In this module, you reviewed many of the different factors that influence the pricing process. One aspect of the pricing process is the brand image and the brand equity related to the product (discussed in previous modules). Explain how these two items may influence the price you can establish for your product as it relates to your Team Project Product. Support your answer with additional outside materials (apart from the text).
What do you think your brand image is in terms of quality and value to your consumer? Are you high-end, low-end or in-between? Explain as it relates to your major competitor.
Given the image you want to project and where you are in the Product Life Cycle (studied in previous modules), what type of pricing scheme do you think you should use (e.g., prestige pricing, penetration pricing, skimming pricing, bundle pricing, odd-even, value, etc.)? Why will this scheme work best for your target market?
What do you think your final price might be for this product? Provide a realistic range and discuss why.
Cite and list sources to support your comments using APA format.
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