Using examples explore the concepts of price and value from a customer’s point of view and contrast them with a company’s view of price and cost.

| May 20, 2014

Using examples explore the concepts of price and value from a customer’s point of view and contrast them with a company’s view of price and cost.

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Firstly, define the term “brand”, secondly, describe what is involved in “branding” and thirdly, give an example of how consumers are using brands today that is different from the past.
Some experts suggest that people spend 30% more on average in supermarkets than they initially plan to. Using a recent trip to the supermarket as an example, show how atmospherics and the experience provided enticed you to spend more. Explore your behaviour further by linking your answer to at least one of the following concepts: self concept, decision making model, culture, reference groups and motivation.

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