Course Hero Logo

Module 5 Discussion - In this module, you reviewed many of...

Course Hero uses AI to attempt to automatically extract content from documents to surface to you and others so you can study better, e.g., in search results, to enrich docs, and more. This preview shows page 1 out of 1 page.

In this module, you reviewed many of the different factors that influence the price acompany must establish. One aspect of the price that can be established is the brand imageand the brand equity related to the product (discussed in previous modules). Explain howthese two items may influence the price you can establish for a product. Support youranswer with additional outside materials.Of marketing’s four P’s, price is the only one that does not constitute a cost. The price iswhat generates revenue and supports the remaining three P’s (Uhlig, 2017). Of the many factorsthat impact the pricing of a product or service, brand image and brand equity may be two of themost influential. Both of these factors play critical roles for organizations to understand thecustomer-perceived value for a product. The text states, “The purpose of price is to recovercustomer-perceived value for your product or service, not to recover costs,” (Winer & Dhar,
End of preview. Want to read the entire page?

Upload your study docs or become a

Course Hero member to access this document

Term
Summer
Professor
N/A
Tags
Marketing, Brand, brand image

Newly uploaded documents

Show More

Newly uploaded documents

Show More

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture