Pricing is one of the most interesting variables in marketing, because the seller can choose any price. I like to call it “magic” because if you can sell a car for $1 Million, and if you can convince the buyer that there is value at that price, you can make that sell. Watch these videos and think about why sellers set prices as they do. How should a company set price? Is it based on cost position or marketing value? Provide a few examples of companies that clearly use certain price strategies. How does pricing affect brand image? How does pricing effect the supply chain of a company?
