Pricing Strategy for Innovative On-the-Go Hydration Startup

Project Overview

This innovative startup – founded by global hardware manufacturing and design experts in the reusable water bottle and water filtration space – has developed a groundbreaking portable device that allows users to transform plain water into sparkling water on-the-go. This product caters to health-conscious consumers seeking convenient and sustainable hydration. The company aims to position itself as a leader in eco-friendly beverage technology by highlighting the device's portability, ease of use, and environmental benefits.

The project involves analyzing various pricing options, understanding consumer willingness to pay, assessing competitor pricing, and considering production and distribution costs. The goal is to recommend a pricing strategy that maximizes profitability while ensuring market acceptance and supporting the brand's positioning as a provider of sustainable and innovative hydration solutions.

Scope of Work

The goal of this project is to:

• Conduct market research to understand consumer perceptions and willingness to pay for the product.
• Analyze various pricing strategies and their applicability to the product and target market.
• Evaluate competitor pricing and market positioning to identify opportunities and threats.
• Develop a pricing model that incorporates costs, desired profit margins, and market factors.
• Prepare a comprehensive report detailing findings, analysis, and recommended pricing strategy.

Who Should Apply

‍This project is ideal for:

• MBA students, recent graduates, or professionals with experience in pricing strategy, market analysis, or financial modeling.
• Individuals with strong analytical skills and a keen understanding of consumer behavior and market dynamics.
• Those who enjoy developing strategic solutions to real-world business challenges and have an interest in innovative consumer products.

Recognition

‍At the completion of the project, the successful candidate will receive:

• Written Feedback – A detailed assessment of performance and final work product.
• Testimonial – A professional recommendation on LinkedIn or a company website.
• Professional Endorsement – A recognition of skills and contributions to the project.

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