In this module, you reviewed many of the different factors that
influence the pricing process. One aspect of the pricing process is the
brand image and the brand equity related to the product (discussed in
previous modules). Explain how these two items may influence the price
you can establish for your product as it relates to your Team Project
Product. Support your answer with additional outside materials (apart
from the text). Read the attached document and answer the following questions:
What
do you think your brand image is in terms of quality and value to your
consumer? Are you high-end, low-end or in-between? Explain as it
relates to your major competitor.
Given
the image you want to project and where you are in the Product Life
Cycle (studied in previous modules), what type of pricing scheme do you
think you should use (e.g., prestige pricing, penetration pricing,
skimming pricing, bundle pricing, odd-even, value, etc.)? Why will this
scheme work best for your target market?
What do you think your final price might be for this product? Provide a realistic range and discuss why.
Cite and list sources to support your comments using APA format.
ENSURE you CITE the following text 3 TIMES in the discussion post:
Peter, J. Paul and Donnelly Jr., James H. (2019). A preface to marketing management (15th
ed.). McGraw-Hill Education, New York, NY. 9781260151619:
