EOC - Marketing Mix : Price

“Many marketing decisions boil down to numbers. An important question is this: What is the market sales potential in a given segment? If the sales potential in a market is not large enough to warrant pursing that market, then companies will not offer products and services to that market, even though a need may exist.” (Marketing an Introduction, Armstrong/Kolter, 97) As I said before I want the business to be profitable but I personally don’t want to make a huge booming business that grows and expands nationwide. I am the type of person that would be okay with a successful family owned business with one to five locations owned and run locally with a few employees at most. In this mindset I also want to save the customers as much money as possible for their business because outside of being able to afford expenses the money isn’t the important part to me and I am not the only one to have a change in mindset. “Recent economic events have caused a fundamental shift in consumer attitudes toward price and quality. In response, many companies have changed their pricing approaches to bring them into line with changing economic conditions and consumer price perceptions. More and more, marketers have adopted good-value pricing strategies—offering just the right combination of quality and good service at a fair price.” (Marketing an Introduction, Armstrong/Kolter, 277). Initial specific pricing for the company is attached in the creative content that I made a sample menu to go on the side of the ordering window of the food truck itself.