Monday, August 12, 2019

Marketing Management Class Disscussion wk9 Essay

Marketing Management Class Disscussion wk9 - Essay Example Geographic segmentation, demographic segmentation, psychographic segmentation, and behavioral segmentation are all forms of market segmentation that enable companies to focus on the desires and needs of potential buyers. In addition, it is easy for a business to identify and understand its competitors and their strategy (Gale and Swire, 2006). LearnFree.edu would be a free e-learning website that seeks to provide free outstanding education to all visitors globally. The value of the website is unknown, as it will take nearly a year for its completion. For that reason, perceived-value pricing is the appropriate pricing strategy for the website/product. The value of the service depends on the price consumers are willing to pay and not on its production costs (Gale and Swire, 2006). Perceived-value pricing is effective in marketing of the website because its price is set in accordance to the perceived value of prospective buyers. Pricing strategy is a necessary constituent of market segmentation. It is a essential for any business because it helps determine market share and profitability of a business. A new business may need to set a lower price than that in the market, to penetrate the market. Even so, it should not be too low to result in losses for the

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