Wednesday, August 29, 2012

Price

"In the narrowest sense, price is the amount of money charged for a product or service. More broadly, price is the sum of all the values that customers give up in order to gain the benefits of having or using a product or service".Armstrong & Kotler (2011). Marketing: An Introduction, 10th Ed. Prentice Hall Publishing. The price of the tickets to enter the event would be about 5 dollars. The cost of the shirts may vary anywhere from 5-25 dollars depending on the shirt. Meals will still be as listed in the menu at the restaurant.   "Price is the amount of money customers must pay to obtain the product". Armstrong & Kotler (2011). Marketing: An Introduction, 10th Ed. Prentice Hall Publishing.

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