How does price impact your purchase decision for the product

Assignment Help Marketing Management

Reference no: EM131347943

Marketing Discusion Posts

Part 1

The Impact of Pricing

• Price is the only element in the marketing mix that produces revenue all other elements represent costs.

• How do price decisions affect the other three P's? Select a product that you regularly buy.

• How does price impact your purchase decision for this product?

• How does it impact your perception of the brand? Does the company's pricing strategy help build a long-term relationship with you by creating value?

• Why or Why not?

• Remember to include the link to your product of choice in your discussion board response for others to review.

Part 2

Respond to two peers discusion posts

Peer 1 Jay

There is lotion that I buy and have been buying for the past several years and it is called P.Latouche. I found a PROMOTION online advertising it. I have never seen it in any store that is local to me. The only way I can purchase it is online at amazon.com. The three P's come in to play first by PRICE. The lotion is priced a little bit on the expensive side for a 16 ounce bottle of lotion, normally running around $10-13. The PRODUCT itself is wonderful. It has such a pleasant scent and it keeps my skin extremely soft. I do not wear a lot of perfumes, so as far as the scent goes, this flips the bill. I shop online quite a bit and the only PLACE to purchase this lotion is on the amazon.com website. It is an excellent product and one that I highly recommend. I have introduced several people to it and when I am out in public, people always ask me what is that perfume you are wearing. I get so many compliments on P.Latouche body lotion and I never have to go into a store to purchase it.

Peer 2 Quiant

The price decisions affect the other three P's because they are all in the marketing mix the marketing is a strategy of price, product, place and promotion pricing affect the area in where they sell the produced and the product could not be sold in poor areas depending on the product. My product is the Samsung tablets, the tablet is only sold in the mid-city area for the cheaper price. The price impact my purchase decision because it is twenty-five dollars more where I live so I go to another city to purchase the tablet I will not purchase it in my city so I waited a whole year just to drive and go get it. The tablet Samsung is marked too high in poorer areas to me and they have it priced for $65 dollars, I asked them why is it high and they said because they have great televisions. No, it does not help me build a long-term relationship with the company it makes me look for a different brand.

Reference no: EM131347943

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