Marketing Mix of Sony

Price - is the amount of money expected, required, or given in payment for something (Business Dictionary, 2014).

Prices in a market economy are very important. Price allows us to give out goods appropriately to those who are able to pay.

Thirdly, option is to strategically adjust the prices of their products because consumers are often very price sensitive. By doing so the company can either create more value that defines the quality and quantity of the product.

Price is the cash expenditure plus taxes that consumers have to pay for a good or service.

Price is defined as “The value that will purchase a finite quality, weight or other measure of a good or service” (Business Dictonary). When growing up your parents always said, this is too much money so you wouldn’t be able to get that candy bar or video game because the price of the product was too high. Whether this be because of high price the person that made this product had to out some research into the idea of how much they should sell this product for, how much profitability am I making at the end of the day after all deductions are taken out. The price is what set’s your product apart but a high price mean’s that you need to market the product very well to get people to buy it and build a quality product to get raving reviews. At Starbuck’s they always advertise giving you incentives and low prices. Summer time they do Ice Blended hour, which from 3 pm to 5 pm they offer their ice blended

Many firms may have to seek profit maximization through trial and error. e.g. if they see increasing price leads to a smaller % fall in demand they will try increase price as much as they can before demand becomes elastic.

Price refers to the amount paid by customers to enjoy the products being offered (Perreault Cannon & McCarthy, 2013). The cost of high cost of healthcare is often considered as a major concern by

The price that we pay is the value that we associate to any product, whether it is a good or service. It is the compensation given to a person or authority to purchase an object or service. The greater the value associated to the product, the greater the price.

Price is the assignment of value of a product or service. Not only paid with currency, but in multiple manners these could consist of digital money such as the “bitcoin”. The bit coin has merged in to financial market and many firms are starting to use this type of virtual currency. These currencies cannot be controlled by one party (government) that is why it has been such a controversial issue.

More broadly, price is the sum of all the values that consumers exchange for benefits of having or using the product or services that are being offered in the market.

Kotler, P. And Armstrong (2006) define price is the cost of product and service that the customer can accept and can pay. Their decision making is based upon several factors, including their budget, their desire for the product and their perception of the brand, the quality of products and additional services on offer. A prime consideration is that the vacation will leave them with ‘memories to treasure’.

Pricing is company selling a product or service. The product price can set to a highest profit for every single product sold in the market or from the market. The price can be control by the organization to benefit their consumer needs and wants depending consumer behavior and the market. (THEECONIMICTIMES, 2013)

They operate to seek a maximum return on the investment and costs they have input. The diagram below shows how firms

5. Price: The quantity of payment or compensation given by one party to another in return for goods or services.

Price, which is one of the most important elements of the marketing mix, can be difficult to get right. Pricing too high, or low, can negatively impact on customer satisfaction and revenue. Adopting a pricing strategy is necessary to achieve desired sales objectives (Chan & Wong 2005).