QUESTION 4 [20 MARKS]

Any given price a company charges "will fall somewhere between one that is too low to produce a

profit and one that is too high to produce any demand" (Kotler & Armstrong, 2014).

With your knowledge of the factors that influence your customers' buying behaviour, and the costs of

producing your company's product, you must set a suitable price for the product.

Select a pricing strategy that is most applicable to your organisation and examine five ways in which

this strategy can be used to the benefit of the company's marketing plan and to securing competitive

advantage.