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First P of the Marketing Mix in Modern Branding
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[QUOTE="Phronesis, post: 70005, member: 25865"] [B]Price [I]Your price point should be most definitely aligned to the position that you want to own in the mind of your audience and should also take into consideration the value that your brand is offering and the cost associated with delivering that value as well. Of course, if you want your brand to be associated with luxury, your price is going to be relatively high. On the other hand, if you want to be associated with a budget then your price is going to be relatively low but you need to define the position that you want to own in the mind of your audience before deciding on a price and then use the pricing consideration to settle on your price point. It can go a little deeper here in terms of tactics and techniques on a daily, weekly, or monthly basis just ongoing in terms of your pricing strategy but all of this is considered within the price.[/I][/B] [/QUOTE]
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