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F09 MKTG 3104 14. Pricing Part 2 post

F09 MKTG 3104 14. Pricing Part 2 post - PRICING PART 2 1...

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10/26/09 PRICING PART 2 CONTENT OBJECTIVES 1. Identify technology driven changes in pricing 1. Factor the psychology of pricing into pricing decisions
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10/26/09 EFFECT OF TECHNOLOGY 1. Retailer pricing systems Scanner data, databases, demographics 2. Price information access Internet search systems Mobile phone software (G.E. Money Shopping Card)
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10/26/09 CONSUMER PSYCHOLOGY Price and benefit are compared to determine value, but marketing also assumes that there are psychological effects of pricing. BENEFI TS + VALU E PRIC E - +
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10/26/09 You are out with a friend and you decide to 1. Buy it for $350 2. Go to the other store and buy it for $5 less Economists: Tradeoff between $5 and a 10 minute trip
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10/26/09 Consumers often cannot evaluate prices/value directly. They compare an offer price to a reference prices defined as any price to which a buyer compares an offer. Buyers use this comparison to judge the value of the deal .
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