Difference between product and brand

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The document discusses assigning prices to different cotton products. It introduces prices P, N and B. Price P is for a basic 100% cotton product. Price N is for a similar product that the person would pay more for. Price B is introduced as well for another product. The key difference explained is that prices are determined by people's belief systems and what they assign in value to basic products versus branded products, even if the materials are the same.

Marketing

How much would you pay for this?
100 % cotton

How much would you pay for this?
100 % cotton
Have you got a price in
mind?

How much would you pay for this?
100 % cotton
Have you got a price in
mind?
OK, let’s called it price
“P”

How much more would you pay for these?
100% cotton

How much more would you pay for these?
Have you got a price in
mind?
100% cotton

How much more would you pay for these?
Have you got a price in
mind?
100% cotton
OK, let’s called it price
“N”

How much more would you pay for these?
Have you got a price in
mind?
100% cotton 100% cotton
OK, let’s called it price
“N”

How much more would you pay for these?
Have you got a price in
mind?
100% cotton 100% cotton
OK, let’s called it price
“N”
Have you got a price in
mind?

How much more would you pay for these?
Have you got a price in
mind?
100% cotton 100% cotton
OK, let’s called it price
“N”
Have you got a price in
mind?
OK, let’s called it price
“B”

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Difference between product and brand

1. How much would you pay for this?

2. How much would you pay for this? 100 % cotton

3. How much would you pay for this? 100 % cotton Have you got a price in mind?

4. How much would you pay for this? 100 % cotton Have you got a price in mind? OK, let’s called it price “P”

5. How much more would you pay for these?

6. How much more would you pay for these? 100% cotton

7. How much more would you pay for these? Have you got a price in mind? 100% cotton

8. How much more would you pay for these? Have you got a price in mind? 100% cotton OK, let’s called it price “N”

9. How much more would you pay for these? Have you got a price in mind? 100% cotton 100% cotton OK, let’s called it price “N”

10. How much more would you pay for these? Have you got a price in mind? 100% cotton 100% cotton OK, let’s called it price “N” Have you got a price in mind?

11. How much more would you pay for these? Have you got a price in mind? 100% cotton 100% cotton OK, let’s called it price “N” Have you got a price in mind? OK, let’s called it price “B”

12. The difference between product and brand…

13. The difference between product and brand… Is the belief system in your mind that makes you assign different prices for…

14. The difference between product and brand… Is the belief system in your mind that makes you assign different prices for… “P” 100% cotton

15. The difference between product and brand… Is the belief system in your mind that makes you assign different prices for… “P” 100% cotton “N” 100% cotton

16. The difference between product and brand… Is the belief system in your mind that makes you assign different prices for… “P” 100% cotton “N” 100% cotton “B” 100% cotton

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