Please help with the following marketing problems. Provide brief answers for each.
Discuss the relationship between price and value. Does a low price necessarily mean a better value? Give an example to illustrate your opinion. How can a firm offer good value in a mature market where price is the only visible means of differentiation?
See below for the solution to your problems.
Discuss the relationship of price to value.
There is a direct relationship in regards to the price and value of an item or service. Generally, products are priced to first and foremost meet the raw costs associated with the product, and then the final output as well. Marketers price goods depending on the perceived value they believe it should give to the end consumer. Of course this is the noble assumption that holds. As a result of this, generally ...
The following solution answers various marketing-related questions. The concepts discussed in the answers include price, value, markets and differentiation.