Explain how branding influences the final price

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Assignment - Marketing Mix Variables Discussion

Description - No one would dread pricing if pricing were as simple as just calculating a number. As demonstrated in the opening component, many different aspects impact the price you will charge for your product. All of the different Marketing Mix Variables will influence the price you charge.

In Module 5 you explored the concept of Product. In that module, you learned about brand and branding and the importance of branding to the success of the product.

Reflecting back on the discussion of branding and brand equity answer the following question:

Explain how branding influences the final price that a business can charge for a product? In your answer, reflect on your favorite brand of shoes or clothing and explain how the brand impacts the price that the company can charge and the price that you are willing to pay. Be very specific in your discussion.

Reference no: EM133264280

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