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Price in the Marketing Mix

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What is an example of a marketing mix that has a high price level but you see it as having good value? Explain in detail what makes it a good value.

Your response should be at least 300 words in length.

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Solution Summary

This discussion is a response to the importance of price and justification of high price level in the marketing mix, with an example of a suitable product. The discussion focuses on how price fits within the marketing mix and explains why consumers are willing to pay the higher price for the product.

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A marketing mix with a high price is iPad. This tablet PC is more than simply a computing device. It is a means of electronically connecting to the world and to social groups. There are many other tablet brands on the market, but none with as popular and recognizable a name. Strong branding by Apple, Inc. had created demand for the product. The value of the product is in its function and in its perceived quality. Quality perception can be viewed as the link between the quality offered by the producer and the quality viewed by the consumer (Oude-Ophuis & ...

Solution provided by:
Beatrice Martino, MEd
Education
  • MEd, Jones International University
  • BSc, DeVry University
  • MPH, Walden University
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