Impact of Pricing Strategy on the Customer Loyalty in the Retail Industry: a Case Study of Tesco

3485 words 14 pages
Table of Contents

1- Introduction 1
1.1 Topic 1
1.2 Background and Context of Study 1
1.3 Rationale of Study 2
1.4 Research Question 2
1.5 Research Objectives 2
1.6 Hypothesis 3

2 - Literature Review 3
2.1 Retail Industry (Retailing) 3 2.2 Definition of Strategy 4
2.3 Pricing Strategy 5
2.4 Types of Pricing Strategies 5
2.4.1 Penetration pricing 5
2.4.2 Skimming pricing 6
2.4.3 Competition pricing 6
2.4.4 Product Line Pricing 6
2.4.5 Bundle Pricing 6
2.4.6 Psychological pricing 6
2.5 Customer behaviour 6
2.6 Customer Loyalty 7
2.7 Pricing strategy and customer loyalty 8

3 -
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The organizations work flexible and team based follow this type of setting. Their organization structure is matrix in nature which enables them to adjust with the changing business environment. This is going on debate whether the organization should plan them for a long time or they just adjust and re-adjust with the changing conditions. With all these, the word strategy is most used in the business world. The organizations formulate their strategy in some shape. While making the strategy the organizations analyze their strengths and weaknesses. The main consideration in the formulation of strategy is price of product, defining the market, distribution of product, etc. though formulation of strategy is purely subjective issue, but still some of the organizations use some historical information for the strategy formulation. The financial data of company is most important information used for the strategy formulation. The main aim of the organization is to stay and operate in the market is to get more revenue and increase their profit. They use different strategies and processes. The pricing strategy in this context is most important focus of most of the organizations (Duffy, 1998).

2.3 Pricing Strategy
Davidson and Simonetto (2005) tell that pricing is one of the most important components of marketing mix. It is only element of marketing mix which generates revenue for the organization. Other three elements

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