Hi, need to submit a 1250 words paper on the topic Pricing Product, External and Internal Factors Affecting Pricing Decisions.
The product that Delicious Food Restaurant will be bringing to the Chinese market would be unique and specific to the Chinese market. The product would include a variety of supplies in the main category of fast foods. Some of the introductory products could include Chinese Fish Flavor and Chinese Chicken Flavor. The flavors that the company would adopt include delicious indigenous flavors. The term indigenous would fit perfectly in the trademark description since the products would involve the most important food products to the Chinese culture, which include chicken and fish. The color of the products would vary with the product type. However, most of the flavors would have a golden brown color. In the same way, the shape would vary. For instance, the foods with fish flavors would be prepared with a fish shape so that it would be easier to identify them. Additionally, chicken flavors may be prepared to have the shape of a chicken’s wing. Packaging would only be done at a customer’s request. The packaging would include degradable material such as paper packages that have specific identification to the company as the main labeling along with some information concerning other available products.
The Chinese population has been on a constant rise where the country has above 1 billion people. This population is very promising for the company since the large the population the higher the probability of acquiring a large market once operations commence. Consumer preference shift from traditional foods is causing an expansion in the fast-food market each day. In fact, China is one of the biggest fast-food markets globally implying that it presents endless opportunities for the companies venturing into the market. The Chinese fast food market increased in revenues by approximately 13% annually reaching an approximated $94 billion by 2013 from $74 billion in 2010. The future prospects maintain that the market will continue growing both in size and in revenues due to the increasing adoption of the western culture in China (Smith).