you will have to reply to a this discussion based on “value based price”: Value in marketing, or also known as customer-perceived value, is the difference between a prospective customer evaluation of the benefits and costs of one product when compared with others. When it comes to the product, the product’s benefits should be focused on so that the price becomes less and less important to the customer. One fast food entity that uses this concept it McDonalds. They have a value menu for their customers so that they can buy more at a less price range. They use competitive advantage in their own unique way which has led them to be the number one fast food service around the globe. here’s an example of someone replying to a discussion: You give a great example to demonstrate value based pricing. In a saturated sports market, Adidas does exceptionally well by offering several types of products that each have something unique to offer in order to fulfill the needs of any consumer that may walk into an Adidas location. In regards to your comments on the athletes who wear Adidas merchandise; when a fan sees an athlete they admire wearing Adidas merchandise, they instantly associate value with the Adidas brand due to the fact that they see an authoritative figure using the product. With talented professionals using the product, fans will want to use what their favorite athlete is using. Through sponsorships, and exceptional products, Adidas is able to strengthen its brand and offer a variety of products that are each capable of fulfilling a consumer’s unique preferences and needs.
