This document discusses factors that impact price sensitivity for products and customers. It identifies several key factors that can help reduce price sensitivity, including customer satisfaction and loyalty, customer involvement with the product, uniqueness of the product, availability of substitutes, brand image, and customer spending power. Understanding these factors is important for product positioning and pricing strategies to protect profitability and improve sales.
3. Price Sensitivity: Factors And Scope
Very Critical Aspect
Helps In Protecting Profitability &
To Become A Better Sales Person
4. The Customer Experience:
Customer Satisfaction, Brand Loyalty
And Customer Retention Inversely
Related To Price-sensitivity
Customer Involvement:
Active Customers: Less-price Sensitive
10. Brand Image:
Consumers Switch Between Suppliers Of Gas On The
Basis Of Price;
More Likely To Stay With A Fashion Label Despite
Price Increases.
So, The Higher The Brand Image, The Lesser The
Impact Of Price-sensitivity
Potential Customer’s Spending Power: