Electro-Light Light Emitting Diodes will be available to customers at lower prices as compared to competitors coupled with superior quality in both traditional Light Emitting Diodes and organic Light Emitting Diodes. The company will benefit immensely from the strategic location of Russia as the company will be able to market the product in areas where Light Emitting Diodes have not been extensively introduced. Several markets of Europe and Asia who do not have access to low price Light Emitting Diodes will be able to purchase directly from the proposed company instead of costly imports from other countries. The Light Emitting Diodes will be available in all specification with sizes ranging from 5mm to 8mm and both in cylindrical and rectangular shapes. The image of Electro-Light Light Emitting Diodes will base on consistency in quality standards with affordable prices. Unlike its competitors Electro-light does not make any compromise on affordability and quality.
6.3.2 Pricing Strategy
The price structure of the company products will be designed to target the companies already purchasing Light Emitting Diodes at higher prices from competitors. The initial prices of the company will be set at quite a lower level than competitors and a market penetration strategy will be applied. When the brand is established in the market the company will adjust price levels according to competition which will be slightly lower than normal market prices. The low price offered to these companies would be quite attractive with higher standards of quality and easy accessibility through Russia. The pricing strategy of the company entails price setting according to the demand of Light Emitting Diodes in the market and the price of competitors. The company will also offer discounts in the early stages of its establishment to increase the volume of sales and create an image for its brand of Light Emitting Diodes. The company will take advantage of prices in areas where there is lower competition from other manufacturers.
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