NAME: IAN CHRIS M.

SALAZAR DATE: AUGUST 10, 2022

YEAR AND SECTION: BAMM 4C

REFLECTION FOR GROUP 1 REPORTING

In this discussion of group one, I discovered that there might be lower limitations as

well, below which goods look inexpensive. This may result in more sales, but it may also have

the unintended consequence of making consumers less likely to make purchases since they may

associate "cheap" with inferior quality. I've discovered that price is crucial since it establishes

the value of your product for both you and your clients. Consumers should also consider if the

price is worth their time and effort before paying or making a purchase for this reason.

Additionally, I learned from this conversation that a variety of factors may affect how much

something costs. Additionally, I discovered that price is both an art and a science, with the

science being measured and the art being qualified. Selecting a price strategy and revenue

model is the art. Based on pricing factors, science establishes and evaluates ideal price levels. In

addition, since our group will be the next to report on what we will talk about next, I felt more

enthusiastic about what we will learn in the next discussion as a result of what we learned here.