Friday, November 28, 2014

Marketing Mix:Price

price is the amount of money charged for a product or service. More broadly, price is the sum of all the values that customers give up in order to gain the benefits of having or using a product or service

If consumers thought the best deal was simply a question of money saved, we’d all be shopping in one big discount store,”

Hard to find, impossible to pronounce, and prohibitively expensive.”

the key component for Banquet dinners—the key attribute—is you’ve got to be at $1,” says ConAgra’s CEO, Gary Rodkin. “Everything else pales in comparison to that.”

Value is the magic word,” says a P&G marketer. “

The price of my product will be no higher than $2.99. I have chosen that price the reasoning is because it will be sells in a bar and also its a snacks. The price of a snacks shouldn't be any higher than $4.99 that cause it will be sells overprice. When go into a bar food is not pricing and the meal is small not to big. When eating in a bar and drinking customers just wants something small just to full them till their next meal. Bar food is almost like finger food for guys instead. Guys at bar don't have time to be clean and care about the mess their creating. All guys care about in a bar sports game, who winner, where their next drink and also where the food. The price of my product will be low but yet small for any guy that could enjoy while watching the next sports game. Also the bar would like my snacks for their bar that cause its salty and that makes guys or anyone drink more. Not only my product is making money but also bars are making money on their different kind of alcohol.

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