ADM 2320 Lecture Notes - Lecture 16: Tooth Whitening, Marketing, Marketing Mix
9 Dec 2016
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Not an after thought to the rest of the marketing mix. Pricing signals quality or a lack of quality: coming up w/ the right price is never easy. If a marketer sets a price too high or too low, wrong message gets sent to the market. *note*: price refers not just to money but also other costs such as time. Price is usually ranked as 1 of the most important factors in purchase decisions. Price = only element in the marketing mix that generates revenue: every other element in marketing mix may be perfect but, w/ wrong price, sales simply will not occur. It is easy to make a mistake on price & when you make a mistake, If you price too low, you leave money on the table (losing money!) If you pri(cid:272)e too high, the(cid:374) your (cid:272)usto(cid:373)ers (cid:449)ould(cid:374)"t (cid:271)uy it.
