Comment on the pricing philosophy, “Sometimes price should be wrong by design.”

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Prices should be wrong by design, and this acts as a marketing strategy serving varied purposes for the company. Increasing the price of a community beyond its required market value may decrease the sales of a commodity but also attracts customers who desire luxury goods.

This is because these customers associate high prices with luxury and good-quality goods. Lowering the price of a commodity on purpose within a range that ensures the company does not make losses causes panic buying. Customers assume they are stealing from the company while the company benefits from economies of large scale.

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Luxury Products and Normal Goods

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Academic.Tips. (2023) 'Comment on the pricing philosophy, “Sometimes price should be wrong by design.”'. 12 March.

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Academic.Tips. (2023, March 12). Comment on the pricing philosophy, “Sometimes price should be wrong by design.”. https://academic.tips/question/comment-on-the-pricing-philosophy-sometimes-price-should-be-wrong-by-design/

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Academic.Tips. 2023. "Comment on the pricing philosophy, “Sometimes price should be wrong by design.”." March 12, 2023. https://academic.tips/question/comment-on-the-pricing-philosophy-sometimes-price-should-be-wrong-by-design/.

1. Academic.Tips. "Comment on the pricing philosophy, “Sometimes price should be wrong by design.”." March 12, 2023. https://academic.tips/question/comment-on-the-pricing-philosophy-sometimes-price-should-be-wrong-by-design/.

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Academic.Tips. "Comment on the pricing philosophy, “Sometimes price should be wrong by design.”." March 12, 2023. https://academic.tips/question/comment-on-the-pricing-philosophy-sometimes-price-should-be-wrong-by-design/.

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"Comment on the pricing philosophy, “Sometimes price should be wrong by design.”." Academic.Tips, 12 Mar. 2023, academic.tips/question/comment-on-the-pricing-philosophy-sometimes-price-should-be-wrong-by-design/.

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