how do consumers process and evaluate prices?
TRANSCRIPT
By,
Anurag Kar
B.Tech. Student
Department of E and ECE
IIT Kharagpur
Based on Chapter 3: Developing Pricing
Strategies and Programs
Of
Marketing Management: A South Asian
Perspective
By Kotler, Keller, Koshy and Jha
Buyers today can:
1. Get instant price comparisons between vendors.
2. Name their price and have it met.
3. Get products for free.
Consumers often can’t accurately
recall specific prices.
While examining products, they
employ reference prices.
They compare an observed price to
an internal reference price or
external references such as
“posted retail price”.
Companies who want to portray an
expensive image on the other hand
should AVOID such pricing because
of the risk of looking cheap.
Pictures Sourced from:
www.flickr.com
www.pinterest.com
http://commons.wikimedia.org
www.theguardian.com
Fonts Sourced from:
www.fontsquirrel.com
Based on “Marketing Management: A South Asian Perspective”
By Kohler, Kelter, Koshy and Jha
Credits