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Prices are the key to income, which in turn are key to profits for an organization. To earn a profit, Triple Platinum must choose a price that is not too high or to low, a price that equals the perceived value to target consumers. In setting our price, we attempted to find a level high enough to produce a satisfactory profit. This is how we came up with the idea of selling different models, with …

…fast service. If our product breaks for any reason we will temporarily replace the product with the next higher model until their unit is fixed by us. By doing this we can generate more sales on higher, more expensive models. As a new business, Triple Platinum must first establish a market for our product and a customer for out product. We need to start at a slow pace, establish ourselves and eventually expand from there.