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Paper Topic:

PDA Simulation Feedback Loop

Running Head : PDA Simulation

PDA Simulation Decisions

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[University]

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[Date]

After having done the PDA Simulation Feedback Loop for several times there was a realization about how important pricing strategies are in marketing . It is made clear that effective pricing strategies may determine the success or failure of a product in the market . It was also realized that it is essential to know how to listen to the consumers ' preferences and responses to particular products . It should be borne in mind that no two products are the

same . Every product is unique and so it is essential that different pricing strategies must be utilized to ensure maximum sales of the product . For instance , when a product is being marketed as a premium product , the company can sell it at a higher price at a higher profit margin . On the other hand , when the product is being marketed as a product for the masses , the company can only sell the product at a lower price and rely on the volume of sales to recoup its investment

Based on these principles , the following core strategies were utilized 1 ) To be able to attract as much number of customers for handheld X5 (Scott Allen , 2002 . Compared to the previous strategies , however , the price of handheld X5 was not immediately reduced based on the realization that customers are attracted by its low price and so there is no longer any need to reduce its price . 2 ) To be able to improve the quality...

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