price sensitivity factors
DESCRIPTION
Various factors that impact Pricing of productsTRANSCRIPT
Product Positioning & Pricing
Positioning Strategy
Product Positioning
Positioning Erro
r
Price SensitivityCo
ncer
ns In
Pos
ition
ing
Price Sensitivity: Factors And Scope
Price Sensitivity: Factors And Scope
Very Critical Aspect
Helps In Protecting Profitability &
To Become A Better Sales Person
The Customer Experience:Customer Satisfaction, Brand Loyalty And Customer Retention Inversely Related To Price-sensitivity
Customer Involvement:Active Customers: Less-price Sensitive
Niceties Versus Necessities
Uniqueness Of The Product:
Buyers Less-sensitive To Unique ProductsTough To Justify It For Common Products
Substitutes And Competitors:
The Lesser The No. Of Competitors and Substitutes, The Lesser The Impact Of Price-Sensitivity
Brand Image:
Consumers Switch Between Suppliers Of Gas On The Basis Of Price;
More Likely To Stay With A Fashion Label Despite Price Increases.
So, The Higher The Brand Image, The Lesser The Impact Of Price-sensitivity
Potential Customer’s Spending Power:
Summary:
Bibliography:Books:Marketing management: Arun Kumar and N. Meenakshi, 1st Edition
Marketing management: Philip Kotler, 13th Edition
Website:http://www.tomreillytraining.com/Ezine%207-15-08%20FiveFactorsAffectPriceSens.htm
http://www.mbanotesworld.in/2009/09/factors-affecting-price-sensitivity.html
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