Question.3034 - Discussion Question As you realize by now, marketing facilitates the exchange of something of value for money, which is quoted in the form of a specific price. But as you have certainly experienced as a consumer, you can often find the same item for different prices in the market. Please discuss some of the factors in their marketing strategy that might lead retailers to set different prices for the same item. Note: Two contributions are required for full credit. First, you may participate once by stating a fact, example or opinion on the topic, or by contrasting that to other facts brought up by other students. Be sure to follow discussion threads carefully (Start a new discussion thread for a new fact that is unrelated to topics mentioned by other students. If your fact is related to a topic raised by another student, respond to that student to continue this discussion). Remember to write complete sentences with correct grammar, and to be courteous. I will rate your contribution on a scale of 0-2 points. A contribution such as "my country X is like that too" is unsatisfactory and will not count. Second, please respond to another student's contribution (rated 0-1). The total number of points that can be earned in the discussion is 3 points (3% of your final grade). Word Limit: 300 words Peer Comments It is important to first define the marketing mix and the target market to develp a marketing strategy. Retailers all over the world are trying to be competitive, but still successful in their business. With that they have to do what is best for them and in the location that they are in. Many times that either means lowering or making the prices of goods higher. As a consumer, I know that there are differing prices all over the place. One store may have a shirt for $5.00 and the store right next to it might have a similar shirt for $10.00. In a lot of cases it depends on preference. If you like one store better than another, you tend to buy from that one place. On the other hand, if you can't stand the inside or look of the cheaper store, you'll go other places to buy it even though it may be a little more expensive. The location of the store may also be a contibuting factor as well as convenience of getting the product to the consumer. Retailers have to do what is best for the company in the area they are in. The demand for products leads consumers to go to those specific places. The retailer has to appeal to their target market. They set the best price for the people that they think will shop in their store and what they are projected to buy and in what amount.Comment on the above in 50 words.
Answer Below:
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