"A company can always increase customer satisfaction by lowering its price or increasing its services. But this may result in lower profits. Thus, the purpose of marketing is to generate customer value profitably. This requires a very delicate balance: The marketer must continue to generate more customer value and satisfaction but not "give away the house."" (Pg. 17)
As far as the price goes for my restaurant, I'm not wanting to burn a hole through everyone's wallet, but I don't want my prices to be so low that it gives off the vibe that my food and photography isn't worth more.
I got most of my inspiration from a health food restaurant I go to all the time called "Greens & Proteins" so I want to base most of my prices around theirs.
For soups, appetisers or main entree salads - ($7-8.50)
Main dishes(pasta, sandwiches, or sides) (fish, chicken, steak, vegetarian) - ($10-16.50)
Fresh juices, soft drinks, coffee, desserts (gluten-free) - ($2.50-6)
For my photography, the prices for all the different sizes are in my "Product" blog.
"The company can offer greater customer value either by charging lower prices than competitors, or by offering more benefits to justiy higher prices."
"But if the company promises greater value, it must then deliver that greater value."
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