Pricing Strategies
What is the pricing strategy where the price is set low to get the customers attention and gain market share
Penetration pricing
What is consumer behavior?
consumer behavior is the study of how individuals ,groups, and organizations select ,buy ,use and dispose goods.
what affect prices externally
supply and demand , inflation , government polices, global events
A target market on age, gender, income, education, and occupation.
Demographic Target Market
the specific group of people a product, service, or message is intended to reach, often defined by demographics, interests, or behaviors.
Target Audience
What is the pricing strategy involves setting a high price to create a impression of high quality or exclusivity
Prestige pricing
Why is consumer behavior important for businesses?
understanding consumer behavior helps businesses develop better marketing strategies,improve customer satisfcation.
how does supply and demand impact prices
high demand+ low supply= higher prices
low demand + high supply = low prices
Target Market on region, climate, and location.
Geographic Target Market
understanding your audience, creating compelling content, optimizing user experience, and implementing effective tracking and analytics to continuously test and refine your approach.
Conversion
Cost-Plus pricing
What are the main factors that influence consumer behavior?
consumer behavior is influenced by psychological factors.
how does government policies influence prices
taxes, tariffs, subsides
Why is Target market important?
Understanding and connecting to a specific group people.
outlines how a business wants to be perceived by its target audience, encompassing its values, mission, and unique selling propositions to differentiate itself, build customer loyalty, and create emotional connections.
Branding
What is the pricing strategy that involves offering a product at a lower price, but the charging for an additional features or services
Freemium pricing
How does perception affect buying decisions?
consumers buy based on how they see a product value.
can golbal event change prices
yes, wars , pandemics and trade issuses disrupt
What target market on lifestyle, values, interests, and attitudes.
Psychographic Target Market
a plan to improve a website's visibility in search engine results, attracting more organic traffic through techniques like keyword research, on-page optimization, technical SEO, and link building.
SEO
What pricing method involves charging different prices based on the customers perceived value or ability to pay
Price Discrimination
What role does motivation play?
it drives people to fulfill their needs and wants.
what impact does natural disasters have
they create shortages raising for affeceted goods
Target Market that focuses on purchase frequency, usage pattern and loyalty to the brand.
Behavioral Target market
a plan to attract, maintain, and strengthen the interest, involvement, and loyalty of a target audience or customers by creating meaningful interactions and building strong relationships.
engagement strategy-