Marketing Mix: Price

Our product will be priced at 6.99$ USD. Our price is above the competing cookie dough’s it will be sitting next to, but it is low enough for what we are offering. It is not just cookie dough; it is a toy, an activity, and an experience."All pricing objectives have trade-offs that managers must weigh." (Lamb, Charles W. MKTG 9, 9th Edition. Pg 376) Companies such as Pillsbury and Toll House are offering price ranges from 2.50$-5.00$. Our price is higher than that, but we believe it is justified.  Our product offers 4 different colors, and the opportunity to make different creations besides regular round cookies. We believe our pricing is reasonable and can easily compete with competitors. We want a price that will satisfy the people. Especially for a new product like ours. “To survive in today's highly competitive marketplace, companies need pricing objectives that are specific, attainable, and measurable. Realistic pricing goals then require periodic monitoring to determine the effectiveness of the company's strategy.” (Lamb, Charles W. MKTG 9, 9th Edition. Pg 359). We believe our pricing is realistic. We are not the cheapest dough but we are the only one of its kind.