Social media make it harder for brands to pull the wool over consumers' eyes, but they also offer canny companies a powerful new channel through which to promote their wares and test new products and pricing strategies.

ECONOMIST: Consumer psychology

Device-makers are having a terrible time getting new products that might give them pricing power approved by the FDA. Health reform adds a new 2.3% excise tax on many of the companies (though not lab equipment).

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Click here for tips on pricing new products.

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PepsiCo is also focused on diversifying its pricing mix in developed economies with new products being launched in both the premium and low-priced segment.

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The company has introduced several new products with the Marlboro brand, often with lower promotional pricing.

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Right now, generic companies are competing primarily on cost, yet one can imagine that by bundling the appropriate companion technologies to their products (e.g. technologies that improve and document adherence), they might conceivably be in a position to make more aggressive efficacy claims, to demonstrate to stakeholders that they are delivering greater value, and ultimately command somewhat higher pricing, yet still below the cost of new, branded products.

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In terms of pricing of (inaudible) Curve sometimes they do special promos for new products, sometime they are slightly lower cost structure for us to make them.

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Looking beyond logical changes to performance on products and services in terms of innovation, style and pricing, this new crisis-induced variable is key to our business and redefines the breakdown of the marketing mix.

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