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Price Sensitivity Factors

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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.

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Product Positioning & Pricing

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Concerns In Positioning Price Sensitivity: Factors And Scope

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Price Sensitivity: Factors And Scope Very Critical Aspect Helps In Protecting Profitability & To Become A Better Sales Person

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The Customer Experience: Customer Satisfaction, Brand Loyalty And Customer Retention Inversely Related To Price-sensitivity Customer Involvement: Active Customers: Less-price Sensitive

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Niceties Versus Necessities

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Uniqueness Of The Product: Buyers Less-sensitive To Unique Products Tough To Justify It For Common Products

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Substitutes And Competitors: The Lesser The No. Of Competitors and Substitutes, The Lesser The Impact Of Price-Sensitivity

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Price Sensitivity Factors

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Price Sensitivity Factors

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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:

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Summary:

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Bibliography: Books: Marketing management: Arun Kumar and N. Meenakshi, 1st Edition Marketing management: Philip Kotler, 13th Edition Website: http://www.tomreillytraining.com/Ezine%207-15- 08%20FiveFactorsAffectPriceSens.htm http://www.mbanotesworld.in/2009/09/factors-affecting-price- sensitivity.html

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Feedback or Questions

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Price Sensitivity Factors

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Price Sensitivity Factors