How the price for FedEx services maximizes profit for the company
FedEx provides shipping services for various purposes. The service price depends on the type of the product to be shipped, the distance of product delivery, and the deadline within which the product should be delivered. As a result, pricing strategy will be improved in case the company offers moderate prices for high-risk deliveries. It is also possible to introduce discounts for regular customers to sustain a competitive advantage over other companies.
How FedEx should increase its competitive stance in the marketplace
FedEx strives to establish equally favorable relationships with their customers, employees, suppliers, and partners. In order to sustain a competitive advantage, the company should introduce a fixed pricing strategy for both the customer and suppliers. In addition, as an international company, the company should introduce a strong advertising campaign to keep abreast of the changes at the international market.
Recommendations for changes in the marketing and pricing strategies of FedEx
FedEx should implement a marketing mix concept through combining the controllable variable to meet the requirements of a target group. In terms of product analysis, FedEx should choose a new distribution channel and extend the product line. Place concept should introduce a new customer base to meet the location requirements. Promotion strategies of the company should rely on developing a brand identity. Finally, price considerations should embrace competition, customer reaction, and other socioeconomic factors.