Thursday, September 1, 2016
Price
The Price of this product will be reflective of both its manufacturing cost as well as its competitors. It will fluctuate depending on the size of the bottle, flavor, ect. But it is safe to say we will match our competitors prices with the goal of customers choosing our quality over theirs. "The price they set for each product depends mostly on two factors: the
demand for the good or service and the cost to the seller for that good
or service. (Page 361)" With this in mind matching our competitors will display our quality as equal to theirs encouraging people to buy it and enjoy their purchase as if it was the other brand." Price plays two roles in the evaluation of product alternatives: as a
measure of sacrifice and as an information cue. To some degree, these
are two opposing effects. (Page 357).
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