pRICE Marketers must find a good balance between customer value and satisfaction and between company cost and profit.
{"Image DocumentName": "pRICEMarketers must find a good balance between customer value and satisfaction and between company cost and profit.", "Image ImageDescription": "Marketers start by determining their pricing objectives: Getting their products into more customers\u2019 hands\u2014might be accomplished by lowering the price. Helping customers view the business as distinct from its competitors\u2014might offer something unique. Bringing in the amount of income they need/want\u2014involves pricing the product high enough to cover expenses and provide a profit. Raising the product\u2019s value in the customer\u2019s eyes\u2014involves getting customers to view the product as higher quality. Matching the product\u2019s value with what customers expect to receive\u2014setting prices at the level customers expect. Marketers also determine how they will accept payment\u2014cash, credit, debit, or check? They decide whether they will offer discounts. Marketers know they\u2019ve been successful with the price element when customers feel that the benefits they receive outweigh the costs, and the business is bringing in enough revenue to make a profit, while keeping prices low enough to encourage sales.", "Image XResolution": "37", "Image YResolution": "37", "Image ResolutionUnit": "Pixels/Centimeter", "Image Software": "SlidePlayer", "Image YCbCrPositioning": "Centered"}