The Marketing Mix: PricePosted in Blog
Price: Is it Right?
Correct pricing can be one of the most perplexing components of the marketing mix. Companies need to cover their costs and make a profit, but they must also be competitive and meet market demand and expectation. Good market research will provide essential clues to solving the pricing riddle. At whatever the price, customers must perceive a value to your product or service, or they won’t buy it.