Historically, price has been the major factor affecting buyer choice. ( Marketign: an introduction. pg259)
The price of a merchandise should be accessible to the average consumer. If the price is set too low , the customer will not trust the quality of the product. In the contrary, if the price is too high, the customer will not be very interested in bying the product.
If customers percieve that the price is greater than the product's value, they will not buy the product. If the company prices the product below its cost, the company profits will suffer. (Marketing: an introduction. pg 259-260)
The value of product, in this case the cookbook, will be determined by the value of use of itself and by the amount of work socially useful spent in the making of the cookbok.
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