In this mini case study (with a video case summary as well), students will review how an insurance company was able to make intangible services “tangible”.
Students work through a pricing experiment testing optimal pricing for profits. They then construct a demand curve, as well as considering multiple environmental factors before making a final pricing recommendation. A good activity to understand the role of marketing mix experiments.
In April 2023, superstore Bed Bath & Beyond filed for bankruptcy, following several years of misalignments to the changing environment. Many factors contributed to their demise – but was poor marketing mainly to blame?
As we know, sales promotions and discounts are commonly used in supermarket channels. However, do they make a difference? In this activity, students examine different consumer motivations, using an excerpt from a focus group, to identify the type of consumer (segment) that are responsive to sales promotions and why – as well as identifying the long-term impact on a brand, if any.
This teaching activity is a more advanced cost-plus pricing activity. If your students have a good sense of the concept, this is an excellent activity for gaining a better understanding of the cost-plus formula and its challenges of implementation. Note: A free (but optional) Excel template for cost-plus pricing formula has been included.
This case looks at Patagonia, a company that is highly successful in terms of growth and profits, but also makes a substantial contribution to the environment, sustainability, and even to the anti-consumer movement and ideology.
In this activity, students consider the tactic of shrinkflation as a suitable and ethical approach to managing price increases. A short news video helps provide several good examples.
In this very simple and fun exercise, students have to choose between two identical products – but one has the advantage of a very strong brand versus an unknown brand – will your students pay more just for the brand and why?
A local coffee shop has conducted a pricing experiment and broadened their product line. But did the experiment work? And should they continue with the pricing approach or discontinue it? A great activity for assessing marketing mix changes.
In this activity, students are presented with basic costs and a demand curve for the local pizza shop and they are asked to calculate the best price point to maximize profits. Note: will require students to have basic spreadsheet access and skills.