December 2017
Intermediate to advanced
390 pages
7h 51m
English
Content preview from Measuring MarketingBecome an O’Reilly member and get unlimited access to this title plus top books and audiobooks from O’Reilly and nearly 200 top publishers, thousands of courses curated by job role, 150+ live events each month,
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Part 6: Price Metrics
A product’s image is influenced by price. High prices convey high quality and the corollary is true for low prices and low quality. At a minimum, price is a mechanism for marketers and their companies to recover their costs. More strategically, price is a signal to the market about the position and quality of the offering.
The most important consideration is how price aligns with the company’s strategic objectives and contributes positively to the company’s reputation. Is the company’s strategy based on rapid sales growth? Then a low price, economy or penetration, strategy will be chosen. Is the objective profit maximization? ...
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