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What does PRICE represent to the consumer? To the marketer?

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The PRICE "P" is important to the marketer. Yet, when we look at price, it is more than just a dollar figure. What does PRICE represent to the consumer? To the marketer?

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The expert determines what the PRICE represents to the consumer.

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The PRICE "P" is important to the marketer. Yet, when we look at price, it is more than just a dollar figure. What does PRICE represent to the consumer? To the marketer?

Before I begin it is important to understand where this question is coming from. Providing more than just an answer will assist you in fully understanding the purpose for this question in your studies.

This question is relating to the marketing mix, also known as the four P's. Product, Place, Price, Promotion. When one of these areas is lacking then the whole marketing mix fails. It is important ...

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