Marketing Mix, Price

"The customer relationship management (CRM) process enables companies to prioritize their marketing focus on different customer groups according to each group's long-term value to the company or supply chain" (Chapter 13 pg 228). Using such research, the price of Chocomug will be $11.99 individually so it's affordable but people also know its not some cheap chocolate, there is some quality to it. Also, since it is affordable and it is a good treat for most people, it is going to sell at a very efficient rate, primarily during the holidays when the most focus is on Chocomug. The reason it isn't priced higher is because I want everyone to be able to afford and enjoy my product, and I know the rate it will sell at will earn me a very reasonable profit. It's a treat that will be enjoyed by every age, ethnic, and sex group, so pricing it perfectly for everyone to afford it is very important for me. "Price is the fourth way to position retail stores. Traditional department stores and specialty stores typically charge the full “suggested retail price”" (Chapter 15 pg 261).