Final Project: Price

"Setting the right price is one of the marketer’s most difficult tasks. A host of factors come into play. But finding and implementing the right price strategy is critical to success." (Marketing An Introduction, Armstrong/Kotler, Ch. 09, pg. 275) Cocoa Cough will retail for only $12.99. This makes it roughly the same cost as the highest selling brands, such as Delsym Cough Syrup, and approximately $5.00 more than the cheapest selling brands. This makes it competitive with everyday brands on the market without alienating itself do to over cost. Setting the price too high will make the consumer stop and question the difference between your product and the next one that is ten dollars cheaper. Our price is worth every moment the consumer enjoys the delicious and rich taste of chocolate and the enjoyment that the customer will receive. "Customer value-based pricing uses buyers’ perceptions of value, not the seller’s cost, as the key to pricing. Value-based pricing means that the marketer cannot design a product and marketing program and then set the price. Price is considered along with the other marketing mix variables before the marketing program is set."  (Marketing An Introduction, Armstrong/Kotler, Ch. 09, pg. 276)