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Pricing of Products

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Select a product or service. Then select three different organizations that provide your selected product or service and compare the prices associated with your selected product or service. What is the difference between the prices among the different organizations? What is the rationale for this difference?

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Solution Summary

This post will examine why some products are priced higher then others when sold at different retailers. This solution is 432 words.

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Prices should reflect the value that consumers are willing to pay.

In the market, there are many different options available to consumers - from low end products to high end designer one.

Let's look at water bottles. Prices can differ in different stores, and even depend on the type of water.

If you walk into a grocery store, you can see an entire row of water bottles. Some are marked with store brands, while others are designers ones (i.e. - No name vs. Evian). This is normal and much expected since there are different types of consumers. Some consumers want the cheapest price - and ...

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