Wednesday, August 28, 2013
Final Project: Price
"When introducing new products, it’s usually not easy to determine at what price it should be offered. At the very least, however, a marketer must understand the costs associated with producing the product and set the price at some level above those costs." (Marketing: An Introduction, Armstrong and Kolter, page 271) Champ's Irish Breadsticks will be priced at $3.99 per package. This price should be acceptable to the target customer, because they are most likely already spending anywhere from $8.00 to $15.00 per cocktail or high-end beer anyways. There is a great value in this pricing choice, because they are paying a little extra for something that is quality made and produced. "In the end, the customer will decide whether a product’s price is right." (Marketing: An Introduction, Armstrong and Kolter, page 276)
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