HOW PRICE PLAY A IMPORTANT ROLE IN MARKETING ?

AS IN MY PREVIOUS BLOG I HAD SAID THAT MARKETING MEANS CREATING A CUSTOMER .

NOW HOW THE PRICE PLAYS A IMPORTANT ROLE IN MARKETING IT IS A QUESTION THAT I HAD OFTEN HEARD :

MARKETING DEPENDS ON THE PRICING OF THE PRODUCT WITHOUT PRICEING THERE IS NO MEANING OF HAVING A MARKET OF A PRODUCT .

AS WE HAVE STUDIED IN ECONOMICS THAT  THESE TWO THING SUPPLY AND DEMAND ALSO DEPENDS ON  PRICE ,,,AS STATED  THAT  WHEN THERE IS A LOW IN THE PRICE OF A BRAND PRODUCT LIKE FOR EXAMPLE TEA BRAND TATA  THEN  THERE WOULD BE INCREASE IN DEMEND AND SUPPLY OF THE TEA BRAND PRODUCT LIKE TATA  RATHER THEN THE OTHER BRANDS  OF TEA ..

THERE ARE THREE TYPE OF CONSUMERS ACCORDING TO ME 

1. CONSUMERS OF LOWER LIVING STANDARD OR LOWER INCOME GRAND LIKE WORKERS ,LABOUR 

2. CONSUMERS OF MIDDLE  LIVEING STANDARDS LIKE EMPLOYEES  .

3. CONSUMERS OF HIGHER LIVING STANDARDS  LIKE OWNERS OF BIG FIRM ,BUSINESSMAN ..

NOW THE THIRD CATEGORY OF PERSONS ARE  THE BUSINESSMAN OR THE OWNERS OF THE LARGE FIRM THEY PREFER TO BUY LUXURY PRODUCTS AND PRICE IS NOT AN ISSUE FOR THEM ..THEY ONLY LOOK FOR BRAND . FOR  EXAMPLE  THEY WOULD PREFER TO BUY BMW ,AUDI ...COMPANY CARS .,,

THE SECOND CATEGORY OF PERSON ARE SAVING ACCOUNT HOLDER OF THE BANK THEY GET A FIXED AMOUNT OF SALARY IN THERE ACCOUNT SO THEY  PREFER TO BUY BY KEEPING THE  PRICE IN MIND ...AND DO THE MARKETING OF PRODUCT LIKE  MARUTI CARS ,MAHINDRA ,  ETC ,.OF INDIA.

THE FIRST CATEGORY OF PERSON HAVE LOW SALARY AND SOME ARE PAID OF THE DAILY BASIS SO THEY PREFER TO BUY  BIKES OF HERO HONDA , BAJAJ  RATHER THEN BUYING CARS THEY MAY NOT AFFORD IT ,,,

BY THESE CATEGORY  OF CONSUMERS PRICE  PLAYS A VERY  GREAT ROLE IN MARKETING OF THE PRODUCTS ,,,