Marketing - What is Price?

The video discusses the role of price in the marketing mix, emphasizing that price should reflect the perceived value to the consumer. It introduces two key rules: price equals value, meaning consumers must see the price as matching the product's value, and the price-quality heuristic, where price influences perceived quality. Setting the right price is crucial for balancing consumer perception and profit opportunities.

What new insight or understanding did you gain from this video?

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