Thursday, December 12, 2013

Marketing Mayhem What Is The Right Price?

We are all familiar with the television game show called the Price Is Right where the contestants were rewarded when they guessed or knew the correct price of a given item or even a group of items. Know the price and win the item.

During the holiday shopping season it is the goal of every shopper to find the “Right Price”. That is the price where you pay the lowest possible price for the item you want.  While many folks think that the best price is always found online, nothing could be further from the truth.

Keep in mind that many brick and mortar stores offer a policy to match or beat the price of any item that is found online.  Then the only trade-off is the comparison between sales taxes and shipping cost.

As we are buying or at least trying to find that very special gift at the best possible price we send time online and even making our fingers do the shopping by calling local stores to find out the price and in-stock status of your special item.  You do shop local stores as well?

Perhaps the most amazing thing you will find about the items you are shopping for is the wide variety of prices you find for the very same item.  The surprise is from the dame manufacturer and the same item number can vary by more than 100%.  A real case of buyer beware if the price is your bottom line in making the purchase.

I can give you a perfect example while shopping for a Christmas gift for a Keurig accessory.  I wanted a storage solution that held the K-cups and was also a place for the brewer to sit.  There are a wide variety of those to choose from.  Many different materials (wood, plastic or metal), storage capacities, style and what appears to be vastly different quality levels.

After much searching both online and at local stores I found a model from a line of products called Mind Reader. The real shock was the wide span of prices.  The very same item and model number was listed from $19.99 to $55.00.

The lowest price was at a local store and the very highest price was online. If you compare large heavy items (think furniture and large appliances) the online stores are at real disadvantage.  They end up paying more for shipping a single item than the stores who get their items in bulk on a common freight carrier (semi-loads).

If you are shopping for a flat screen television this season you will find the very best prices at your local stores.  The big box stores are using the price as the reason to buy or upgrade to the latest size and technology. In this case size truly matters.  They range from a couple of hundred dollars for a smaller one to many thousands of dollars for eighty incher.

Do you need help with your next print advertisement?  Call MI Printing 623.582.1302 and lets us be your local resource.  Effective communication is what your business needs.

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MI Printing
Phone: 623.582.1302