provide 2 examples of how price strategy could be used to increase purchasing, but also to signal a brand position

Premium Pricing: This is a strategy where businesses price their products higher than their competitors to create a perception of a high-quality, luxury brand. For example, Apple uses premium pricing for its products. The high price signals to consumers that Apple products are superior in quality and design, and this helps to position Apple as a high-end, luxury brand. The high price might also increase purchasing because consumers often associate a high price with high quality, and are willing to pay more for products that they perceive to be of high quality.

Penetration Pricing: This is a strategy where businesses price their products lower than their competitors to attract more customers and gain a larger market share. For example, a new brand entering a competitive market might use penetration pricing to attract customers from established brands. The low price signals to consumers that the brand offers good value for money, and this helps to position the brand as a cost-effective choice. The low price might also increase purchasing because consumers are always looking for good deals and are likely to switch to brands that offer the same quality products at lower prices.