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Marketing lecture 12_3_Notes

Marketing lecture 12_3_Notes - 20:16:00 ← Marketing ←...

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Unformatted text preview: 18/02/2009 20:16:00 ← Marketing ← Unit based pricing – finding some common denominator • Creating a base price ← ← Determinants of Price Sensitivity • 5. Price-quality Effect o If I pay more, it must be better o E.G. Wine • 6. The Expenditure Effect o How much effort do you have to go through to acquire the good o Builds product up through search rather than actually knowing the product o • 7. End-Benefit effect o Concept of exercise, some people don’t enjoy the process but love the end relief. E.g. muscle milk • 8. Shared cost effect o We are less price sensitive if someone else is paying for part of the bill • 9. Fairness Effect o Is this a fair price? • 10. Inventory Effect o If I have a lot of product, I should be willing to sell it for less o Surplus effect • 11. The reference or framing effect o Manufacturer suggest retail price (MSRP) o Creates impression of a deal ← ← Pricing: • Definition...
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Marketing lecture 12_3_Notes - 20:16:00 ← Marketing ←...

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