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Title: PERCEIVED VALUE PRICING
Description: Perceived value pricing is that value that customers will pay because of their perception of the product.
Description: Perceived value pricing is that value that customers will pay because of their perception of the product.
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PERCEIVED VALUE PRICING
The presence of certain brands determine how high or low customers are willing to pay for
the product
...
This is usually arrived at from direct consumption or
opinions of close friends and relatives
...
It is an important marketing strategy that is used to price products in the market
...
A firm sets the price of
a product by considering what product image a customer carries in his mind and how much
he is willing to pay for it
...
Many times, the customer is not aware of the cost incurred by
the firm in producing the product, but what they only care about is the final price and how
much it varies from the competitor´s product
...
This method suffers from several limitations; sometimes a customer may suspect that the
company has exaggerated its product quality and services
...
Companies benefit from
this method only when a company offers more value than the competitors
Title: PERCEIVED VALUE PRICING
Description: Perceived value pricing is that value that customers will pay because of their perception of the product.
Description: Perceived value pricing is that value that customers will pay because of their perception of the product.