pricing strategies
what is a discount
A price reduction to make something cheaper
what is impulse buying
making a purchase without planning it to buy
why do products get more expenisve
inflation, limited ressources, competition, development
what is a sales price
A lower price of a product in a limited time
why do people compare prices before buying
to find the best deal
how do social trends affect prices
higher labor costs, popularity,
what is psychological pricing
when a product costs 9,99€ it seems cheaper than 10€
why are known brands more expensive than non brand products
quality, popularity, more advertised,
how does seasonality affect pricing with example
prices change through out the year and what is in the trend (for example T-shirts are cheaper in winter)
what factors depend on the price of the product
productions costs, developing costs, the price of the competetive products
what is consumer behavior and why is it important to marketing
the study of how people buy and use products
how does technology affect pricing
old technology gets cheaper and the new takes its place
what is price skimming
losing demand on the product after a certain time
How do psychological factors influence consumer decision-making?
personality, motivation, attitudes, perception
How do government regulations affect prices
safety regulations, health regulations, taxes, sanctions