Finding the right price for your product or service often feels more like an art than a science. Today's consumers are more price-sensitive and cost-savvy than ever. Price a product too high and you may limit your market. Price too low and not only will you leave money on the table, you may damage your brand or, even worse, ignite a competitive price war.
"For Saturn and Swatch, the pricing policy flows directly from the overall marketing strategy. This consistency, or even synergy, of price and the rest of the marketing mix is a critical requirement for success" (4).
"Getting the price right is one of the most fundamental and important management functions; it should be one of a manager's first responsibilities, a nuts and bolts kind of job that determines the dollar and cents performance of the company" (46).