Question.2592 - Pricing is one of the most important, yet difficult, aspects for a business. How do you set your prices? For this discussion, I want you to set the price of this flower arrangement. It has 24 purple mums, 16 orange mums. 16 mini red mums, 10 un-bloomed green mums, one pink rose, 5 birthday candles, on a plastic stand. Cost of Packaging is $9.78. You will need to determine price of flowers as they will vary depending on your pricing strategy. Standard delivery is $10. What other facts do we need to know before you can even think about pricing? Start your posts with clearly stating the textbook pricing strategy you are using. Be sure to arrive at a price that makes sense to the declared strategy. (Hint: You can't be the highest quality and the lowest priced; that doesn't fit a strategy) First, watch this short video Link (https://youtu.be/CiQ6rBTrkC0)(https://youtu.be/CiQ6rBTrkC0) Be sure to include the following 1. Segment and choose a target market. Explain why this is the market and why the other ones are not. 2. Use one of the pricing strategies discussed in the textbook. 3. Explain why and how you arrived at your price2/13/23, 6:59 PM Topic: Week 6 Concept Discussionhttps://worldclassroom.webster.edu/courses/1430763/discussion_topics/4386229 2/4 4. Explain how your target market will react to the price and why. This must be based on what you learned about consumer behavior not just an opinion. In other words, you cannot simply price the arrangement at $9.99 and target low income and say they will by it because that's all they can afford. That is opinion. 5. Include detail about the research conducted to arrive at the price - you cannot set price in a void. it must be founded in research. Post your original post by Wednesday night at midnight. This rubric will be used to grade each week. discussionboard_rubric.docx (https://worldclassroom.webster.edu/courses/1430763/files/69356192/download?wrap=1)
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