Thursday, September 1, 2016

Price

The price of the product will always and forever remain the same. Obtaining and keeping customer loyalty can easily be achieved by staying true to the value of your product even when it becomes widely known and vastly popular throughout the world. “Price is a component of value (a $4,000 handbag is perceived as being more luxurious and of higher quality than one selling for $100), but low price is not the same as good value. Instead, customers value goods and services that are of the quality they expect and that are sold at prices they are willing to pay. –MKTG Page 7.

Even if the competition falters or completely disappears the price will always remain the same (unless it is sold in bulk or bundle). “Some attributes of an attractive market are high profitability, rapid growth, a lack of government regulation, consumer insensitivity to a price increase, a lack of competition, and availability of technology. –MKTG Page 19.


The goal of “Dirt with Worms” is to keep and hold onto customer loyalty so that the product will always remain “future proof” and move with ease along each generation that is to come. “An organization must understand what drives that loyalty and then take steps to ensure that those drivers are maintained and enhanced. –MKTG Page 50.

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