Wednesday, November 30, 2011

Final Project : Marketing Mix - Price

After long considerable debate, Gem has "...decide[d] how much it will charge for the offering" [Marketing an Introduction by Armstrong Ch.1 ;Pg.17]. Keeping in mind that you will get what you pay for, and that if such a product as Gem was meant for just anybody, then its value and worth would not be so high. Having something from Gem means you are able to have and live with the finer things in life because it is worthy enough for someone like you. While some brands are thought of as high-quality, Gem stands for a more sophisticated class.
"When customers buy a product, they exchange something of value in order to get something of value (the benefits of having or using the product)." [Marketing an Introduction by Armstrong Ch.9; Pg6] It would be almost as an insult, if Gem were offered to those who wouldn't know how to shine their brilliance, or that they don't even have any. We do not take value lightly, so we will not treat it lightly. Gem is a treasure to behold, but only for meant for those who are treasures themselves, and is something that only the rare few may possess (as is always the case when precious rarity is present). Otherwise, it would not be a Gem, or rather a simple and ordinary stone.
"A firm can set prices to attract new customers or to profitably retain existing ones." [Marketing an Introduction by Armstrong Ch.9 ;Pg18] What we are offering, an experience for the people who live for the finer things in life, medium Gem bottles are set at $99. The sizes, packaging, and quantity vary and so do the prices. You can simply get one, many, or mix in sets and wrap them in our themed treasure and/or jewelry box packaging. Keep in mind that Gem is made for the few and rare - as is the product.

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