Priced to Sell. Should your product’s price point be its major selling point, too?

Whether your product occupies the lowest-priced rack or the highest-priced stratosphere, the number on the tag says a lot about your brand. It can even be part of your branding–your company sells the cheapest wine or the most expensive shoes, for example–and you market yourself based on that fact. But how do you go about marketing your company as, say, the $10 superstar?

First, choose your price structure with as much care as you write a business plan, says Robert Manasier, brand director for In Focus Brands, a branded business development company in Stony Point, New York. "You can use [price] to enhance or create the brand," he says. Still, make sure you take production costs into account to ensure profitability.

Entrepreneur magazine
By Nichole L. Torres

Full Story: http://www.entrepreneur.com/article/0,4621,326057,00.html