Pricing strategy in the marketing mix
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Consumers make decisions to buy when they see a price that means a fair value to them. Some people pay over $50000 for a car and others will only pay $10000. Show some ways marketers can improve the "value" of the goods they sell (Example: the environment of where the product is sold).
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Solution Summary
Consumers make decisions to buy when they see a price that means a fair value to them. Some people pay over $50000 for a car and others will only pay $10000. Show some ways marketers can improve the "value" of the goods they sell (Example: the environment of where the product is sold).
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When viewing the marketing mix, it is important to understand that there is an important interplay between product, price, placement, and promotion. If an adjustment is desired in any one of these, in this case price, then adjustments must be made in the some mixture of the other three (product, placement, and/or promotion) to advocate the pricing change to the market and the buyers.
To improve the value of the goods to the market, and hence be able to increase the ...
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