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The price of a product or service influences how consumers (i.e., potential customers) perceive it. Consumers frequently perceive higher-priced items to be higher in quality, though that's clearly not always true.

"Luxury" items tend to have a higher price-point. "Economy" items, on the other hand, are typically lower-priced items.

From a marketing perspective, pricing is a key component of brand positioning. How do you want your brand to be positioned in the marketplace versus competing products/brands?

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17y ago

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