Explain the significance of understanding what customers value when making pricing decisions.

Pricing the Line-Up

Identify a company that produces a product mix comprised of at least three different brands or models. A common example might be Apple cellphone line-up (comprised of the iPhone XS, iPhoneXR, iPhoneX, iPhone 8, and so on).

Research the company’s product mix price points and discuss the pricing strategy. How does the pricing compare to the competition? Explain the significance of understanding what customers value when making pricing decisions.