Taco Bell uses price as a weapon to compete. What is their method and how does target marketing contribute to their strategy of what to charge?
Taco Bell uses the customer value-based pricing strategy in order to sell a lot of items for a low price. Since customers see this low price, they are more prone to buying items from Taco Bell, as they feel they are getting a good deal on the meal. Taco Bell understands that it is competing for customers in a market that is looking for good value when it comes to price. They try to cater to this by offering their products at values which will match customers' perceived value.
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Principles of Marketing
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