Fruits By the Foot By General Mills. 1) Your CEO has come to you and asked that

Question

Fruits By the Foot By General Mills.

1) Your CEO has come to you and asked that you develop a NEW approach to pricing for your product for a specific new distribution outlet (he won’t tell you much, but it will reach a new target market: urban, mid to upper-income, multicultural, 20s-30s). What pricing strategy will you utilize and why?

2) How does this new pricing strategy fit with the Marketing Mix, Positioning, and Differentiation strategy for your company? What other creative new pricing methods might your brand consider to appeal to current customers and sell more product?

Explanation / Answer

1) Your CEO has come to you and asked that you develop a NEW approach to pricing for your product for a specific new distribution outlet (he won’t tell you much, but it will reach a new target market: urban, mid to upper-income, multicultural, 20s-30s). What pricing strategy will you utilize and why?

I would Price Skimming strategy, because-

2) How does this new pricing strategy fit with the Marketing Mix, Positioning, and Differentiation strategy for your company? What other creative new pricing methods might your brand consider to appeal to current customers and sell more product?

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