Marketing Mix: Price

Price is an extremely tricky thing, as the book states,  "A high-quality product that is available only at a high price will not be perceived as a good value, nor will bare-bones service or low-quality goods selling for a low price."(MKTG 9th Edition, Pg 6)  This is very true. people will not buy a product, no matter how good it is, for a ridiculously high  price, nor will they buy an extremely cheap product. So you have to meet your customers somewhere in the middle, where you make profits, and they get a good deal. With my product I believe that that is in the $2.99 price range for a pack of 6. I believe this is a fair price for the value you are getting, while not being absolutely ridiculous.