blog writing #economic development in developing nations

While considering the US cellular market, I believe the most appropriate pricing strategy for Virgin Mobile will be option 3 “A Whole New Plan.” By considering this pricing structure, Virgin Mobile will preserve buckets and volume discounts while charging a lower fee per minute. Consumers will get the best deal if the pricing is below industry average, and the company will appear more affordable and straightforward. Virgin Mobile will also be in a better position to provide alluring off-peak hours as a result of this. Furthermore, this pricing plan will have less hidden costs, which will help clients develop a long-lasting perception of the company and its products. The rationale for such a pricing strategy is that the demographic of 14- to 24-year-olds doesn’t have the financial ability to pay costly and luxurious cellular packages. As such, Virgin Mobile's inexpensive price strategy will appeal to this target group more. Similarly, it will allow Virgin Mobile to gain customers when they are young and keep them for later years, enabling the company to develop a long-term customer base for its goods.