In Unit V, you selected your favorite brand and described the reasons whythis brand is so appealing to you. For this assignment, you will use yourfavorite brand to create an analysis that identifies the strategic directionof price and promotion.
- In this assignment, you will research and provide pricing examplesthat compare and contrast various factors that influencepromotional strategies for each of the five pricing strategies:premium pricing, penetration pricing, economy pricing,psychological pricing, and promotional pricing.
- Next, you will determine which pricing strategy is represented byyour brand’s price and discuss why (or why not) the pricingstrategy is effective.
- Finally, you will discuss if the pricing strategy is aligned withthe messaging strategy in the promotions. For example, if thepricing strategy is premium pricing, do the promotionscommunicate the high value of the brand?
You must reference at least two articles from business-related or newswebsites. All paraphrased and quoted material must be cited and referenced.You will create a four-page Word document, not counting the title andreference pages.