Juice is not a necessity, but rather a premium product.
Q2. Research Del Monte Ketchup and about Khabarovsk, Russia.
(Hint: This is an American brand that may be linked to one’s status symbol)
Q3. Research Coca Cola and all the countries it has presence in, as well as San Salvador, El Salvador. Unlike Jamba Juice and Del Monte, Coca Cola already has presence in many countries, with all levels of per capita income. Coke has a long-standing global experience.
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