Read about 2 sister brands – Seiko and Grand
Go to this article and read about 2 sister brands – Seiko and Grand Seiko:https://www.watchshopping.com/watch-guide/the-differences-between-seiko-and-grand-seiko-watches/
For Seiko and Grand Seiko, please discuss the following:
1) How important are the 5 Cs (costs, competition, customers, channels of dist., compatibility) for pricing this Seiko? Grand Seiko?- Please elaborate on each of these 5 Cs! Hint: company strategy includes positioning strategy (i.e., price/quality, user imagery & status play a big part for Grand Seiko).
Go here for 5 Cs: https://scalefinance.com/the-5-critical-cs-of-pricing/
2) Consider the pricing objectives and strategies (Must refer to the attachment under week 4 readings & resources – Pricing obj. & strat Penn
a) What are the pricing objectives for Seiko? What is the pricing strategy for Seiko?
b) What are the pricing objectives for Grand Seiko? What is the pricing strategy for Grand Seiko?
c) Why would customers buy Grand Seiko for a much higher price (what\’s the motivation)? Discuss the differences between the 2 brands in terms of – the actual products and functional benefits vs. the perceived psychological/emotional/social benefits.
Requirements: 1.5 page
Answer preview to read about 2 sister brands – Seiko and Grand