Discussion Post Chapter 11: Pricing Strategy

Please reply by 12/1/2021 so I can send my peers posts

Instructions

Write a post for the Discussion Forum on this topic, addressing the questions below. You may use either a written paragraph or bullet-point format. Part 1 should be 2–3 paragraphs in length or an equivalent amount of content in bullet-point form. Responses to your classmates’ posts should be 1–2 paragraphs or several bullet points in length.

Part 1: Pricing Strategy

Briefly describe pricing for your product or service. How does this compare to competitors, assuming competitors are at or near break-even point with their pricing? Analyze pricing alternatives and make recommendations about pricing going forward based on the following:

How sensitive are your customers to changes in price?

What revenue do you need to break even and achieve profitability?

• What does the price say about your product in terms of value, quality, prestige, etc.?              

First peer belowWhen it comes to healthcare; patients are sensitive to change in price depending on the contract with their insurance company. Depending on how much a patient is responsible for their deductible or coinsurance. If the insurance company has a high paying contract to the insurance company that will affect how much they might have to pay out of pocket. The revenue for that would be needed to break even and achieve profitability would be all dependent on how much it would be to employ the staff to run the business. Right now, Medicare is the best paying insurance company out there for the Home Care. They pay about 90% of the contracted rate. Most insurances pay close to about 70% of the billed amount because of what they allow. The price of Home Health for the EvergreenHealth that they are a superior Home Health Agency with the best clinicians to care for them in their home.          

Second peer belowAt Bass Pro Shops, pricing cannot be beat. If a customer finds a price lower than what the store is selling it for at the time of purchase they will match the price. The lower price has to be from a local retailer within 100 miles of your local Bass Pro Shop or on a qualifying website. If you are CLUB member, Bass Pro will not only match the lowest price but also give you an additional 5% off the item! Bass Pro tries to maintain the lowest prices so customers can spend less time in the stores shopping and more time outdoors enjoying life. Customers are very sensitive to the changes in price because if the prices are lower elsewhere and Bass Pro won’t match it, then customers will shop elsewhere. The price of Bass Pro Shop products says that all their products are good quality products at a good quality price. Typically when outdoor equipment is very low priced, it is not always the best in materials and does not last as long as if you paid a bit more for it. At Bass Pro Shops, you will pay a decent price for a good quality item. Pricing going forward can always be lowered, but I do not believe Bass Pro Shops has to change their pricing. I believe they are fair compared to other outdoor retailers and the quality of the products are better than most.