In repsonse to Chris French

Competitor prices are important to look for when pricing a product. If you can set a price that's lower than a competitor and still make good profit, then you should do so. With some companies, products are usually set at a low price when first released and an extra promotion product is available with it. When that occurs more consumers go for that product so that their competitor loses sales and the other company gets the higher majority of the market for that product. When promotion is over the price goes back up after the competitor is beat. Pricing is a strategy for companies so that they can make profit as well as hurt the other competitor by gaining their products do to better pricing and quality. If you had to identical products in front of you, would you rather by the lower cost product if it came with an extra accessory?

Brandind and Today's Economy

Do you think our consumers today are choosing generic brands more instead of name brand products? Generic brands are usually cheaper products than name brands, but how different are they from name brands? Consumers today prefer to buy name brands just for the logo, for example, clothing. Consumers prefer to rep their brand of clothing rather than just wearing clothing with no label on it. But is the quality really different? Reviewing labels and food products compared to generic and name brand foods, the back ingredients along with nutrition facts are exactly the same. The only difference between the two products are that the generic brands are cheaper. In my opinion buying generic brands is an efficient way of saving money going through the economic slump that we are in today. There is no difference but just labels. Do you believe that consumers today are choosing more generic brands rather than name brands?