One of the biggest challenges for a company is properly pricing their product or service.The objective is to set a price to make the most profit while attracting the most customers, a tricky economics equation since high prices mean less customers, while lower prices means less profits.

1. Pick one pricing strategy you would use for a business of your choice to help improve their profits and customer sales. Explain why you would make this selection and how it would benefit the company.Use a company of your choice to answer this question.
2. In marketing, explain how price positioning and branding can influence how customers view the value add of a company or product. Use examples in the market to show your understanding of this concept.
3. Select one pricing option that could have a negative connotation and ultimately result in a customer's perception that the company is trying to trick or cheat the customer. Use an example to support your ideas.