Problem:
The AI Brainstorming Conference topic for this week is pricing strategy (another element in the Marketing Mix). How do you set a price for your product or service? In five to six paragraphs:
1. Based on the strategies of the other three marketing mix elements, explain what pricing objectives you would consider.
2. Identify the pricing objective you ultimately will choose and explain why.
3. Give advice to at least two other participants with regard to their pricing decisions. Do they make sense? Would you make a different decision? Why or why not?