MKT500 Unit 4 Discussion - Pricing Products

WEEK 4 DISCUSSION - PRICING PRODUCTS (MKT500 Marketing Management)

• Watch the video in the LEARN section of our class. 

B2B Marketing Foundations: Pricing Strategies: Linking Marketing and Pricing Strategy (3:28).

• Discuss two areas of price sensitivity for your hypothetical business and how each of these could potentially affect consumer adoption of this product or service. Areas of price sensitivity include: customer purchasing preferences, brand loyalty, price of purchase compared to income, item is a luxury versus a necessity, there are many viable substitutes and it is easy to compare prices.
• This should be a 300 – 500-word discussion.
• Before you answer this discussion, please read these articles for a very different perspective.

Consumers snap up premium products despite cost-of-living crisis at CNBC Personalized coffees, "prestige" skincare and "elevated" spreads: companies are focusing on premium products and consumers seem to love it.CNBC

This Vodka Costs Nearly $4 Million How much would you spend on a bottle of vodka? If you've got a few million lying around, maybe you'll like to try high-priced Billionaire Vodka.TastingTable.com