Price is an important part of the marketing mix. A good product can lose valuable customers if they have any reason to consider its price stiff and unjustified.
This is perhaps what tech giant, Sony was trying to explain when it slashed the price of its PS4 video game console from $400 to $350 dollars in the US to match the price of its competitor, Microsoft’s X-box One.
In a blog post on Play Station’s official blog, the Vice President of Platform Marketing at Sony Computer Entertainment America, John Koller said: “Our goal at PlayStation has always been to provide the best gameplay experiences at the best value, and we feel this new compelling price will open the doors to even more gamers that have yet to purchase a system.”
He also said that the price of the console has been slashed to 430 Canadian dollars in Canada.
This was expected as the price of the console was slashed in Japan back in January, CNET reported.
This new price regime also comes with a copy of either Uncharted: The Nathan Drake Collection or Star Wars Battlefront.
The company announced the slash in price in preparation for the Christmas holiday, a move observers say may not be unconnected with continuing to out-sell rival, X-box One.
The new changes are expected to take effect today.
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