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Essay / Case Study: Functionality and Pricing - 1214
The process involves adding value to products to allow a business to charge different prices for a product category. Furthermore, as Régie du Montréal métropolitain (2009) explains, consumers do not only buy a product, but rather the benefits they obtain from it. A company that markets the perceived benefits of a product is therefore more likely to succeed than a company that markets a product based on the cost of production. For example, Mercedes-Benz and Rolex watches are purchased because of the perceived benefits marketed to the consumer (Callander,