Psychological pricing

Introduction Articulated in four parts, the following case study firstly identifies the sources of economic value for Medi-Cult (now branded Origio) which effect pricing strategy and connects them to accepted best practise principles. Economic value in marketing encompasses the rational, emotional and relationship benefits of a product as seen by stakeholders. Secondly, the study examines different methods of measuring customers’ perceptions of value. Thirdly, armed with the relevant…

price (P2) will increase to a new price (P1) and point move to point B after differential pricing. Eventually, Holiday Inn can gain extra income through better a view of a deluxe…

they usually base it off opportunity-to-opportunity and geographic areas. Baysingers utilizes cost-based pricing, but not demand-based pricing. Since there isn’t any impulse buying, they don’t use new product pricing. Baysingers not only sells in bulk, but also has a retail side. Because of this, product-line pricing is used. Neither psychological or professional pricing is used. Promotional pricing will occasionally be used. On the retail side, there is a discount section, and for online…

This type of strategy is known as skimming pricing, established by most high tech product selling companies because it will eventually reach a large demographic, which in turn increases the revenue of our company. Another pricing strategy that we have established is the psychological strategy. This allows our consumers to be under the impression that they are buying a product at a reasonable price. Pricing our products at $119.95 and $239.95 will make our customers think they’re…

Versioning will offer several variations of the product differentiating in the quality and respectively the price charged (Schmitz, 2012). The proposed strategy will offer is three versions. To implement a rule of three was determined by the Goldilocks pricing rule (Shapiro and Varian, 1998). A summary of this rule is consumers will delay purchases when there are many choices due to the excess demand of cognitive processing. Version 1) Hermes (FREE) • Price sensitive product • Students must…

TARGET AND MARKET SEGMENTATION (SAMUEL CHASE) MARKET DESCRIPTION Suva Fiji is a popular tourism destination and home to about 75,000 residents. “Over the years, the number of tourists visiting Fiji has shown a steady increase, with figures for 2010 up by 15%” (Collins, n.d.). With a steady increase of tourism and population growth, the “total income [brought in by tourists] is reported [to be] $1.2 billion[which] indicated an average [amount spent] of close to $2000 per person” (Lopez, n.d.).…

SWOT  Strength: food choice service can optionally choose meals who passenger would like which are the new and unique selling point for the Air New Zealand. Food choice service provides more different kinds of buffet to satisfy different nationality passengers. It is different with traditional food service serving on the flying. As we know lots of airline meals just one or two different lunch or dinner provided to passenger. So, Air New Zealand do utmost build new food service competes with…

I had the opportunity to work at JCP when the previous CEO Ron Johnson came aboard to help the company recover from the recession’s effect. I remember he changed the strategy of the retail game inside the company. Mr. Johnson tried to change the company’s culture by adopting a new logo, “innovative ways” to assist customers and by adopting a new mentality; I remember we had so many meetings. Mr. Johnson also kept an open communication with all the personnel to keep us updated and aware of the…

The proposed price is $100 for a fiber Premium cylinder. Special discounts would be offered to attract the consumers (Kent, 2013). Bundle pricing strategy would be adopted to enhance the sales volume. Place: Maldivegas would sell through the retail stores only while opening up online portal may also help depending upon consumer adoption in the retail market; however adoption for online portal…

For example, if a marketer wanted to target men specifically the communications will probably be different than if they wanted to target women. When my husband and I are relaxing and watching television together, I notice that he really only pays attention to the funny or comical advertisements and those that include fast cars. Even though fast cars is an interest of his and could be considered a psychographic factor opposed to a demographic factor, it is still important for a marketer to…