Reflective Journal: Evaluating Pricing Strategies & Market Forces

This reflective journal analyzes student responses regarding pricing strategies and market forces. It evaluates perspectives on cost versus perceived value, the impact of market analysis, and the significance of strategic planning in pricing decisions. The journal critiques individual viewpoints, offering constructive feedback on clarity, strategic depth, and consideration of consumer behavior. It further emphasizes the importance of brand image, cost analysis, and adapting to market dynamics for successful product positioning. This document provides a comprehensive overview of different pricing perspectives and their implications in a competitive market environment.

Running head: REFLECTIVE JOURNAL
Reflective responses on the statements of the students
Name of the student:
Name of the university:
Author note:

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Response 1
Hi Micheal
While reading your opinions, I found that you laid stress on the market forces, which
adversely affects the positioning of a product or brand. You are very straightforward in your
response, which provides the opportunity to the readers to understand your arguments on
positioning of a product. You have correctly pointed out that cost includes licensing and
tariffs, which influences the purchasing decision of the customers. You are correct in
projecting the importance of analysis in terms of increasing the profit margin. I affirm your
viewpoints about planning while catering to the price fluctuations. This is in terms of
bestowing innovative products upon the customers.
I liked your point regarding the consequences of positioning a product with high cost.
I support your decision regarding consideration of the new entrants for securing the market
position within a competitive ambience. I liked the way you compelled the companies and
organizations to be rational and alert in terms of dealing with the price fluctuations. I
appreciate your viewpoint regarding starting the product as premium. I think premium pricing
would help the personnel to identify the target audience. Especially, I would praise you for
emphasizing the need of strategic approach towards dealing with the sudden changes in price.
I can rate your statement as 4, as you have pointed the importance of strategic
approach towards stabilizing the financial parameter. I think this rating would act as a
valuation for voicing out your valuable opinions regarding the impact of market forces on
cost.

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Response 2
Hi Shelby
Addressing the audience as a whole reflects that you are considering everyone as a
part of your research. I think this address is formal. While going through your statements, I
found that the sentences are very long. Putting such long sentences makes the readers
confused, which aggravates their complexities in understanding the crux of your opinions.
However, I think you have done a good job in placing yourself in place of the customers.
This seemed convenient in making the audience acquainted with the market dynamics and
emerging successful in possessing quality products. Demands of a customer towards wanting
to buy a good product are obvious. Here, I like your focus on the cost for getting quality
products. I feel saving is necessary in terms of maintaining the balance between the personal
and professional life.
You seem to be accurate in terms of pricing the products. This accuracy is assistance
for the customers regarding exercising their purchasing power. You are right in pointing put
that brand image attracts the customers. It is the brand image, which answers all of the
queries of the customers regarding the product.
Perspective of a producer is praiseworthy in terms of projecting the situations, which
the marketers undergo, for executing the transactions. Highlighting the issue of adopting
wrong means in marketing is highly appreciable. Consciousness towards this issue reflects
your Samaritan attitude towards the needs, demands and requirements of the customers. Your
statements can be rated as 3.5 in terms of strategic planning, which is required for taking
correct decisions for enhancing the brand image.

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Bibliography
Ahmetoglu, G., Furnham, A., & Fagan, P. (2014). Pricing practices: A critical review of their
effects on consumer perceptions and behaviour. Journal of Retailing and Consumer
Services, 21(5), 696-707.
Davcik, N. S., & Sharma, P. (2015). Impact of product differentiation, marketing investments
and brand equity on pricing strategies: A brand level investigation. European Journal
of Marketing, 49(5/6), 760-781.
Hu, M., Li, X., & Shi, M. (2015). Product and pricing decisions in crowdfunding. Marketing
Science, 34(3), 331-345.
Nagle, T. T., Hogan, J., & Zale, J. (2016). The Strategy and Tactics of Pricing: New
International Edition. Routledge.