Pricing

By now, you should have read about different pricing strategies and the factors that come into play as businesses are deciding what to charge customers for their goods/services.

1. What strategy/s would you use if you started the business you came up with in the Icebreaker Assignment? Why do you think this method/s would work best for your business? In explaining your strategy, be sure to communicate which factors you are taking into consideration.
2. Watch this video on The Decoy Effect in marketing. Do some additional research online to tell me what the decoy effect is and how marketers use it in their pricing strategies. Do you think this is deceptive or just good consumer psychology?

Mkt 120 chapter 19