"Price
The amount of money charged for a product or service, or the sum of the values that customers exchange for the benefits of having or using the product or service." ( Marketing: An Introduction, 10th Edition Page 275 )
The price of the product will be around 5 American dollars. for other countries a calculated match will have to be made to keep the product price relatively even between all countries based upon the American cash value.
"The price the company charges will fall somewhere between one that is too high to produce any demand and one that is too low to produce a profit. Figure 9.1 summarizes the major considerations in setting price. Customer perceptions of the product’s value set the ceiling for prices. If customers perceive that the price is greater than the product’s value, they will not buy the product. Product costs set the floor for prices. If the company prices the product below its costs, company profits will suffer. In setting its price between these two extremes, the company must consider a number of other internal and external factors, including competitors’ strategies and prices, the company’s overall marketing strategy and mix, and the nature of the market and demand." ( Marketing: An Introduction, 10th Edition Page 275)
The price of the product will be around 5 American dollars. for other countries a calculated match will have to be made to keep the product price relatively even between all countries based upon the American cash value.
"The price the company charges will fall somewhere between one that is too high to produce any demand and one that is too low to produce a profit. Figure 9.1 summarizes the major considerations in setting price. Customer perceptions of the product’s value set the ceiling for prices. If customers perceive that the price is greater than the product’s value, they will not buy the product. Product costs set the floor for prices. If the company prices the product below its costs, company profits will suffer. In setting its price between these two extremes, the company must consider a number of other internal and external factors, including competitors’ strategies and prices, the company’s overall marketing strategy and mix, and the nature of the market and demand." ( Marketing: An Introduction, 10th Edition Page 275)
"Author Comment
Setting the right price is one of the marketer’s most difficult tasks. A host of factors come into play. But finding and implementing the right price strategy is critical to success." ( Marketing: An Introduction, 10th Edition Page 275)
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