Outline the factors a marketing manager might consider in determining the selling price of products at 'All-Weather Wellies Ltd'. - Leaving Cert Business - Question C - 2013

Given the intense competition in the clothing and footwear industry, the marketing manager should analyze competitors' pricing strategies. The pricing structure, especially if 'All-Weather Wellies Ltd' aims to penetrate the market, will inform the pricing strategy adopted to gain market share.

The brand image of 'All-Weather Wellies Ltd' is crucial. If the product is marketed as a high-quality item, the price might be set higher to reflect this image and consumers' perceptions of superior quality, potentially employing a premium pricing strategy.

Identifying where the product stands in its life cycle is essential. For new products, the price may need to be lower initially to recover R&D costs quickly, while established products might command higher prices as they move through their life cycle.

Understanding the target market and the types of consumers is important. Different segments may be willing to pay different prices, and seasonal events can influence demand and price acceptance.

The expected demand for 'All-Weather Wellies Ltd' products is a key consideration. High demand might allow for higher pricing, particularly if the product is new and attractive to consumers. This demand should be monitored continually to adjust pricing strategies accordingly.