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. 

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?

Answer rating: 100% (QA)

Setting the right price for a product or service is indeed a critical aspect of marketing strategy Its a balance between cost considerations perceived ... View the full answer