posted by Kamilah on .
what are the pricing issues in the product category?
for the brand Nike's
1.Is the market for the brand Nike elastic or inelastic? are there acceptable substitutes?
2. Is the brand a premium product?
3. What is the reference price range for the brand?
4. How is the brand priced versus its major competitor?
5.What psychological pricing factors affect the brand
6.What promotional pricing has been used for the brand?
Are you supposed to answer each of these questions? If so, you will need to do some market research. You have already listed the main issues. Nike is a premium product, because of its expensive endorsement by prominent athletes and its "placement" in important sports events. It is considered stylish by many. My experience with their running shoes lately is that quality is now below average.