The price is, umm, not right

Charles Dawson

Pricing is not a rational science, since it mainly depends on consumer attitudes. Nobody knows what a new technology product is worth until the consumer responds, as illustrated by the Apple iPhone.

The price is, umm, not right

Charles Dawson

Tricky area, pricing. What to do? Let jittery consumer confidence and your competitors scare you into setting a rock-bottom price? Grimly stick to the mid-range, trusting in your brand name, reputation and product quality? Or boldly go where no price has gone before? Place your bets. You'd better get it right, and not just because it impacts your bottom line. Almost as importantly, price affects what consumers think of your company, your brand and your products. Pricing can build up or tear down a whole edifice of 'market desirability'.

The art of...

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