Page 19 - Tyrrells Flip Teaching Guide
P. 19
The price is set in the light of the competitor’s offering, the
price-sensitivity, market size, cost of switching, extent of
brand loyalty among other factors. However, it is advisable
to follow the leader in this regard unless there is a
significant USP. If the product is me-too, a lower price is
advisable
Promotional Spends, if launched nationally, must be high
enough to gain maximum visibility in the early stages.
Efforts must be made to keep the communication simple
and unique. The launch campaign must be such that it
doesn’t get lost in the clutter.
Growth
Depending on the success in the growth stage, the firm may
aim at product improvement.
The company may introduce newer variants through
continuous R&D
The firm may undertake sales promotion such as extra
grammage, freebies, etc.
If the product was launched in smaller markets, the firm
may consider increasing distribution coverage.
