MGT602 Reflective Responses on the Statements of the Students - Free S

The first part we have to give an opinion on a statement provided by the professor.
The second part (the one we are doing now), we have to respond to at least 2 of our classmate's post.
Attached, is my original post, we need it because we have to create our response using the same point of view we defended based on my original post.

This is not to criticize my classmate post, this is about providing more inside to his post maintaining my original position.
We need to mention at least 2 references here… we can use the same references from my original port or new ones.
I’m also attaching a response example from last week, this is what is expected. The response has to be like Im writing it, interacting with the other classmate, it can not be done in 3rd person. Please take the time to write it correctly, I don’t have much time to send it back for a second re write.

Answer:

Introduction:

While reading your opinions, I found that you laid stress on the market forces, which adversely affects the positioning of a product or brand. You are very straightforward in your response, which provides the opportunity to the readers to understand your arguments on positioning of a product. You have correctly pointed out that cost includes licensing and tariffs, which influences the purchasing decision of the customers. You are correct in projecting the importance of analysis in terms of increasing the profit margin. I affirm your viewpoints about planning while catering to the price fluctuations. This is in terms of bestowing innovative products upon the customers.

I liked your point regarding the consequences of positioning a product with high cost. I support your decision regarding consideration of the new entrants for securing the market position within a competitive ambience. I liked the way you compelled the companies and organizations to be rational and alert in terms of dealing with the price fluctuations. I appreciate your viewpoint regarding starting the product as premium. I think premium pricing would help the personnel to identify the target audience. Especially, I would praise you for emphasizing the need of strategic approach towards dealing with the sudden changes in price.

I can rate your statement as 4, as you have pointed the importance of strategic approach towards stabilizing the financial parameter. I think this rating would act as a valuation for voicing out your valuable opinions regarding the impact of market forces on cost.

Addressing the audience as a whole reflects that you are considering everyone as a part of your research. I think this address is formal. While going through your statements, I found that the sentences are very long. Putting such long sentences makes the readers confused, which aggravates their complexities in understanding the crux of your opinions. However, I think you have done a good job in placing yourself in place of the customers. This seemed convenient in making the audience acquainted with the market dynamics and emerging successful in possessing quality products. Demands of a customer towards wanting to buy a good product are obvious. Here, I like your focus on the cost for getting quality products. I feel saving is necessary in terms of maintaining the balance between the personal and professional life.

You seem to be accurate in terms of pricing the products. This accuracy is assistance for the customers regarding exercising their purchasing power. You are right in pointing put that brand image attracts the customers. It is the brand image, which answers all of the queries of the customers regarding the product.

Perspective of a producer is praiseworthy in terms of projecting the situations, which the marketers undergo, for executing the transactions. Highlighting the issue of adopting wrong means in marketing is highly appreciable. Consciousness towards this issue reflects your Samaritan attitude towards the needs, demands and requirements of the customers. Your statements can be rated as 3.5 in terms of strategic planning, which is required for taking correct decisions for enhancing the brand image.

Bibliography

Ahmetoglu, G., Furnham, A., & Fagan, P. (2014). Pricing practices: A critical review of their effects on consumer perceptions and behaviour. Journal of Retailing and Consumer Services, 21(5), 696-707.

Davcik, N. S., & Sharma, P. (2015). Impact of product differentiation, marketing investments and brand equity on pricing strategies: A brand level investigation. European Journal of Marketing, 49(5/6), 760-781.

Hu, M., Li, X., & Shi, M. (2015). Product and pricing decisions in crowdfunding. Marketing Science, 34(3), 331-345.

Nagle, T. T., Hogan, J., & Zale, J. (2016). The Strategy and Tactics of Pricing: New International Edition. Routledge.