Factors Affecting Pricing Decisions

Factors Affecting set DecisionsThe commercialise type of lx is monopolistic competition. This type of market has umteen spoilers and sellers due to the low barrier of entrance into the market and this fixates the market more than competitory. Example of the competitors like Dettol, Safeguard, Protex and others result sell unlikeiated products of liquid ecstasys, at different expenses in the market.The factors that extend to the determine decisions of lx are the demand of the market and the taste of customers. In order to get hold of the heart of the consumer, sixty Soft Touch Beauty barricade has clearly stated its rate market yellowish pink soaps. Literally, lx Soft Touch Beauty impede is more towards female market.From the official website of lx, it stated thatLuxuriate in the champ of moisturized splutter with LUX Soft Touch liquid soap beauty bar, one of Luxs coveted skin care beauty secrets. Enriched with the exclusive Silk Protein rive and Cherry Cream, i t forms a light creamy layer, which covers your skin, helping to hold in the moisture that dry skin needs. Like a goddess dressed in a silk gown, youll leave for the day with self-confidence, feeling elegant and in command.From the above-mentioned, we hobo clearly see that Lux Soft Touch Beauty Bar is more for female that provide protection to their skin and make their skin smoother after using it. This is different from the other ordinary soaps that obtain on anti-bacterial. This makes the female consumers more fast(a) to Lux.Since there are loyal customers on the market, the demand of will also increase or make a constant in the long run. And due to this, the terms of Lux Soft Touch Beauty Bar will not governing body to the huge changes of price in the market.2.2.2 New Product pricing strategiesIn order to extend the line for its red-hot product to sell in the particular market, market penetration should be the new product pricing strategies of Lux in order to increase gross revenue and demand in this competitive world.To penetrate the market, Lux will not have whatsoever problem because its an existing deformity with high reputation in the menstruum market. But the following things should considerPenetrating the brand of Lux direction adding some new and attractive features on the product and also taking into consideration the effective communication which will turn into a new value proposition for the product.In order to increase more sales Lux should concentrate on the appropriate reduction of cost which will directly lead to gain leadership in price. Once price will be reduced more and more consumers will attracted to bargain for the particular product. Moreover by reducing the price of the particular soap Lux will once more have growth in their product and it will be very helpful to survive in the competitive market.Lux will also have to do product using for the product line extension and it will be done with by introducing new body wash so ap with an existing shout and it will also launch new products like introducing Lux face wash all this will ultimately lead to increase in their sales and again to grab the new target market audience for the product. This strategy not unaccompanied to increase the profit for the company only also to produce new products in the existing market for brand awareness to the consumers which will have greater impact on the consumer to buy the particular product at very low price and again to boost the sale for the personal care product.2.2.3 Product Mix set StrategiesLux is currently using product line pricing. Since Lux is a large brand, it manufactures many types of product. Therefore it needs to set price stairs between various items in a product line base onCost differences between products The difference cost of products will affect the price of the products when market. The range of products includes beauty soaps, shower gels, bath additives, hair shampoos and conditioners. gu est evaluations of different features The customers of Lux are more on female. Therefore, Lux should everlastingly need to attract the attention of its target market to make surely they will consume the product of Lux.Competitors prices Lux are not only soap in the market, therefore it needs to take consider of the price of competitors when pricing its product. This will make a competitive advantage to Lux.Besides, Lux is also using product bundle pricing. They combine the Lux mild touch beauty bar 3 in 1 and spin the bundle at a reduced price. Pricing bundles of products sold together.2.2.4 charge Adjustment StrategiesThe price adjustment strategies relate to all the strategies implemented by an organisation that takes into account the differences between customers and rapidly changing. Lux is using multinational pricing strategies. Lux is an international product and brand over degree centigrade countries, so its priced differently for each of the countries. For example, the price of Lux in Malaysia is approximately expensive comparable to South Africa. This is because the economic level of South Africa is raze than Malaysia.Besides, Lux also uses promotional pricing techniques. The normal bundle of Lux soft touch beauty bar is 3 in 1, only when sometimes, in order to increase demand, Lux will make it into 4 in 1. This will increase the consumer consume more unit of Lux soft touch beauty bar when this promotion.