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MGT301 GDB Fall 2019 Solution & Discussion

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Share the GDB Question & Discuss Here.... 

gdb m koi kisi ko slotuion milia koi aya idea k kasiy  add karni 

Which “ONE” of the three belowpricing strategies do you think “Kia Sportage” has employed to increase its sale and grab large market share in Pakistan and what benefits it could achieve using this strategy?

 

  1. Competition Based Pricing Strategy
  2. Market-Penetration Pricing Strategy
  3. Market-Skimming Pricing Strategy

Market-Penetration Pricing Strategy since it does it market survery and set its prices accordingly.

mgt301 ki gdb nhi banai kisis ny kaya 

MGT301 GDB Solution Idea:

Market Penetration Pricing Strategy
In this strategy price is low than market expectations .This price strategy is used for Initial to break market competition .In this price strategy introduce product with low Price to make customers reliability.

Principle of Marketing (MGT301)                                                       Fall, 2019

Graded Discussion Board No.1

Due Date: Jan23, 2020.

Total Marks: 05 Marks

Weightage: 03

Topic: “New-Product Pricing Strategies” 

 

NOTE: There is no grace period in case of GDB

 

Learning objectives:

To familiarize the students with the concept of new product pricing approaches, so that they could learn that how companies can drag the attention of their target customers using new-product pricing strategies.

Learning Outcomes:

After attempting this case student will be able to understand how tactfully modifying/setting pricing strategies can benefit any organization in clientele maximization and value creation.

Case:

In Pakistan, Suzuki, Toyota and Honda motors are the major market players ruling automobile sector for the last 4 decades. 

In 2000, Dewan Mushtaq Group diversified its business operations by entering in the automobile sector. Dewan Farooque Motors Limited signed Technical License Agreements with Hyundai Motor Company and Kia Motors Corporation in December 1998. Due to some reasons Kia Motors had to stop its business operations in Pakistan in 2007. But later in 2018, Kia Motors set its manufacturing plants in Pakistan with the help of Lucky Cement and launched Kia Sportage. With its unique and attractive looks Kia Sportage gained significant publicity and fame specifically in the category of sport utility vehicle (SUV) sector. To penetrate its roots more deeply in Pakistan, Kia Sportage introduced different models of cars to cater needs of people whose monthly income starts from 1 lac and above. The reason of introducing different models of Sportage car is to cater needs of people as per their income bracket and also to grab share from market giants such as, Suzuki, Toyota and Honda. Since these market giants had strongly captured local market, therefore, Kia comes up with the idea of keeping its pricing strategy synchronized as per its competitors.This idea clicked well for Kia in terms of representing itself as a premium brand and creating a challenging environment for the other market giants. 

Point of discussion: 

Which “ONE” of the three belowpricing strategies do you think “Kia Sportage” has employed to increase its sale and grab large market share in Pakistan and what benefits it could achieve using this strategy?

  1. Competition Based Pricing Strategy
  2. Market-Penetration Pricing Strategy
  3. Market-Skimming Pricing Strategy

*NoteRemember, you are required to select only 1 strategy and justify your answer through any valid and logical arguments. “Definitions of these strategies are not required”.                                                                                                                       

Marking Scheme:

The total marks of this GDB are 05; selection of correct pricing strategy carries 2 marks and each logical justification carries 1.5 marks. Avoid irrelevant text/material while answering the question.

Student’s Guide: 

  • Keep your discussion with the mentioned scenario and irrelevant answers and material will not be graded. 
  • Do not copy/paste the text/paragraphs from the reference links.
  • Be careful from those blogs who are promoting cheating culture among our students and killing their creativity and critical thinking. Answers copied from such blogs will be straightaway marked as zero. Similarly, any relevant or irrelevant material copied from internet sources will get the same treatment. It can seriously damage your grades. 

 *Note:

For acquiring the relevant knowledge, do not rely only on handouts but also watch the course video lectures and read additional material available online or in any other mode. 

Important Instructions: 

  • Your discussion must be based on logical facts.
  • The GDB will open and close on above specified date and time. Please note that no grace day or extra time will be given for posting comments on GDB.
  • Use the font style “Times New Roman” and font size “12”.
  • Your answer should be relevant to the topic i.e. clear and concise.
  • Do not copy or exchange your answer with other students. Two identical / copied comments will be marked Zero (0) and may damage your grade in the course.
  • Books, websites and other reading material may be consulted before posting your comments; but copying or reproducing the text from books, websites and other reading materials is strictly prohibited. Such comments will be marked as Zero (0) even if you provide references. 

MGT301 GDB Solution Idea:

Market Penetration Pricing Strategy
In this strategy price is low than market expectations .This price strategy is used for Initial to break market competition .In this price strategy introduce product with low Price to make customers reliability.

MGT301 gdb

Competition-Based Pricing

One of the advantages of competition-based pricing is that no complex computations are required. Sellers simply follow a market price, or a price set by market leaders. Also, in a highly competitive market, the burden of price-based marketing is lifted. However, other forms or marketing efforts might be needed.

When sellers adopt the same price as those charged by competitors, certain marketing efforts must be made to attract sales since price is not a major factor; it is neither an advantage nor a disadvantage. Additional efforts include aggressive advertising, better customer support, market saturation, etc.

MGT301 GDB
Title :- market penetration strategy

A market penetration strategy is a product market strategy whereby an organization seeks to gain greater dominance in a market in which it already has an offering. This strategy often focuses on capturing a larger share of an existing market
According to this technique Market penetration refers to the successful selling of a product or service in a specific market. It is measured by the amount of sales volume of an existing good or service compared to the total target market for that product or service
According to paragraph my opinion this strategy is much suitable in these scenario because
1. customer attracter
2. Increase sales
3. Profit Margin increase
4. they can win large market shares

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