... element of the marketing function. The pricing method chosen must be compatible with the decisions made concerning the product itself, promotion. * What market segment(s) is the product aimed at? Clearly, if mass production aimed at socio-economic groups C and D is the target, a relatively low, competitive price must be chosen. * How much does it cost to produce the product? Although the product may not be priced using a cost plus method there is little point in selling it unless price covers costs and a profit can be made. * What price is being charged by our competitors? * How much does it cost us to produce the product? * What are the expectations and perceptions of consumers? A premium brand such as Nike can charge premium prices because consumers expect prices to be high. * Price, must be considered alongside the other Ps. (i.e. think of the whole marketing mix) * Are there any ...

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