business marketing

Name

Instructor

Course code

Date

Pricing Practices for Cheesecake factory

For the company to go about its marketing strategy and promoting its products and market niche , it requires an approach to pricing that is usually applied . The pricing element will to a large extent determine the demand of the products and should cover the costs for the organization to be profitable . It is also important to adapt a strategy that will be workable for the business (The cheese cake factory 1

The organization aims to ensure that it maintains

a healthy relation with its consumers and boost high quality while ensuring that its policies are sensitive to the consumer and the market . The cheesecake company has and should keep in touch with the information on consumer behavior . This is usually gotten from the reaction of consumers to other products in case of price adjustments and the prevailing situations in the economy . It is also important to anticipate the reaction of competitors to the pricing strategies used by the company . The organization can conduct an evaluation of how well the strategy can be implemented through a small proportion of its sales products and it should relate to the overall price effect that will affect the consumers and the adjustments should be reflective of the market conditions for example products targeting students have a special price reflecting segmentation of the market . There are also types of products that imply segmentation like lunch time specials (The cheese cake factory 1

In the case...