Well it was required to comment on an external marketing blog. So I went on google and typed “marketing blog”, there I clicked on the 4th link which lead me to : Seth’s Blog.
I would like to comment on his post about: “Compared to perfect: the price/value mismatch in content“.
In his post, he mentioned that price and reviews of a product show ZERO correlation. So not necessarily expensive pricing leads to great quality. ABSOLUTELY TRUE! As we come across luxurious goods, are they guaranteed 100% quality? Some may have flaws and most people are mainly buying for the brand name. As I mentioned in one of my posts, why do people buy diamonds, an overpriced carbon?
How about the other way around? Does low pricing lead to poor quality? Compared to perfection, of course it won’t be good enough. What if its “free”? As Seth stated, “free is a valid marketing strategy”. We learned in class that free samples, free trials are short term promotional strategies. It allows trialability and response from the consumers. But marketers need to know the bottom line of their pricing strategy. If it’s been cheap or free all along, why would they bother paying high price for that particular product? People nowadays are picky and can often find substitutes. With technology advancing so fast, marketers should really seek ways to position their products at the right time to the right consumers at the right place.
