Wednesday, September 2, 2015

Price

The book states that, "Price is the amount of money customers must pay to obtain the product." Armstrong & Kotler (2011). Marketing: An Introduction, 10th Ed. Prentice Hall Publishing. Pg 54. Price is a self-explanatory word. But it is something important to a business. A business must carefully think about price. While the main goal of a business should not making money, it is necessary to continue the business. "Thus, whereas marketers see themselves as selling products, customers see themselves as buying value or solutions to their problems. And customers are interested in more than just the price; they are interested in the total costs of obtaining, using, and disposing of a product. Customers want the product and service to be as conveniently available as possible." Armstrong & Kotler (2011). Marketing: An Introduction, 10th Ed. Prentice Hall Publishing. Pg 55. When a customer considers a price they don't simply think of the numbers behind the materials that went into the product, it's about the overall experience. The customer service, the atmosphere, what it all gives to the customers.
Below is an example of what my food truck's menu could look like as well as a rough estimate of what the pricing could be.



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