Unit VI Research Project BBA 3201.docx BBA 3201 IKEA s Price and Promotion Strate

Unit  VI  Research  Project  BBA  3201.docx   BBA 3201  IKEA ™s Price and Promotion Strategies  Columbia Southern University BBA 3201 Principles of Marketing   IKEA ™s Price and Promotion Strategies  Price is the set amount that is charged for a product or service that holds value to a consumer and is an extremely important tool when it comes to marketing as it has a direct impact on revenues and profits (Wyner, 2014). In some instances, the price for a product or service can even be the determining factor in whether or a not a consumer will purchase it. For example, if the customer sees a product that has a high price tag but feel that the quality of the product doesn ™t justify what it costs, they are less likely to purchase it. Whereas if the same product had a lower, more reasonable, price tag, but still held the same quality as it did with the higher price  tag, a consumer may still decide to purchase it, simply because it ™s