Price

“The marketing mix is the set of controllable, tactical marketing tools that the firm blends to produce the response it wants in the target market. The marketing mix consists of everything the firm can do to influence the demand for its product. The many possibilities can be collected into four groups of variables known as “the four Ps”: product, price, place, and promotion.”

“Price is the sum of all the values that customers give up in order to gain the benefits of having or using a product or service. Historically, price has been the major factor affecting buyer choice.”

“The company can offer greater customer value either by charging lower prices than competitors, or by offering more benefits to justify higher prices. But if the company promises greater value, it must then deliver that greater value.”

“Pricing: No matter what the state of the economy, companies should sell value, not price.”

“Smart managers treat pricing as a key strategic tool for creating and capturing customer value. Prices have a direct impact on a firm’s bottom line.”

“More importantly, as a part of a company’s overall value proposition, price plays a key role in creating customer value and building customer relationships.”  

(Armstrong & Kotler (2011). Marketing: An Introduction, 10th Ed. Prentice Hall Publishing)     

Hookah Tobacco: $8 regular; $10 special mixes

Smoke-in hookah price: $15; $4.50 refill; $20 per person all you can smoke

Specialty drinks: minimum $8

Beers: $4-$5

Appetizers: $4-$6

Sandwiches: $7

Plates: $12