Homework SourseABC is a single business organization with a functional stru
ABC is a single business organization with a functional structure. It is the end of 2017.
ABCs strategic goals and objectives:
Strategic goal: maximize stockholder wealth over the long term.
Strategic objective: increase total revenues by 10% in 2018.
ABC company revenues for 2015
Product x: $50 per unit times 1000 units sold=50,000
Product y: $100 per unit times 1000 units sold= $100,000
Total sales: $150,000
Other important information
Product x market share: 10%
Product X demand characteristics: inelastic demand
Product Y market share 10%
Product Y demand characteristics: elastic demand
Write 2 marketing short-term objectives and 2 pricing tactics for both product X and product Y that is consistent with the information above.
ABC is a single business organization with a functional structure. It is the end of 2017.
ABCs strategic goals and objectives:
Strategic goal: maximize stockholder wealth over the long term.
Strategic objective: increase total revenues by 10% in 2018.
ABC company revenues for 2015
Product x: $50 per unit times 1000 units sold=50,000
Product y: $100 per unit times 1000 units sold= $100,000
Total sales: $150,000
Other important information
Product x market share: 10%
Product X demand characteristics: inelastic demand
Product Y market share 10%
Product Y demand characteristics: elastic demand
Write 2 marketing short-term objectives and 2 pricing tactics for both product X and product Y that is consistent with the information above.
ABCs strategic goals and objectives:
Strategic goal: maximize stockholder wealth over the long term.
Strategic objective: increase total revenues by 10% in 2018.
ABC company revenues for 2015
Product x: $50 per unit times 1000 units sold=50,000
Product y: $100 per unit times 1000 units sold= $100,000
Total sales: $150,000
Other important information
Product x market share: 10%
Product X demand characteristics: inelastic demand
Product Y market share 10%
Product Y demand characteristics: elastic demand
Write 2 marketing short-term objectives and 2 pricing tactics for both product X and product Y that is consistent with the information above.
Solution
Answer:
Two Marketing Short Term Objectives for Product X: Since demand is inelastic, we can use marketing short term objectives like Hashtag Marketing to Engage with Customers and Growing Social Media Presence;
Two Marketing Short Term Objectives for Product Y: Since demand is elastic, we can use marketing short term objectives like Reduced Pricing Promotions and Group discounting offers.
Two Pricing Tactics for Product X: Since demand is inelastic, we use pricing tactics like additional benefits or services for introducing a new customer and improved after sales services to attract more customers.
Two Pricing Tactics for Product Y: Since demand is elastic, we can use pricing tactics like temporary price cutting and bulk discounts.
