Final Project- Price

Final Project- Price

“For most purchases, consumers don’t have all the skill or information they need to figure out whether they are paying a good price” (ARMSTRONG, KOTLER, Marketing An Introduction, chapter 9, page 42). Yes, they don’t have the time and ability to figure out if they are getting the best price. Most of the time, we have to give helpful hints like: price-matching guarantees.

Most importantly, it is not how much they pay. It is how much value they get. Would someone pay $99999.99 for a box of chocolates? Yes, of course there is. Would the Sweet Nightmares sell at that price? No, because it doesn’t worth that value. It would be in the $20- $60 pricing range. There is also be promotional pricing, “temporarily pricing products below the list price, and sometimes even below cost, to increase short-run sales” (ARMSTRONG, KOTLER, Marketing An Introduction, chapter 9, page 42). The Sweet Nightmares will do promotional pricing during holidays including: New Year, Christmas, Valentine’s Day, and etc.

The Sweet Nightmares is a product of happiness and surprises. In another words, it is a box of chocolates which has ten same looking but different tastes chocolates. Happiness, surprises, and chocolates are just wants not needs, people can survive with them. But if we set the right price to persuade people that they are getting the right values, then it would be win-win situation.